The vehicle keyless go market is anticipated to grow at a significant CAGR of 9.2% during the forecast period (2022-2028). The vehicle keyless go system passively locks and unlocks the vehicle, as well as starts and stops the engine. This eliminates the need for the user to actively hold the radio transmitter key and push the radio transmitter buttons to activate the appropriate functionality. These entrance and driving authorization systems improve user comfort and make it easier to get in and out of the car. To gain full information on the exact system utilized in any given car, the vehicle manufacturer’s specifications are necessary. A number of system components must be introduced to the system in order for the passive entry / go function to work. The major factor driving the growth of the market includes the growing demand for connected cars and the integration of smartphones.
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The global vehicle keyless go market is segmented based on technology and end-user. Based on the technology, the market is sub-segmented into the remote keyless entry, passive keyless entry, and others. Based on the end-user, the market is sub-segmented into OEMs and aftermarkets. Among these end-users, the aftermarket segment is expected to propel the growth of the market due to the increasing demand for smart keys in vehicle after-sales. People prefer to purchase vehicles in the base model and then get personalized smart keys installed, which is contributing to the growth of the segment.
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The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2020, Renault announced the launch of a new version of Duster with keyless go entry system technology. This technology also allows starting air-conditioning before getting into the car using the remote engine start. Similarly, in February 2020, Kia launched Carnival with a keyless go entry access system and in March 2020, Hyundai launched a new version of Creta with the keyless entry access system.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Technology
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Alpha Corp., Minda Corp. Ltd., Denso Corp., Continental AG, Honda Lock Mfg Co. Ltd., ZF Friedrichshafen AG, and Valeo SA, HELLA GmbH & Co. KGaA, Tokai Rika Co. Ltd., and Silicon Laboratories Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Vehicle Keyless Go Market Report by Segment
By Technology
- Remote Keyless Entry
- Passive Keyless Entry
- Others
By End-User
- OEMs
- Aftermarket
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