Global Keyless Entry Systems Market 2017-2021

Overview of the global keyless entry systems market

Technavio’s market research report predicts that the global keyless entry systems market will post a CAGR of above 9% during the forecast period. The high penetration of keyless entry systems in the automotive sector will be one of the primary drivers for market growth. The growth in living standards of the people across the globe, especially the middle-class population has considerably increased over the years which in turn has enhanced the demand for value-added features such as keyless entry systems in passenger cars. It has been observed that during 2016, almost all the passenger cars manufactured around the globe were factory-fitted with user-programmable keyless entry systems. Moreover, with the governments across the world introducing stringent regulations regarding passenger vehicle safety and theft, manufacturers will start offering remote keyless entry (RKE) systems as a standard fitment in passenger cars around the globe. This in turn, will significantly drive the growth of the keyless entry systems market during the forecast period.

In terms of geography, the Americas dominated the keyless entry systems market during 2016 and is foreseen to continue its dominance over the next four years as well. Factors such as the increased government spending on access control systems, the rising awareness of the safety systems, and the innovations in automotive technologies will drive the growth of the market in the region. Moreover, the acceptance of access control systems across the government, transportation, healthcare, and BFSI sectors and the rising consumer spending and interest towards the implementation of smart technologies, will also augment the market’s growth in the Americas.

Competitive analysis and key vendors