Stratview Research releases a new insightful report on the Automotive Keyless Entry Systems Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.
Market Insights
According to the present report, the automotive keyless entry systems market in the automotive industry offers a good growth opportunity and is expected to witness a 10% CAGR during 2022-2028.
The automotive industry has been leveraging the potential of electric and electronic components in most of the application areas to enhance passenger comfort and increase safety and security features in vehicles. One such example is the keyless entry system that was introduced about 20 years back. The keyless entry system uses an integrated circuit that transfers electromagnetic signals to lock or unlock the vehicle door. This system provides high convenience and enhances the security of the vehicle.
The growth of the automotive keyless entry systems market is primarily driven by-
- Increasing automotive production.
- Stringent vehicle theft prevention regulations.
- Focus on high comfort and convenience.
- Demand for high-security vehicles.
Key players mentioned in the report are –
- Continental AG
- Hella Group
- Delphi
- Valeo
- TRW Automotive
- Alps Electric
- Mitsubishi Electric Corporation.
Market Segments Analysis
Remote keyless entry system (RKE) is the dominant entry system worldwide and offers optimum solutions to all low-cost auto vehicles. Passive keyless entry system (PKE) is likely to witness the fastest growth during the forecast period as it offers higher convenience and better security to the vehicle than traditional remote keyless entry systems. There would be a continuous shift from a remote keyless entry system to a passive keyless entry system in the next five years.
The passenger car segment is expected to remain the largest market for keyless entry systems during the forecast period. High demand for better comfort and security vehicles and increasing car production will continue to drive the demand for keyless entry systems in the passenger car segment.
Asia-Pacific region is expected to be the growth engine of the global keyless entry systems market in the next five years, driven by emerging economies, such as China and India. China is the world’s largest automotive market having good growth potential in the next five years.
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