Worldwide Keyless Entry Systems Market to 2027 - Impact of COVID-19

Dublin, July 21, 2020 (GLOBE NEWSWIRE) -- The "Keyless Entry Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to this 6th edition of our report. The 188-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Keyless Entry Systems Market to Reach US$114.1 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Keyless Entry Systems estimated at US$68.4 Billion in the year 2020, is projected to reach a revised size of US$114.1 Billion by 2027, growing at a CAGR of 7.6% over the period 2020-2027.

Device-based, one of the segments analyzed in the report, is projected to grow at a 7% CAGR to reach US$77 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biometric-based segment is readjusted to a revised 8.9% CAGR for the next 7-year period. This segment currently accounts for a 29.9% share of the global Keyless Entry Systems market.

The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 7.1% CAGR for the Period of 2020-2027

The Keyless Entry Systems market in the U.S. is estimated at US$20.2 Billion in the year 2020. The country currently accounts for a 29.56% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$20 Billion in the year 2027 trailing a CAGR of 7.1% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 6.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR while Rest of European market (as defined in the study) will reach US$20 Billion by the year 2027.

Competitors identified in this market include, among others

• 3M Cogent

• Allegion PLC

• AMAG Technology, Inc.

• Animetrics

• Anviz Global

• Aptiv PLC

• Atmel Corporation

• Aware, Inc.

• Bioenable Technologies Pvt., Ltd.

• BIO-key International, Inc.

• BioLink Solutions

• Continental Automotive GmbH

• Crossmatch Technologies

• DERMALOG Identification Systems GmbH

• Diamond Fortress Technologies

• Facefirst Inc.

• Fulcrum Biometrics LLC

• Futronic Technology Co. Ltd.

• Gemalto NV

• HELLA GmbH & Co. KGaA

• HID Global Corporation

• Honeywell Security

• Idex Asa

• Inception Technologies Inc.

• Iris ID Systems, Inc.

• IriTech, Inc.

• M2SYS Technology

• Mitsubishi Electric Corporation

• Motekforce Link

• NEC Corporation

• Nuance Communications, Inc.

• Precise Biometrics AB

• Qualisys AB

• Safran Group

• SecuGen Corporation

• Suprema, Inc.

• Tekno Electro Solutions Pvt. Ltd.
  

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Global Competitor Market Shares

• Keyless Entry System Competitor Market Share Scenario Worldwide (in %): 2019 & 2025

• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 47

For more information about this report visit https://www.researchandmarkets.com/r/gtr23p

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