Global Automotive Keyless Entry System Market Report and Forecast 2024-2032

Global Automotive Keyless Entry System Market Outlook

The global automotive keyless entry system market reached a value of about USD 1.90 billion in 2023. The industry is further expected to grow at a CAGR of about 12.60% in the forecast period of 2024-2032 to reach a value of around USD 5.61 billion by 2032.

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North America and Asia Pacific to be Among the Significant Regional Markets for Automotive Keyless Entry System

The Asia Pacific accounts for a major share of the global automotive keyless entry system market due to the increase in demand for automotive safety systems in China, India, and Japan. Higher vehicle production in the region, coupled with the significant presence of OEMs and availability of service and solution providers for automotive keyless entry systems, is a major factor that is anticipated to augment the market growth during the forecast period. Advancements in technology for vehicle active security systems are projected to boost the automotive keyless entry system industry at a healthy pace during the forecast period. Over the past few years, the passenger car and commercial vehicle sales in the region have increased significantly, which is also contributing to the growth of the market.

North America is a significant region in the automotive keyless entry systems industry because of the growing preference for luxury vehicles and the rising adoption of vehicle security systems. The rising purchasing power of the people, increased participation of the region’s leading automotive companies, favourable government initiatives, and technological advancements are fuelling the global market growth. Further, the United States, Mexico, and Canada are the major revenue contributors to the market.

Automotive Keyless Entry System Market Segmentation

The automotive keyless entry system is a new generation vehicle access control system that locks and unlocks the vehicle using a remote or portable device. By transmitting the determined coded signals from a certain distance away, the automotive end-user can lock and unlock the vehicle. Automotive keyless entry systems work with pre-programmed programming for advanced vehicle security, which is usually designed by the automaker.

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By product, the market includes:

• Passive Keyless Entry Systems (PKES)
• Remote Keyless Entry Systems (RKES)

The significant applications of the market are:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Based on the end market, the market is divided into:

• Original Equipment Manufacturers (OEMs)
• Aftermarket

The regional markets for the automotive keyless entry system industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Growing Demand for Luxury and Premium Vehicles Propelling the Market Growth

The growing consumer preference for luxury and premium vehicles due to the integration of advanced safety systems in these vehicles is anticipated to fuel the market growth in the forecast period. In modern vehicles, automotive OEMs are inclining towards smart technology to cater to the changing demand from end-users for vehicle safety and improved convenience, which in turn support the growth of automotive keyless entry systems. The major drivers of the keyless entry systems industry include the increasing automotive production, focus on high comfort and convenience, stringent vehicle theft prevention regulations, and demand for high-security vehicles. The integration of smartphones and the rising demand for connected cars would encourage vendors to launch advanced automotive keyless entry systems in the market. For instance, in 2018, Robert Bosch GmbH, a Germany-based company, launched Perfectly Keyless, which offers wireless localisation and secure key management using a digital key on smartphones. In addition, the growing regulatory policies, which focused on vehicle safety and increased sales of luxury cars, are driving the market growth.

Key Industry Players in the Global Automotive Keyless Entry System Market

The report gives a detailed analysis of the following key players in the global automotive keyless entry system industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• DENSO Corporation
• Hella KGaA Hueck and Co.
• Continental AG
• Alps Electric Co., Ltd.
• STMicroelectronics International N.V. 
• Valeo SE
• Microchip Technology Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report