The North America keyless vehicle access control system market revenue by the end of 2021 was US$ 515.9 Million. The market is expected to reach US$ 1,575.7 Million by 2032, as it is estimated to grow at a CAGR of 10.8% from 2022 to 2032.
Attributes | Details |
---|---|
Estimated Year (2022) Market Value | US$ 563.4 Million |
Projected Year (2032) Market Value | US$ 1,575.7 Million |
CAGR% (2022 to 2032) | 10.8% |
Top 5 Vendor Market Share | Around 35% |
The keyless vehicle access control system is a new-generation vehicle access control system that uses a remote control system or wearable device to lock and unlock the vehicle. Automotive end-users can lock and unlock their vehicle from a distance by sending specifically programmed signals.
The keyless vehicle access control system uses pre-defined programming to enhance vehicle security, primarily developed by the automotive OEM. As keyless vehicle access controls are one of the key components of modern vehicle security, the demand for automotive keyless entry systems is directly impacted by vehicle production as well as sales activities around the world.
The North America keyless vehicle access control system market holds 30% of the global keyless vehicle access market.
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The North American keyless vehicle access control system market is estimated to grow at a CAGR of 10.8% for the forecast period.
The most important benefit of the keyless vehicle access control system is the convenience it brings to the user. Drivers can unlock as well as lock the car doors with little effort, allowing them to get in and out of the vehicle faster.
The development of keyless vehicle access controls has allowed users to lock or unlock their car doors simply by putting the key in their pockets. Drivers also find the system very useful in emergencies and in bad weather outdoors when quick vehicle access is essential, making the keyless vehicle access control system a breeze, an ideal system for the driver.
The main OEMs offering keyless vehicle access controls include Acura, Audi, BMW, Mercedes-Benz, KIA, and Volvo. The immobilization function of the keyless vehicle access control system prevents unauthorized access as well as activation of the ignition system, increasing vehicle security. Thus, keyless vehicle access controls are driving growth opportunities in the global market during the forecast period.
Increasing regulatory policies focusing on vehicle safety are expected to drive the growth of the keyless vehicle access control system market. The imposition of strict regulations globally will support the growth rate of the market. In addition, keyless vehicle access controls offer various benefits, as they offer great convenience and improve vehicle security.
The growing emphasis on comfort and convenience, coupled with the demand for highly secure vehicles, will support the growth of the market. Growing demand for connected, autonomous and semi-autonomous cars and smartphone integration will see increase demand, which will further expand the future growth of the keyless vehicle access control system market.
The market for keyless car access controls is dominated by the USA. Due to its favorable technological infrastructure, greater participation by the region's top automotive businesses, and the presence of key players, such as Lear Corporation (the USA), Atmel Corporation (the USA), and growing purchasing power parity (PPP) of the populace, the USA dominates the key-less car access control system industry and now holds a monopoly on the market. Increased internet usage and a surge in smartphone users have inundated the automotive industry, fuelling additional market expansion.
The demand for keyless vehicle access control systems in the USA is anticipated to increase over the upcoming years since the keyless vehicle access control system industry is expanding at a quick rate and can be seen as an emerging solution with several advantages that simply cannot be disregarded any longer. It anticipates that a new generation of cutting-edge technology will benefit from being boosted by sophisticated and contemporary technology to perform more tasks than before through the use of AI-driven analytics, superior sensor technology, and other components.
Due to the increased technological usage in the automotive industry, it is projected that the keyless vehicle access control system market will expand at a significant rate in Canada. The market has grown as a result of increased sales of both premium and affordable cars over time. Additionally, the growing propensity to use high-tech features has fuelled the market's expansion.
Canada is thought to be the fastest-growing keyless vehicle access control system market due to its propensity towards digitalization, highly developed automotive sector, and higher penetration of luxury vehicles. Luxury companies like Ford and Toyota are present there. The target customer base has also been different in nations where demand for keyless car access control systems is in a growth phase compared to countries at a maturity phase due to Canada's rapid urbanization.
