Global Keyless Entry Systems Market To Grow At A Phenomenal Cagr Of 9.11% During The Period 2017-2021

Orbis Research Presents Global Keyless Entry Systems Market 2017-2021 sheds light on the various factors and trends impacting market growth over the forecast period (2017 – 2021)

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Latest Research Report – Global Keyless Entry Systems Market 2017-2021

The Following Companies As The Key Players In The Global Keyless Entry Systems Market: Atmel, Continental Automotive, Delphi Automotive, HELLA, Mitsubishi Electric, 3M Cogent, Allegion, AMAG Technology, Gemalto, Honeywell Security, IriTech, 3M Cogent, AGNITIO, BioEnable, BIO-key, Crossmatch, HID Global, Iris ID, M2SYS Technology, Motekforce Link, NEC, Nuance Communications, Qualisys, and Safran.

Other Prominent Vendors in the market are: Airborne Biometrics, Animetrics, Anviz Global, Avalon Biometrics, Aware, BioLink Solutions, DERMALOG Identification Systems, Diamond Fortress, Fingerprint Cards, Fulcrum Biometrics, Futronic Technology, Idex ASA, IGSUS, Inception Technologies, Precise Biometrics, RCG Holdings, SecuGen, Suprema, and Tekno Electro Solutions.

Commenting on the report, “One trend in market is introduction of smartphone-based keyless entry systems in hotels. With the rise in living standards of the global population, there is a demand for access to new and advanced technologies among consumers across different sectors. The hospitality sector is no exception. Its consumers are provided with the best experience in terms of hotel stays and other hospitality services. The hospitality industry is highly competitive, and hotels compete by providing a user-friendly experience to their guests.”

According to the report, one driver in market is high penetration of keyless entry systems in automotive sector. The global passenger car market is largely driven by the need for ease of operation of vehicles on a daily basis. With the development of the global economy, the living standards of the population, especially the middle-class population, has considerably increased. Consecutively, the demand for value-added features in passenger cars is continuously increasing. Consumers demand vehicles that provide an overall satisfying ownership experience. A keyless entry system is one of the value-added features in passenger cars that is in huge demand among consumers. The RKE system is globally accepted as a standard fitment in passenger cars. In addition, there are a lot of other new keyless entry systems that are popular in the automotive industry, such as the PKE system. However, the high cost of PKE compared with the standard RKE systems is hindering the growth of the technology.

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Further, the report states that one challenges in market is high initial and replacement costs. High cost is a major factor that inhibits the adoption of keyless entry and access control systems. Alternative security solutions such as magnetic stripe cards, tokens, and keypads are inexpensive compared with biometric systems and smart cards. Therefore, these traditional security solutions are popular in small- and medium-sized enterprises in developing countries. Smart cards are expensive as each smart card is embedded with a magnetic chip that is priced as per the level of security. The cost of the magnetic chip generally varies depending on the user requirements. The installation and maintenance of some biometric systems on a small scale are inexpensive, whereas the lifetime cost of other sophisticated systems used in large-scale operations is expensive. The implementation costs for such large-scale systems include not only the initial capital expenditure for hardware and software but also the cost of issuing identity documents, training and employing staff, maintaining equipment, and managing databases.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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