Global Automotive Keyless Entry System Market 2017-2021
About Automotive Keyless Entry System
An automotive keyless entry system consists of two types of technologies: RKE system, whose functionality is entry into the vehicle, and PKE system, which operates as an entry-and-go functionality. A keyless entry system provides vehicle access without using the traditional mechanical key, offering better security and convenience. The global automotive keyless entry system market is segmented based on product type as RKE (remote keyless entry) and PKE (passive keyless entry) and by geography as the Americas, EMEA, and APAC.
Technavio’s analysts forecast the global automotive keyless entry system market to grow at a CAGR of 7.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive keyless entry system market for 2017-2021. To calculate the market size, the report considers the global unit sales of vehicles (passenger cars and commercial vehicles) installed with keyless entry system as well as aftermarket sales of keyless entry systems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Keyless Entry System Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive keyless entry system market: ZF Friedrichshafen, Continental, Delphi*, Valeo, and HELLA.
Other Prominent Vendors in the market are: Alps Electric, DENSO, HYUNDAI MOBIS, Marquardt, Mitsubishi Electric, Lear Corporation, OMRON Corporation, and Advanced Keys.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is virtual key entry system. Research says that almost 68% of US adults used smartphones in 2016, which was 35% in 2011 and this number is expected to grow in the future. Moreover, there were about 210 million of connected car on roads in 2016, and this number is expected to double by 2021. With the era of the Internet of things, devices are getting connected. According to experts, there will be around 50 billion connected objects by 2020.”
According to the report, one driver in the market is increase of sales of automobiles in developing economies. The demand for keyless entry system is dependent on the sales of the vehicles. OEMs, such as Toyota, are planning to increase their production capacity. As a result, the firm has planned to relocate its auto production unit to Mexico by 2019 to meet the growing demand for SUVs and crossovers in the US and Canada. The new plant will also manufacture its flagship model, namely, Corolla. In 2016, General Motors launched SUVs, crossovers, and sedans in the US to capture the market. For the past few years, China has become the largest automotive market in the world. In 2016, the passenger cars market in China recorded a growth of about 4% with SUVs and crossovers contributing the most.
Further, the report states that one challenge in the market is risk associated with keyless entry systems. Keyless entry systems are a concern for vehicle security, as they use radiofrequency or microwave to be exchanged between the fob and the receiver unit in the vehicle, which is prone to hacking. Thus, although the system is convenient to use, it is riskier than the traditional key. Keyless entry systems have been perceived as secure and convenient, but the system is susceptible to various loopholes that can be misused. The system is a communication between the key fob and the vehicle, which is carried though radio frequency and can be easily hacked. At the DEF CON hacking convention held in Las Vegas in August 2015, ethical hackers discussed numerous techniques that could be used to hack into a vehicle that is equipped with either RKE or PKE systems.
ZF Friedrichshafen, Continental, Delphi*, Valeo, HELLA, Alps Electric, DENSO, HYUNDAI MOBIS, Marquardt, Mitsubishi Electric, Lear Corporation, OMRON Corporation, and Advanced Keys.