Automotive Keyless Entry System Market to Reach $134 million with 5% CAGR Forecast to 2022

PUNE, MAHARASHTRA, INDIA, September 28, 2016 /EINPresswire.com/ -- Automotive Keyless Entry System Industry

Description

Wiseguyreports.Com Adds “Automotive Keyless Entry System -Market Demand, Growth, Opportunities and analysis of Top Key Player Forecast to 2021” To Its Research Database

Automotive Keyless Entry System – Report Insights

This market research report covers the present scenario and the growth prospects of the Worldwide Automotive Keyless Entry System Market for the period 2015-2021. This market research report includes a detailed market segmentation of the Worldwide Automotive Keyless Entry System Market by

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By Product Type

• Remote key-less Entry
• Passive Key-less Entry

By Vehicle Type
• Passenger Cars,
• Heavy Commercial Vehicle
• Light Commercial Vehicle

By End Market
• Original Equipment Manufacturers
• After Market

By Geographic Region
• North America
• APAC
• Europe
• Latin America
• Middle East

The automotive industry has changed structurally over the past few decades, until late 1980’s an automobile largely consisted of mechanical components however since then the automotive industry has transformed most of its mechanical mechanism into electronic/electrical components. One such example is the automotive keyless entry system, in the past all vehicle doors were unlocked using a mechanical key which has transformed and evolved into high-end advanced electronic entry systems using integrated circuits that communicate through electromagnetic signals to lock or unlock the vehicle door. A keyless entry system provides vehicle access without using traditional mechanical key, offering higher security and convenience. Market research analysts at Beige Market Intelligence, expect the Automotive Keyless Entry System to reach approx. 134 million units by 2021.

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Automotive Keyless Entry Market Size and Forecast

The Worldwide Automotive Keyless Entry System Market has been segmented on the basis of product type which include Remote key-less Entry and Passive Key-less Entry. Over the years, Remote keyless entry system has gained rapid adoption among the consumers due to the convenience and added security from vehicle theft making it the most predominant vehicle entry system globally. This system was initially introduced in luxury vehicle segment and latter was adopted in mass mid-segment vehicles during late 1990’s. In 2015, Remote key-less Entry was the largest segment and accounted for around 70 million units. The Remote key-less Entry segment is expected to grow at a CAGR of around 5% between 2015 and 2021.

Automotive Keyless Entry Segmentation

The Automotive Keyless Entry System Market has also been segmented on the basis of vehicle type. Among the vehicle types, passenger cars is the largest volume and value market for automotive. As passenger cars form the fundamental for personal transportation this segment will remain the largest market during the forecast period. In 2015, passenger cars segment was at around 75 million units and is expected to continue its dominance during the forecast period.

Automotive Keyless Entry Geographic Segmentation

The Worldwide Automotive Keyless Entry System Market has been segmented on the basis of geography. This market research report has categorized the entire market into five regions namely North America, APAC, Europe, Latin America and Middle East & Africa. In 2015, North America dominated the market with around 35 million units followed by Europe and Asia. Asia is expected to grow at a CAGR of around 6% during the forecast period. With the rapid economic growth in APAC region, the per-capita income has drastically increased over the past couple of years which has increased the purchasing power of consumers leading to higher automobile sales. Moreover, APAC has become a prime offshore location for automotive manufacturing.

Automotive Keyless Entry Drivers and Trends

This market research report provides market overview of the factors driving and restraining the growth of the market. The report also outlines the key trends emerging in the market that will contribute to the growth of the Worldwide Automotive Keyless Entry System market during the forecast period. During the forecast period, emerging markets are expected to drive automotive sales leading to increase in demand for keyless entry systems. The economic growth in the BRIC nations of has fueled rapid growth rates for the auto industry in recent years. Moreover, convenience offered by keyless entry has let to increase in its adoption. A driver is able to unlock or lock vehicle doors with minimal effort which makes it quicker to enter and exit the vehicle. Some of the major challenges confronting the Worldwide Automotive Keyless Entry System market include venerability.

Traditionally, vehicles largely used conventional mechanical keys to access vehicles, during this time vehicle theft occurred largely due to key stolen or when the driver accidentally left the keys in the vehicle itself. However with the advent of keyless entry system this phenomena has changed and has reduced vehicle theft through stolen keys drastically. This doesn’t mean that keyless entry system provide more security than the traditional mechanical key. The only difference is that organized crime can access vehicles far more easily by hacking into the signals between the key fob and receiver unit in the vehicle. Moreover, insurance providers denying insurance for vehicles equipped with keyless entry system is another major factor curtailing the growth of the market. The report also provides the Porter’s five forces analysis along with a description of each of the forces and its impact on the market.

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The major players in the market include Continental, ZF TRW, Valeo, Hella, Delphi. Other prominent vendors in the market include Marquardt, Alps Electric and Mitsubishi Electric.

Companies mentioned in the report include

NXP, Infineon, Microchip, Atmel, Maxim Integrated, UEM, Mouser Electronics, Silicon Labs, DDPI, Isol, Procare, Calsonic Kansei, Tokai Rika, Denso, Toyota, General Motors, Volkswagen, Honda, Ford, Autozone, Advance Auto Parts, O'reilly, Federated Auto Parts, UNI Select, Prime Choice, Auto Pro, Car ID, Viper, VOXX International, EyeLock, Daimler, BMW, Antaya Technologies, Cobra Automotive, Maruti

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