Keyless Entry System Market

Keyless Entry System Market Outlook (2024 to 2034)

Expanding at a CAGR of 12.5%, the global keyless entry system market is projected to increase from a valuation of US$ 4.85 billion in 2024 to US$ 15.72 billion by 2034.

Electronic devices known as keyless entry systems enable users to start, lock, or unlock a car or building without a physical key. Keyless entry systems verify users and grant access using a biometric scan, smart card, or remote control in place of a key.

Because they provide convenience and security, keyless entry systems are growing in popularity for automobiles. Usually, they are made up of a key fob that the user is always on hand and that, when the user is close, signals the automobile. Once the car is automatically unlocked, the user presses a button to start the engine.

Keyless entry systems in buildings employ biometric scans or smart cards to provide access to those who are permitted. Since a smart card or biometric data is more difficult to copy or steal than a physical key, these systems are more secure than conventional key-based ones. Because keyless entry systems eliminate the need for users to always carry a key, therefore are more convenient.

As stated in the newly published keyless entry system industry analysis, the primary drivers of the market's expansion are rising car sales and growing safety and security concerns, particularly in potentially high growth markets.

Advanced applications of these systems include safety features, including tailgate opening, tire pressure monitoring, automobile alarms, light control, multimedia file storage, and front and rear seat settings. The Bharat New Car Assessment Program (BNCAP), the Federal Motor Vehicle Safety Standards (FMVSS), and the Canadian Motor Vehicle Safety Standards are also strict automobile safety laws.

The market is anticipated to develop over the projected period because of the increased implementation of automotive keyless car entry systems.

Report Attribute	Detail
Keyless Entry System Market Size (2024E)	US$ 4.85 Billion
Forecasted Market Value (2034F)	US$ 15.72 Billion
Global Market Growth Rate (2024 to 2034)	12.5% CAGR
East Asia Market Value (2034F)	US$ 6.03 Billion
North America Market Share (2034F)	26.5%
Fingerprint Segment Value (2034F)	US$ 4.71 Billion
United States Market Value (2034F)	US$ 3.31 Billion
Key Companies Profiled	ASSA ABLOY AB; Safran Group; Gemalto NV; NEC Corporation; Suprema, Inc.; Aware, Inc.; Daon, Inc.; Vivint Smart Home Inc.; Anviz Global

How are Keyless Entry Manufacturers Making Big Profits?

“Customers Looking for Comfort and Convenience Opting for Keyless Entry Systems”

One of the main factors driving market expansion is the rising demand for comfort and convenience. By doing away with the necessity for keys, keyless entry systems provide users with a high degree of comfort and convenience.

The ability to open or lock the car with a simple button press or touch is particularly helpful for individuals who are constantly on the go, which is further contributing to the overall expansion of the keyless entry system market growth.

Remote start, which enables the user to start the engine without physically entering the car, is another benefit that keyless entry systems provide. Because the user starts the engine and turns on the heating or air conditioning, this function is very helpful in hot or cold weather. Overall, the demand for mobility is a significant driver for surging preference for keyless entry systems, subsequently creating prospects for companies, as stated in the keyless entry system industry outlook.

All things considered, the comfort and convenience that keyless entry systems offer are anticipated to grow their acceptance and appeal, which support the market expansion. In addition, the industry is also driven by increased consumer desire for mobility, which is predicted to keep growing over the next several years.

The acquisition of Janam, a leading producer of laptops and portable readers in the United States, was finalized by Assa Abloy in December 2022. With this acquisition, HID added portable readers for barcode and NFC ticket scanning to its range of event entry products.

Omvos initiated a crowdfunding campaign for their Vida-a-gogo electric scooter in June 2022. The car features a 400W motor, reaches a top speed of 30 kmph, and equipped with an anti-theft wheel locking system and keyless remote start.

“Growing Car Sales Stimulating Demand for Keyless Entry Systems”

Growing car sales and rising safety and security concerns, especially in potentially high growth countries, are driving the market growth. Applications with safety features, including tailgate opening, tire pressure monitoring systems, front and rear seat settings, automobile alarms, light control, and multimedia file storage are created for keyless access control systems.

There are strict automobile security laws, such as the Federal Motor Vehicle Safety Standards (FMVSS), the Bharat New Car Assessment Program (BNCAP), and the Canadian Motor Vehicle Safety Standards. The market is anticipated to develop over the projected period because of the increased implementation of more effective technology, which is ultimately leading to a rising keyless entry system market size.

The industry is growing with the introduction of cars equipped with advanced features that provide passengers with excellent security and comfort. Several businesses are creating and showcasing cutting-edge automobiles using diverse automotive technology, which accelerated the expansion of the worldwide market.

Furthermore, technology-driven companies, including Robert Bosch GmbH, Continental AG, NXP Semiconductors, and HELLA GmbH & Co. KGaA are focusing on improving their current automotive keyless entry system, which is expected to create additional opportunities for the company to grow.

Which Factors are Restraining the Market Growth?

