Impact of Covid-19 Outbreak on Automotive Keyless Entry Systems Market

23/giu/2020 15:10:36 Automotive Market Research Reports Contatta l'autore

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Market Research Future (MRFR) has recently published an exhaustive study on the global automotive keyless entry systems market. After a thorough analysis of the key trends and patterns affecting the market growth, MRFR has indicated a CAGR of 6.8% over the forecast period of 2019-2025.

Remote keyless entry (RKE) and passive keyless entry (PKE) system have become quite a rage in automobiles, especially in luxury cars. They facilitate access to a vehicle within a certain range without a key. Their functioning is based on the transfer of radio frequency signal exchange which provides advanced safety features. Vehicle theft activities have been a long-standing problem and have reached an almost epidemic stage. Car theft is followed by huge economic loss, insurance, and deductibles, and potential waiting periods for insurance settlements. Thus, there has been an increased affinity and consumer acceptance towards automotive advanced safety systems such as automotive keyless entry systems.

Automotive keyless entry systems provide a high level of security to the vehicle. Additionally, they also assist in tire pressure monitoring, light control, opening the tailgate, multimedia file storage, front and rear seat setting, and others. The growing popularity of such sophisticated features is driving the demand for keyless entry systems. Besides, rising awareness regarding technologically advanced vehicular safety systems is also a key factor, especially in developing nations. High demand for connected, autonomous, and semi-autonomous cars also provides ample opportunities for the growth of the market.

Technologically the automotive keyless entry system space has witnessed rapid advancements in the past few years. While few automakers have launched smartphone applications to make vehicles keyless, recently Tesla launched a car with no fob at all.

Segmentation

The global automotive keyless entry systems market has been segmented based on vehicle type, sales channel, product type.

By vehicle type, the global automotive keyless entry systems market has been segmented into passenger cars, light commercial vehicle (LCV), and heavy commercial vehicle (HCV).

By sales channel, the automotive keyless entry systems market has been segmented into OEM and aftermarket.

By product type, the automotive keyless entry systems market has been segmented into PKE and RKE.

Regional Analysis

By region, the automotive keyless entry systems market has been segmented into North America, Rest-of-the-World (RoW), Asia Pacific (APAC), and Europe.

North America is accountable for the maximum share of the global market. High sales of luxury cars and increased adoption rate of vehicle security system across the region is favoring the growth of the market.  

The APAC automotive keyless entry systems market is anticipated to register the highest CAGR over the forecast period. The region is a major producer as well as co0nsumer of new vehicles. The presence of various automotive OEMs who are increasingly incorporating keyless entry systems in vehicles have generated high demand within the market. The region is marked with the presence of automotive service and solution providers such as Denso Corporation, Calsonic Kansei Corporation, and Hyundai Mobis who contribute to the market growth significantly. Moreover, heightened demand for automotive safety systems in fast-developing countries such as China, Japan, and India are supporting market growth.

In Europe, the concentration of various automotive OEMs in the region along with large scale automotive manufacturing generates demand within the automotive keyless entry systems market.

Competitive Landscape

Denso Corporation (Japan), Continental Automotive GmbH (Germany), Hyundai Mobis (South Korea), Atmel Corporation (US), HELLA KGAA Hueck & Co. (Germany), Robert Bosch GmbH (Germany), ARCO Lock & Security ENTERN LLC (US), Delphi Automotive (Ireland), Calsonic Kansei Corporation (Japan), and TRW Automotive Holdings Corporation (US) are the notable players in the automotive keyless entry systems market.

Industry Updates

May 2019 – Lincoln, Ford’s luxury car division, is set to launch its midsize 2020 Aviator and compact 2020 Corsair variants in 2019 which come with a unique feature. The variants would be launched with a standard fob, however, customers can choose to use its app-based ‘Phone as a Key’ feature by paying extra. It is powered by Bluetooth Low Energy (BLE) connection.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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