Keyless Vehicle Access Control System Market: Increasing Luxury Vehicles Sales In Emerging Economies Is Driving The Market

Industry : Automotive & Transportation    

The increasing vehicle sales and growing demand for convenience features, especially in the emerging economies are the key factors responsible for driving the growth of the keyless vehicle access control system market. Keyless vehicle access control system is a fully automated system which consists of an electronically operated locking feature for securing the access to a vehicle. The system potentially replaces the need for a conventional mechanical key - the system work on many low-frequency transmitting antennas placed inside and outside of the vehicle.

Technological advancements in the transportation industry and enhanced communication infrastructure coupled with the rising awareness of new technologically advanced features are further driving the market growth over the forecast period. Increasing penetration of smartphones and other smart devices is boosting the market growth prospects. Unlocking the vehicle with the help of a smartphone is gaining popularity, but the majority of drivers are reluctant towards the adoption of keyless technology due to lack of knowledge and more importantly are worried about the security of the vehicle. It is necessary for the automotive manufacturers to incorporate different sensors such as proximity sensors and a separate control unit in the vehicles as their fixed components to implement keyless vehicle access control systems. These sensors are responsible for measuring how far the driver’s smartphone or the key is from the car. Moreover, the passive keyless entry systems need not be inserted anywhere and need to be carried along with the driver.

The keyless vehicle access control system market is broadly segmented into type and application. The type segment is further sub-segmented into passive keyless entry systems and remote keyless entry system. From which, the passive keyless entry system is poised for higher growth during the forecast period owing to the convenience and luxury being offered to the consumers globally. The application segment is further sub-segmented into passenger vehicle and commercial vehicle. Out of which, the passenger vehicle sub-segment is expected to hold the larger share of the market in comparison to the commercial vehicle sub-segment. This is owing to the growing adoption and higher percentage of passenger car segment in the overall vehicle sales across the globe. Furthermore, the emerging economies from regions such as Eastern Europe, Latin America, and Asia are expected to witness higher penetration rate in the commercial vehicles as well as passenger cars.

Conventional keys do not provide the added protection to the vehicles that a keyless entry system would offer such as the remote locking function. A keyless entry system can unlock the car in no time and allows the driver to access the vehicle without any struggle. As the system enhances the flexibility for the consumer, the keyless vehicle access control system is gaining immense popularity. Initially, keyless entry systems were predominantly integrated into the premium vehicles only but seeing the added benefits offered by the keyless system they are now increasingly being adopted across different vehicle segments.

Currently, North America region is leading the market; however, the Asia Pacific region is expected to gain significant traction in the near future. The keyless vehicle access control system market is witnessing considerable growth in the Asia Pacific region owing to the increasing demand for luxury vehicles in the region and also presence of established key players such as Denso Corporation, Calsonic Kansei Corporation, Alps Automotive, and Mitsubishi Electric Corporation among others in the region has amplified the market opportunity.

The prominent players operating in the market are Denso Corporation, HELLA GmbH & Co. KGaA, ZF Friedrichshafen AG, Calsonic Kansei Corporation, Continental AG, Lear Corporation, Delphi Automotive LLP, Alps Automotive Inc., TRW Automotive Holdings Corporation, Mitsubishi Electric Group, Valeo S.A., Omron Automotive Electronics Co. Ltd., Marquardt Switches Inc., Atmel Corporation, and Robert Bosch GmbH among others. Continuous Innovation is a crucial factor while operating in such a highly competitive market. In August 2018, Robert Bosch GmbH, a Germany based company, has launched “Perfectly Keyless,” a keyless vehicle access control system offering passive vehicle access control and is controlled by a digital key on a smartphone. The system provides benefits such as a secure solution, reduction in weight due to reduced wiring, and convenient key management for car-sharing. The newly developed Perfectly Keyless system enables the smartphone to replace the analog vehicle key, making conventional vehicle keys a thing of the past.

key  In-depth report on global keyless vehicle access control system market by Grand View Research:

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