“Dynamic Trends in Automobiles Leading to Several Complexities”

Passenger automobiles and commercial vehicles changed over the last 20 years from mechanical devices to increasingly technologically powered ones. Because Bluetooth or radio frequency signals are typically used to transmit data between these keyless entry devices and cars, there is a greater chance of cyberattacks.

Keyless entry systems are also hard for customers to get used to, and they are expensive to fix and maintain. These are all significant concerns, which are limiting the market prospects, as incorporated in the keyless entry system industry analysis.

Country-wise Analysis

More consumers in today’s world are looking for comfort in their hectic schedule, this is making keyless entry systems a good product to invest in. Some of the major countries contributing to this market include the United States, Canada, China, and South Korea. Among these, the United States market is approximated to hold a significant keyless entry system market share in North America going forward.

What is Making the United States a Key Profit Country for Keyless Entry System Providers?

“Established Automobile Sector Paving Way for Manufacturers to Sale Keyless Entry Systems”

Attribute	United States
Market Value (2024E)	US$ 1.13 Billion
Growth Rate (2024 to 2034)	11.3% CAGR
Projected Value (2034F)	US$ 3.31 Billion

The United States will become a prime market for keyless entry system manufacturers in North America due to its well-established automobile sector. This industry is characterized by a high demand for advanced technology and safety features, making keyless entry systems increasingly appealing. More consumers prioritize convenience and security, therefore stimulating several leading automotive manufacturers to adopt these systems as standard features in new models.

The United States government’s regulations on vehicle safety encouraged manufacturers to innovate and incorporate technologies that enhance user experience. The presence of major automakers and a strong supply chain further facilitates the sourcing and integration of keyless entry systems.

Why are Manufacturers in China Exhibiting Huge Profits?

“Manufacturers Producing Systems at Economic Prices and Exporting at Significant Profit Margins”

Attribute	China
Market Value (2024E)	US$ 1.05 Billion
Growth Rate (2024 to 2034)	12.9% CAGR
Projected Value (2034F)	US$ 3.51 Billion

Several manufacturers are demonstrating impressive profit margins largely due to their ability to produce goods at remarkably low costs. A combination of efficient manufacturing processes, lower labor costs, and substantial investments in technology enabled these companies to maintain competitive prices.

Furthermore, China’s vast network of suppliers and infrastructure supports the rapid production and distribution of products, making it easier for manufacturers to meet global demand. By exporting goods to international markets, particularly in North America and Europe, they capitalize on significant profit margins as these markets often pay premium prices for the same products.

Category-wise Analysis

Due to rising popularity, several end users are showing their interest in these systems, as mentioned in the keyless entry system industry outlook. Some of the prominent end users include residential, commercial, and industrial.

Which Type of Keyless Entry System is Showing Significant Growth?

“Biometrics Segment Becoming a Favourite Profit Hub for Manufacturers”

Attribute	Biometrics
Segment Value (2024E)	US$ 1.08 Billion
Growth Rate (2024 to 2034)	12.6% CAGR
Projected Value (2034F)	US$ 3.63 Billion

The biometrics segment of keyless entry systems is experiencing substantial growth, emerging as a favored profit hub for manufacturers. This rise is attributed to the increasing need for enhanced security measures across several sectors. Biometrics, such as fingerprint scanning, facial recognition, and iris scanning, offer a higher level of security than traditional keyless systems.

As organizations seek to protect sensitive data and assets, they are turning toward biometric solutions to mitigate risks of unauthorized access. Moreover, advancements in technology made biometric systems more affordable and user-friendly, further driving their adoption.

Which End Users are Showing Great Interest in Keyless Entry Systems?

“Commercial End Users Significantly Investing in Keyless Entry Systems”

Attribute	Commercial
Segment Value (2024E	US$ 1.91 Billion
Growth Rate (2024 to 2034	12% CAGR
Projected Value (2034F)	US$ 6.18 Billion

Commercial end users are demonstrating significant interest in keyless entry systems, driven by the desire for enhanced security features and operational efficiency. Businesses across several sectors, including retail, hospitality, and corporate offices, are investing heavily in these systems to streamline access control.

Keyless entry systems not only improve security by minimizing the risk of lost or stolen keys but also enable businesses to monitor access in real time, track user activity, and manage permissions easily.

Business Competition

Key players in the keyless entry system market are improving their business tactics to keep themselves ahead of the other key players. Further, they are also focusing on evolving the keyless entry system market trends to get a competitive edge.

• The Alps Alpine Ltd. and the Global Security Technology Group partnered in April 2022 to create a wireless digital key system that complies completely with the unified global standard issued by the Car Connectivity Consortium.
• The Genesis SUV GV60, which is going to be the first SUV globally to use state-of-the-art facial recognition technology for biometric vehicle entrance and engine starting, was announced as the first keyless access face recognition technology in December 2022.

Fact.MR provides detailed information about the price points of key manufacturers of keyless entry systems positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Keyless Entry System Market Research

• By Type :

  • Biometrics
  • Facial Recognition
  • Iris Recognition
  • Signature Recognition
  • Fingerprint

• By End User :

  • Residential
  • Commercial
  • Industrial

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa