Albany, NY -- (SBWIRE) -- 04/15/2019 -- Automotive keyless entry system is a modern automotive technology that offers physical access of the vehicle to the user and executes the locking and unlocking operation without the usage of the conventional mechanical key. The operation and function of an automotive keyless entry system includes unlocking of the automotive by means of Bluetooth unlocking system, radio frequency identification lock, electronic locks, and biometric scanning. Superior security and convenience are offered to the vehicle user by the automotive keyless entry system.
Increasing demand for vehicle safety and security supplemented with the introduction advanced electronic vehicle entry system is a prime factor that is projected to boost the automotive keyless entry system market during the forecast period. Furthermore, the rising trend toward alternate vehicle entry is another significant factor that is likely to augment the automotive keyless entry system market during the forecast period. Surge in development of autonomous systems and technology in the automotive industry and rise in competition among auto manufacturers to offer superior products are anticipated to propel the automotive keyless entry system market during the forecast period. Incorrect passcode may lead to locking of the vehicle while trying to unlock the vehicle. Furthermore, the automotive keyless entry system runs on the battery of the vehicle, which is likely to lead to faulty operation owing to low battery power. This is anticipated to hamper the market during the forecast period.
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The global automotive keyless entry system market can segmented based on technology, vehicle type, sales channel, and region. Based on technology, the automotive keyless entry system market can be segregated into Bluetooth system, radio frequency identification, and others. The radio frequency identification segment leads the automotive keyless entry system market, due to higher rate of adoption of smart keys that operate on radio frequency identification owing to their reliability.
Based on vehicle type, the automotive keyless entry system market can be divided into passenger vehicle and commercial vehicle. The passenger vehicle segment accounts for a dominant share of the automotive keyless entry system market. Higher rate of adoption and larger consumer base toward vehicle security is a leading factor boosting the market share held by the passenger vehicle segment.
In terms of sales channel, the automotive keyless entry system market can be split into original equipment manufacturers (OEMs) and aftermarket. The OEMs segment leads the automotive keyless entry system market. Most major auto manufacturers offer keyless entry system function in their vehicles. Automotive keyless entry systems have lower replacement rate and require minor repair. This, in turn, is a prime factor boosting the OEMs segment of the market, as compared to the aftermarket segment.
Based on region, the global automotive keyless entry system market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounts for a prominent share of the global automotive keyless entry system market. Higher vehicle production in the region coupled with significant presence of OEMs and availability of service and solution providers for automotive keyless entry system is a major factor that is anticipated to propel the market during the forecast period. Advancements in technology for active security systems in vehicles is projected to boost the automotive keyless entry system market at a healthy pace during the forecast period.
Prominent players operating in the global automotive keyless entry system market include ZF Friedrichshafen AG, Delphi, Continental AG, Robert Bosch GmbH, Valeo, HELLA GmbH & Co. KGaA, ARCO Lock & Security ENTERN LLC, Hyundai Mobis, DENSO CORPORATION, EZ Telematics Co., Ltd., Calsonic Kansei Corporation, Panasonic Corporation, ALPS ELECTRIC CO., LTD., Marquardt Switches Inc., and OMRON Corporation.
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