Based on type, the keyless vehicle access control system market is split into two: remote keyless entry systems and passive keyless entry systems. In which the remote keyless entry segment held the largest market share, having or owing to its best access control, high accessibility, support, and improved security. It is highly recommended by end users and installed in various cars, such as economical cars, luxury cars, and others, due to its low cost and improved functionality over traditional keys.
On the other hand, Passive keyless entry is highly advanced technology and uses the Ultra-Wide Brand that enables security-critical vehicular control system applications. They are used mainly for luxury vehicles by the original manufacturers.
Due to these factors, remote keyless entry systems had a larger market share of 54.8%.
On the basis of vehicle type, automotive companies develop keyless entry systems for the market. This segmented drive is into commercial vehicles and passenger vehicles. The passenger car segment captured the highest market share, and it is expected to expand and dominate the passenger car market.
The passenger car segment is expected to remain the largest market segment in the forecasting period due to the reason of having the highest demand for security vehicles and better comfort. That’s the reason for increasing car production. Due to the hi-tech technology of the market, commercial vehicles will spark expansion in the category.
On the basis of end users, the keyless vehicle access control system market is divided into aftermarket and original equipment manufacturers (OEMs). The OEM segment captured the largest market share by virtue of the preference for luxury vehicles and the rising production of these vehicles by different automotive companies.
Likewise, the development of companies and rising research, for example, companies to provide the most hi-tech facilities and security to end customers. For this reason, this market segment is rising. The Original Equipment Manufacturer (OEM) segment has great development potential due to the rising number of car thefts that are occurring around the world.
For these reasons, the OEM segment held the largest market share of 59.8% for the forecast period.
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Certain companies which provide North American keyless vehicle access control systems are vehicle companies or companies which offer electronic solutions and services. Certain companies are also software companies trying to enable digital keys for smartphones. This could attract smartphone and application developers to this market.
Attribute | Details |
---|---|
Market value in 2021 | US$ 515.9 Million |
Market CAGR 2022 to 2032 | 10.8% |
Share of top 5 players | Around 35% |
Forecast Period | 2022 to 2032 |
Historical Data Available for | 2017 to 2021 |
Market Analysis | USD Million for Value |
Key Countries Covered | USA and Canada |
Key Segments Covered | Product Type, Vehicle Type, Sales Channel, and Region |
Key Companies Profiled | Continental Automotive GmbH; Alps Automotive Inc.; Omron Automotive Electronics Co. Ltd.; Lear Corporation; Panasonic Corporation; Delphi Automotive LLP; TRW Automotive Holdings Corp.; Mitsubishi Electrical; Denso Corporation; HELLA GmbH & Co. KGaA |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
Some leading North American keyless vehicle access control systems are Alpis Automotive Inc., Lear Corporation, Panasonic Corporation, and Mitsubishi Electrical.
Canada is estimated to have the highest growth for the North American keyless vehicle access control system during the forecast period at 11.2%.
Allowing access to multiple vehicles using a single digital master key.
Remote keyless entry (RKE) systems had the largest market share for the North American keyless vehicle access control system at 54.8% in 2021.
Passive keyless entry (PKE) systems have the highest CAGR of 10.3% for the forecast period.
OEM has the highest market share for keyless vehicle access control systems at 59.8% for the year 2021.
The market share of passive keyless entry (PKE) systems for the year 2021 in the North American keyless vehicle access control system market was 45.2%.
The large presence of passenger vehicles, where households choose to buy multiple cars for the family members, and the presence of numerous car vendors.
The USA had a market share of 56.7% in 2021.
The historic presence of car manufacturers in this region with several people who could afford expensive vehicles.
The growth rate for the aftermarket segment in North America for the keyless vehicle access control system is 12.1% for the forecast period.
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