A Synopsis of the Global Keyless Entry System Market with Reference to the Global Information & Communication Technologies (ICT) Sector Outlook
The global digital ecosystem has been continuously evolving over the last few years. The worldwide ICT sector has witnessed some key disruptions of late and governments of various economies are devising and implementing smart and inclusive regulations to govern sector penetration and facilitate technology connectivity to all parts of the world. Even as the world of technology prepares for a massive revolution with unimaginable advancements powered by machine intelligence, here are some of the key drifts presently trending the global ICT sector:
- Mobile as the new internet accessibility engine: Currently, about three-fourths of internet usage is through mobile phones, with an increasing usage witnessed in low-income and middle-income countries. Yet, over half the world’s population is bereft of mobile broadband internet services. Mobile data providers have accepted this challenge and are targeting niche, unpenetrated markets with high-speed connectivity offerings to increase their customer base.
- Cloud computing to shoot beyond the sky: Cloud is a potent catalyst in all technological advances of the 21st Cloud is transforming the way enterprises handle big data, and ICT companies are looking to deploy new mechanisms and tools to “speak to data” and acquire the relevant information capable of impacting cross sector business growth.
- Swifter integration of networks and technologies: ICT will continue to disrupt industries and with an increasing shift in focus towards cross-functional platforms that integrate networks, devices, and technologies, a structured integration of communication applications and protocols is fueling new service offerings.
- An app-led technology universe: If mobile is at the heart of the ICT revolution, mobile apps are the arteries that pump in the necessary innovation for survival. The rise of start-ups offering a plethora of mobile apps is set to revolutionize the entire paradigm of the global ICT sector.
- Cyber readiness is the norm: A rapid digitalization has also upped the risk of cybercrimes and cyber-attacks. Mobile companies are working to build secure ICT servers and networks and cyber readiness is of paramount importance today while introducing new products and services in the global market.
PMR utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
PMR collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
In this phase, PMR validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
Standard Report Structure
- Executive Summary
- Market Definition
- Macro-economic analysis
- Parent Market Analysis
- Market Overview
- Forecast Factors
- Segmental Analysis and Forecast
- Regional Analysis
- Competition Analysis
The global keyless entry system market has been segmented into:
- North America
- Latin America
- SEA and others in APAC
- Facial Recognition
- Iris Recognition
- Signature Recognition
- Magnetic Stripe Cards
- Proximity Cards
- Smart Cards
- Keypad Entry Access Systems
- Remote Access
Owing to the advantages and efficiency associated with RFID-based products, the next few years are expected to witness increasing investments in the RFID industry, which will reportedly sustain in the long run. In addition to RFID-based systems, high demand for remotely accessible i.e. keyless entry systems is also being observed from several end users. The presence of limited vendors in the market is likely to offer high opportunity for growth providing easy entry to new players foraying in the global keyless entry system market.
Growing demand for enhanced security access systems is being witnessed across healthcare and financial organizations, owing to the critical need for privacy and limited accessibility. This demand is further expected to increase in near future, which will reportedly create high-growth opportunities in the market for keyless entry systems through 2026. In order to provide an efficient layer of security, end users have started adopting and installing keyless entry systems (especially remote access keyless entry systems, RFID proximity card reader entry systems, and keypad access systems), which, as a result, is expected to support the growth of the keyless entry system market during the forecast period. Moreover, a few recent surveys reaffirm declined theft rates in those areas that have been equipped with keyless entry systems.
North America’s Hospitality Industry Gets an Upgrade with Smartphone-enabled Entry Access Systems
Increasing living standards and the demand for a seamless end-user experience in North America has led to the introduction of smartphone-enabled entry access systems in hotels and the entire hospitality sector. Furthermore, high competition in the industry has led to increased adoption at a faster rate, which has offered an attractive opportunity to vendors. For instance, OpenKey, a recently formed smartphone application startup based in the U.S., enables guests at hotels to lock/unlock their rooms using only a smartphone application.
Soaring Application of Biometric Access in European Government Sector Enables the Region to Secure Second Largest Market Position
In Europe, rising adoption of biometric entry access systems is being observed in the government sector to promote border management, provide hassle-free access to authorized individuals, and help in efficient management of the workforce. The U.K. Government verifies fingerprints using a fingerprint biometric system to grant access to individuals into the country, as a part of their border management process. Other than these, the demand for remote access entry systems is also catered with the deployment of the same, in both, the residential and hospitality sectors.
Surging Demand for Bluetooth-enabled Biometric Systems Uplifts Chinese Market for Keyless Entry Systems
Owing to the rising penetration of Bluetooth technology and burgeoning demand for remote accessibility by end users, increasing adoption of Bluetooth-enabled keyless entry systems is being witnessed from the residential segment in the region. Various vendors have started offering the same with an intention of expanding their business, especially in the unorganized market. YGS, a local Chinese vendor of digital keyless entry systems, offers a wide product portfolio for biometric-enabled entry systems in the region.