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Keyless entry system is also referred to as central remote locking. It is a lock, that operates automatically and ensures enhanced convenience, and security to users. It is used in various applications such as cars, buildings, bank lockers, and others. Keyless Entry System locks are accessed by keypad, numeric codes, and touch sensors. These keypads are located near or at the driver’s door, or the entry gate of premises. Moreover, it offers several advantages over the traditional lock system as it is compact in size, easy to carry, and is coupled with feature of proximity sensor.
Mitsubishi Electric Corporation, a Japan-based company, developed smart solutions for automotive equipment. It consists an autonomous function to lock/unlock doors or start an engine without key. In addition, Hyundai Mobis, a South Korean-based company, developed a remote smart parking assist solution, which facilitates users to park a car using remote as the smart key. Furthermore, it launched a new technology named AVPS that ensures electric vehicles to charge and park automatically.
The keyless entry system market is expected to witness growth due to increase in adoption of smart automated technologies across various industry verticals such as BFSI, healthcare, transportation, automotive, and government. Moreover, it allows access to premises, cars, and other applications, which are authorized securely with the use of external gestures such as face recognition, fingerprint, retina detection smart cards, and voice recognition.
Factors such as increase in adoption of autonomous and driverless cars and, rise in demand for remote entry access systems such as biometric, in the government, residential, and hospitality sectors for security are the major drivers for the market. However, its high cost can hinder the keyless entry system market growth. Furthermore, enactment by the government for keeping patient privacy in the healthcare industry, increase in usage of Bluetooth enabled keyless entry system in residential sector provides lucrative opportunities to the market to grow.
The keyless entry system market is segmented by type, end use, and region. Based on type, the market is classified into biometrics, card-based, remote access, and others. Based on end use, the market is bifurcated into commercial, industrial, and residential. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global keyless entry system market are Atmel, Mitsubishi Electric, 3M cogent, Delphi Continental AG, Denso, Alpha electric, Hyundai mobis, ELLA GmbH & Co, Robert Bosch GmbH, and Valeo among others. These players focus on R&D, advancement of electronic devices. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the keyless entry system industry and develop new products for enhancing product portfolio.
Key Market Segments
Key Market Players