The global keyless entry systems market to grow at a CAGR of 9.11% during the period 2017-2021.
The report, Global Keyless Entry Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.