The automotive keyless entry system comprises an electronic locking feature, which safeguards access to the vehicle electronically and substitutes the conventional mechanical key. The integration of smartphones and rising demand for connected cars would encourage vendors to launch advanced automotive keyless entry systems in the market. In addition, the growing regulatory policies, which focused on vehicle safety and increased sales of luxury cars, are driving the market growth.
MARKET SCOPE
The "Global Automotive Keyless Entry System Market Analysis to 2028" is a specialized and in-depth study of the Automotive Keyless Entry System market with a special focus on the global market trend analysis. The report aims to provide an overview of Automotive Keyless Entry System market with detailed market segmentation product type, end user, vehicle type, and geography. The global Automotive Keyless Entry System market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Automotive Keyless Entry System market players and offers key trends and opportunities in the Automotive Keyless Entry System market.
MARKET SEGMENTATION
- On the basis of product type, the market is segmented as passive keyless entry (PKE) system and remote keyless entry (RKE) system.
- On the basis of end user, the market is segmented as aftermarket and original equipment manufacturer (OEMs).
- On the basis of vehicle type, the market is segmented as passenger cars and commercial vehicles.
MARKET DYNAMICS
Drivers:
- growing regulatory policies that focus on vehicle safety
- increased sales of luxury cars
- rising focus on increasing the functionality of an automotive keyless entry system by integrating it into other vehicle components
Restraint -
- high initial investment
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Automotive Keyless Entry System market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Automotive Keyless Entry System market in these regions.
IMPACT OF COVID-19ON AUTOMOTIVE KEYLESS ENTRY SYSTEM MARKET
COVID-19 severely impacted the automobile industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the automotive and transportation industry, including Automotive Keyless Entry System manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. Due to long duration of halts in the supply chain of major automotive production, the Automotive Keyless Entry System suppliers have been facing a reduction in demand. However, as the lockdown measures start getting lifted, the demand for passenger cars with improved safety features is expected to rise. Since Automotive Keyless Entry Systems are one of the vital components of safety features in luxury passenger cars and heavy duty commercial vehicles, the market of Automotive Keyless Entry System is expected to regain momentum.
MARKET PLAYERS
The reports cover key developments in the Automotive Keyless Entry System market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Automotive Keyless Entry System market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Keyless Entry System market. Below mentioned is the list of few companies engaged in the Automotive Keyless Entry System market.
The report also includes the profiles of key Automotive Keyless Entry System market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ALPS ALPINE CO., LTD.
- Continental AG
- Delphi Automotive
- Denso Corporation
- HELLA GmbH and Co. KGaA
- Lear Corporation
- Marquardt GmbH
- Mitsubishi Electric Corporation
- NXP Semiconductors
- Valeo