Worldwide Automotive Remote Keyless Entry Systems Market – Drivers, Opportunities, Trends, and Forecasts: 2019–2025Posted:
The report clearly suggests that the Global Automotive Remote Keyless Entry System is expected to grow at an impressive rate. The experts have suggested that during the forecast period, the Compound Annual Growth Rate will be around 5 to 6%. It is expected that effective connectivity harmonization and improvement in broadband technology will significantly drive the global market in the coming years. There is a lot of major factors that are expected to propel the market growth from the year 2018 to 2025.
The key manufacturers covered in this report
As per the report, the implementation of RKE in different sectors is getting higher with time as various regulatory bodies throughout the world are now trying to improve the safety measures. In general, a vehicle keyless entry system communicates with the vehicles using a radio or microwave frequency. This frequency can be hacked when one uses a smartwatch or smartphone to lock or unlock the vehicle. So, the governments are now taking steps to impose quality requirements and to enhance vehicle security.
It is forecasted that the introduction of a new 3D gesture will boost market growth across the world. One of the primary factors behind the increasing popularity of 3D gesture is it can effectively prevent the thief from unlocking the vehicle. The increasing focus on strengthening the functionality of these systems is expected to make the top players launch new and advanced products in the market. The global market accounted for $ 8.9 billion in 2018 and is anticipated to touch USD 14.2 billion by the end of 2025, at a CAGR of 6.9% between 2019 and 2025.
Global Market Segmentation
The Global Automotive Remote Keyless Entry System Market is segmented based on Type, End-users, or Application and Regions. On the basis type, the market is segmented into RFID- Radio Frequency Identification, BLE- Bluetooth Low Energy, and Other. It is expected that the BLE segment will enjoy maximum market shares in the future. Based on the application, it is split into OEMs and Aftermarket. The report suggests the OEM segment witnessed the maximum market share in the year 2016. So, this segment will dominate the Automotive Remote Keyless Entry System market in the coming years. One of the primary factors responsible for this is the growing rate of automobile production.
Geographical Market Segmentation of the System
The report includes some important information about the leading manufacturer’s market share and growth in the major regions. The regions covered in the report are Europe, Asia Pacific, North America, South East Asia, and More. Besides, the study also includes some crucial countries that are playing a great role in this market. Those countries are United States, Canada, China, South Korea, Mexico, India, Australia, Singapore, Japan, Indonesia, Europe, France, Germany, Russia, Spain, Italy, UK, Brazil, Argentina, Central & South America, Saudi Arabia, Middle East & Africa, and others. The North America region will dominate the global Automotive Remote Keyless Entry System market during the forecast period as it houses some leading players.
Latest Industry Updates
In May 2018, Tesla Model S, as well as Model X, geared up to start working with a keyless and smartphone entry, just like its Model 3.
In April 2018, the leading e-retailing company Amazon, partnered with General Motors and Volvo to start providing in-car deliveries.
In August 2017, Bosch’s Perfectly Keyless system turned the user’s smartphone into the vehicle key.
Table of Contents –Analysis of Key Points
1 Automotive Remote Keyless Entry Systems Market Overview
2 Manufacturers Profiles
3 Global Automotive Remote Keyless Entry Systems Market Competition, by Players
4 Global Automotive Remote Keyless Entry Systems Market Size by Regions
5 North America Automotive Remote Keyless Entry Systems Revenue by Countries
6 Europe Automotive Remote Keyless Entry Systems Revenue by Countries
7 Asia-Pacific Automotive Remote Keyless Entry Systems Revenue by Countries
8 South America Automotive Remote Keyless Entry Systems Revenue by Countries
9 Middle East and Africa Revenue Automotive Remote Keyless Entry Systems by Countries
10 Global Automotive Remote Keyless Entry Systems Market Segment by Type
11 Global Automotive Remote Keyless Entry Systems Market Segment by Application
12 Global Automotive Remote Keyless Entry Systems Market Size Forecast (2019-2025)
13 Research Findings and Conclusion
List of Tables and Figures
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