Press Release
Press Release
The market growth can be attributed to the rising demand for remotely accessible keyless entry systems in the automotive sector. The introduction of various stringent government regulations regarding vehicle safety and the growing popularity of connected vehicles are fuelling the market for automotive keyless entry system. Moreover, the deployment of innovative technologies such as ultra-wideband (UWB) to enhance the security and functionalities of automotive keyless entry systems is expected to propel the market. The integration of such technologies to develop digital keys and eliminate the requirement for physical keys is also projected to drive the growth of the market. With the increasing interest in shared mobility, the trend is anticipated to grow in the forecast period owing to the rising demand for remote user authentication.
Continental AG (OTCMKTS: CTTAY), one of the leading companies in the market, partnered with Avis Budget Group, Inc. in December 2017 to offer enhanced experience to travellers in Kansas City. Under the agreement, the company would integrate its Key-as-a-Service (KaaS) technology in selected vehicles of Avis Car Rental Fleet. This would offer keyless entry and ignition while empowering Avis’s consumers to use the Avis mobile app to unlock/lock the car and start its engine. Through the partnership, the company aims to boost the convenience and personalisation of consumers by offering keyless car rentals. This also enables it to expand its offerings in the shared mobility market. Moreover, the initiative enhances the company’s position for collaboration with municipalities in Smart City projects across the globe. Such partnerships are bolstering the market for automotive keyless entry system.
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The major players in the global automotive keyless entry system market are DENSO Corporation, Hella KGaA Hueck and Co., Continental AG, Alps Electric Co., Ltd., STMicroelectronics International N.V., Valeo SE, and Microchip Technology Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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