Market Trends of Automotive Keyless Entry Access Systems Industry
Increased Penetration of Keyless Entry for Passenger Cars to Enhance Market growth
The growing demand for entry and go keyless systems is fueling the growth of the automotive keyless entry system market. The growing focus on increasing the functionality of these systems by integrating it into other vehicle components is expected to initiate the launch of new product portfolios in the market.
The evolution of automotive electronics enabled vendors to design the modern ignition system and change it into a push-button. This system is combined with an ignition system, which receives signals from the key fob to activate the ignition. Such high-end systems will transform the automotive industry over the forecast period.
Major automobile manufacturers are investing heavily in keyless entry access systems. Many automobile companies are launching new models and the new version of old models with keyless entry access system technology.
- In March 2020, Renault launched a new version of Duster with keyless entry system technology. The technology also allows starting air-conditioning before getting into the car using the remote engine start.
- South Korean automobile manufacturers Kia and Hyundai are investing in research and development of the Keyless Entry Access System. In February 2020 Kia launched Carnival with a keyless entry access system and in March 2020, Hyundai launched a new version of Creta with the keyless entry access system.
Such developments over forecast period to further increase and likely to create notable positive impact on the market.
European Region is Expected to Witness Highest Growth During Forecast Period
The automotive industry has been proactive in embracing new safety technologies, and the adoption of car security systems is set to increase demand in the market. Governments across Europe, have taken several initiatives mandating the installation of certain safety features in vehicles, especially cars. These developments are expected to propel awareness about car security systems during the forecast period. For instance,
- In March 2019, The European Parliament, Council, and Commission (the EU institutions) reached a provisional political agreement on the revised General Safety Regulation. The 15 new safety features have become mandatory from 2022, except for direct vision for trucks and buses and an enlarged head impact zone on cars and vans, which will follow later due to the necessary structural design changes.
Moreover, the presence of outdated and basic security systems in economic and low-end cars has led to rising keyless theft incidents. To prevent this, manufacturers are working towards integrating multiple standalone systems that offer more robust and modern car security modules in both low-end and high-end cars.
- In July 2019, German General Automobile Club (ADAC) conducted a series of tests on 237 vehicles with keyless entry and found that about 230 of them were worryingly easy to break into using cheap electronic equipment called relay boxes.
In addition, the growing need of adopting advanced technologies in developing car security systems is rising day by day in wake of increasing car thefts especially cyber threats through hacking.
The aforementioned factors and instances are anticipated to contribute significantly to improving Europe position in the overall market share during the forecast period.
