Keyless Entry System Market Report

The need for keyless entry systems has grown recently with the emergence of smart devices and smart homes. As a result of the growing smart buildings, homeowners and business owners are growing more concerned about the security of their properties as crime rates, including theft and burglary, have increased. Keyless entry systems give an extra degree of security because they are harder to replicate or pick than regular keys. Keyless entry systems can also offer real-time access control, enabling property owners and business owners to keep track of who enters and leaves their buildings. Additionally, keyless entry systems can also be combined with other security measures, such as alarm and video surveillance systems, to offer a full security program for the building. Overall, as consumers search for ways to improve the security of their homes and companies, the demand for keyless entry systems is probably being driven by the growing security concerns. Keyless entry systems offer a simple and safe solution that can aid in preventing unauthorized access and safeguard against possible security risks.

One of the primary factors propelling the market for keyless entry systems is anticipated to be the increasing demand for comfort and convenience. Keyless entry systems provide a high level of comfort and convenience to consumers as the need for physical keys is eliminated. Additionally, as major companies invest more in the automobile industry, the growth of the automobile sector is accelerating exponentially. Overall, the demand for keyless entry systems in the market is projected to be driven by the expanding automotive sector and increasing demand for cutting-edge features and technology in automobiles. Keyless entry systems are a popular feature since they provide convenience, security, and compliance with safety standards. Additionally, the market is expected to expand owing to the increase in adoption of driverless and autonomous vehicles.

For instance, Genesis Motor Europe introduced the world's first keyless entry facial recognition system on its GV60 SUV in December 2022. It was the first SUV in the world to have cutting-edge facial recognition technology for biometric car entry and engine start. In addition to this, keyless entry systems in automobiles provide extra features like remote starting, which enables the user to start the engine without physically getting into the car.  Thus, the adoption and popularity of keyless entry systems are anticipated to grow as a result of the comfort and convenience they offer, which will in turn accelerate the market expansion.

• Smartphone Integration for Remote Vehicle Access and Control.
• Integration with Advanced Driver Assistance Systems (ADAS) Technology.
• Rising Adoption of Near-Field Communication (NFC) Technology.

In the automobile industry, passenger and commercial vehicles have evolved from mechanical machines to more technologically driven machines during the past two decades. Since these keyless access systems and the vehicle typically communicate using RF or Bluetooth signals, the risk of cyberattacks is increased. For instance, in July 2022, Honda confirmed that it is technically possible to imitate Remote Keyless commands using advanced tools and technical know-how to gain access to several automobiles, including their own. Additionally, the keyless access system is challenging for consumers to adapt to, and the cost of repair and maintenance for these systems is very high. All of these significant factors serve as market restraints for market development.

In addition to this, the price volatility of semiconductors and other electronic component raw materials could also impede market expansion during the forecast period. In addition, the keyless entry system incorporates a number of sophisticated technologies, such as the Bluetooth system, sensors, operating software, and electronic control panels, to manage operations. The cost of each of these keyless entry subsystems is expensive, which ultimately raises the price of keyless entry systems. As a result, the market for these systems is expected to grow slowly over the course of the forecast period.

The majority of the top companies in the highly competitive global market for keyless entry systems are emphasizing strategic activities, such as product upgrades and alliances, in order to achieve a stronger position globally. For instance, one of the first platform solutions in the world, Geotab Keyless, combined a protected digital key function with a complete and data-driven fleet management product. This integrated solution, which was unveiled by Geotab in October 2020 enabled a new class of automobile sharing by enabling public, corporate, leasing, and government fleets to effectively analyze, pool, utilize, and minimize their assets. Again, in June 2020, Continental AG launched a smartphone-based auto key. Three significant automakers from Asia Pacific and Europe had placed a new order for Continental AG's Continental Smart entry (CoSmA) smartphone-based car entry system. In addition, HELLA unveiled a digital car key with ultra-wideband technology in June 2021. With HELLA Smart Car Access, end customers are able to lock and unlock their cars totally hands-free and start the engine without needing to take out a smartphone or a traditional remote key. The car automatically detects and recognizes the mobile device at a distance of 50 meters.

The keyless entry system is anticipated to gain demand in the North American region during the forecast period. Owing to its favorable technological infrastructure, greater involvement by the top automotive businesses in the region, and improved economic conditions of the population, North America holds a significant spot in the keyless entry system industry. The keyless entry system industry has been flooded with an increasing number of smartphone users and internet users, which is fuelling market expansion.  Additionally, due to the higher penetration of high-end automobiles, the inclination towards digitization, and the presence of important players like Denso Corporation, Calsonic Kansei Corporation, Alps Automotive Inc., Mitsubishi Electric Group, and Omron Automotive Electronics Co. Ltd., it is thought that the Asia-Pacific region will experience the fastest growth in the keyless entry systems market. Moreover, the automotive sector in Japan is one of the most rapidly expanding in the world. In addition, the presence of electronic manufacturers in countries like China is likely to drive the keyless entry system market expansion.

The report provides a detailed overview of the keyless entry system market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the keyless entry system market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the keyless entry system market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the keyless entry system market. Some key countries and regions included in the keyless entry system market report are as follows:

• Keyless entry system market detailed segments and segment-wise market breakdown
• Keyless entry system market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in keyless entry system industry)
• Current, historical, and forthcoming 10 years market valuation in terms of keyless entry system market size (US$ Mn), share (%), Y-o-Y growth rate, CAGR (%) analysis
• Keyless entry system market demand analysis
• Keyless entry system market regional insights with the region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in the keyless entry system market
• Regulatory landscape by key regions and key countries
• Keyless entry system market sales and distribution strategies
• A comprehensive overview of the parent market
• A detailed viewpoint on keyless entry system market forecast by countries
• Mergers and acquisitions in the keyless entry system market
• Essential information to enhance market position
• Robust research methodology