Keyless Entry System Market: Business Growth, Development Factors, Application a

Posted by surendra choudhary on June 12th, 2019

Keyless entry system is technology that provides physical access to an individual inside any premises or automotive without the use of a mechanical key for performing the locking and unlocking operation. Keyless entry system provides an enhanced convenience and security to the users. In case of a keyless entry system, the users get secure and authorized access to an automotive or premise with the use of various external devices or gesture such as a keyless fob or a smart card, or by the use of their own voice, fingerprints or facial recognition among others. Owing to rapidly increasing adoption of smart technologies across various application sectors, keyless entry systems is increasingly installed among users especially in the transportation sector, government sector, banking financial services and insurance (BFSI) sectors and hospitality industry among others. The global Keyless Entry System market is anticipated to experience a robust growth during the forecast period from 2017 to 2025, due to rising demand for hassle free access across the world.

For the purpose of providing an extensive and in-depth analysis of the market, the global Keyless entry System Market has been segmented on the basis of product type and end user. Depending on the technology in which a keyless entry system majorly operates, the market has been categorized into RFID (Radio Frequency Identification) based keyless entry system and BLE (Bluetooth Low Energy) based keyless entry system among others.

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In addition, information related to application of keyless entry system across various end user segments including automotive industry, government sector, BFSI sector, healthcare industry, transportation sector and hospitality industry among others is also highlighted in this report. Moreover, cross sectional analysis of various product type and application segment of keyless entry system across various regions such as Europe, North America, Asia Pacific, Middle-East and Africa (MEA) and Latin America is also provided in this report.

Increasing adoption of keyless entry system in the automotive sector is one of the key factor anticipated to boost the market growth of keyless entry system during the forecast period from 2017 to 2025. Global demand of passenger car is largely influenced by the ease of operation of the vehicle. With the rising growth of the global economy coupled with increasing standard of living especially for the middle-class population, the demand for value added features in the passenger car segment is anticipated to increase at an exponential rate. Keyless entry system is one of such value added feature in the passenger car segment that provides enhanced safety and ease of operation. This is turn, is expected to drive the market growth of keyless entry system in the coming years. Moreover, introduction of keyless entry system in the hospitality industry for providing a user friendly experience to various guests, is also predicted to create a better opportunity for various keyless entry system manufacturers in the coming years.

Among the different types of keyless entry system available in the market, Bluetooth passive keyless entry (PKE) system held the largest market share in 2016 owing to its extensive utilization in the automotive sector.

On the other hand, based on the demand of keyless entry system across various end user segments, the healthcare sector is anticipated to pose the most promising demand in the coming years. Implementation of stringent regulation by the government for maintaining patience privacy is of the most important factor expected to trigger the demand of keyless entry system form the healthcare sector. Healthcare fraud, inaccurate patient identification and medical identity theft have witnessed a rapid decline since the adoption of keyless entry system systems in the healthcare sector.

Some of the major players operating the global Keyless Entry System Market includes Atmel (The U.S), Mitsubishi Electric (Japan), 3M Cogent (The U.S) and Delphi Automotive (The U.K) among others.