Automotive Keyless Entry Systems Market to Ship More Than 130 Million Units by 2021

Beige Market Intelligence has published a new report "Strategic Assessment of Worldwide Automotive Keyless Entry System Market – Forecast Till 2021."

New York, NY, March 15, 2016 --( “Strategic Assesment of Automotive Keyless Entry System Market – Forecast Till 2021” is a new report recently published by Beige Market intelligence with a worldwide coverage as well as a segmentation by product (remote keyless entry, passive keyless entry) by vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles) by geography (APAC, Europe, Latin America, Middle East and Africa, and North America) and by end-user market (original equipment manufacturers and aftermarket). The market research report provides growth trends, analysis and forecasts for the period 2016 – 2021 and predicts the market to ship more than 130 million units of automotive keyless entry systems by 2021.

Emerging markets tend to be an important factor that is driving the sales for automotive keyless entry systems considering these markets provide ample of opportunities for OEMs to sell their products. The demand for automobiles in general from the developed nations has been more or less steady. The emerging markets however have continued to show a continuous growth and OEMs are ensuring that technology is what drives the growth of the market in these regions. The BRIC nations in particular have seen quite a lot of activity in terms of the number of companies that have been entering and expanding their operations within the given markets. Many global automakers have partnered with automakers of emerging market nations to gain access to their markets. For example Ford has partnered with Chang’an Auto and BMW sells its cars in China through Brilliance China Automotive.

North America to be the leading contributor to the Automotive Keyless Entry Systems Market in 2021
The Automotive Keyless Entry Systems Market in North America is expected to be the leading contender in comparison to the other regions in 2021 with more than 40 million units of these systems expected to be shipped in the region. Increasing number of instances of automobile theft in the region has made it absolutely necessary for alarm systems to be installed in all vehicles which a keyless system is able to offer in addition to the convenience of locking the vehicle remotely. Keyless systems are now almost standard with every variant and type of passenger vehicle that is sold in North America. The market is expected to grow at more than 5 percent CAGR during the forecast period with the US being the leading country in terms of unit shipment in the region in 2021.

Automotive Keyless Systems will be used Primarily by Passenger cars in 2021
Passenger cars are expected to be the highest contributor to the Automotive Keyless Entry Systems market in comparison to light commercial and heavy commercial vehicles. Amongst the three categories of automobiles, passenger cars are expected to contribute to more than 50 percent of all automobiles by 2021. Passenger cars have been a key adopter of keyless entry systems for quite some time where luxury vehicles were primarily the only adopters. As of 2015, almost every category of passenger vehicle is using keyless entry systems.

Remote Keyless Entry expected to contribute to more than 65 percent of all automotive entry systems by 2018
Remote keyless entry systems were first introduced in the market in the eighties and were primarily used in luxury vehicles. Since then, they are now being used across all categories of vehicles. The next upgrade in keyless entry systems is the passive keyless entry system which is being used across a number of automobile models today, however, is still very much over shadowed by remote keyless entry systems. As of 2015, more than 60 percent of all automobiles that are produced in the market have a remote keyless entry system.

Competition among Vendors
Companies operating in this market include Alps Electric, Continental, Delphi, Hella, Marquardt, Mitsubishi Electric Corporation, Valeo and ZF TRW.

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Jency Jacob