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The vehicle access control market share is expected to increase by USD 4.59 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.71%.
This vehicle access control market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers vehicle access control market segmentation by technology (RFID, NFC, bluetooth, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The vehicle access control market report also offers information on several market vendors, including Axis Communications AB, BIODIT AD, Continental AG, DENSO Corp., FEIG ELECTRONIC GmbH, Fingerprint Cards AB, HELLA GmbH and Co. KG, Johnson Electric Holdings Ltd., Lear Corp., MinebeaMitsumi Inc., Mitsubishi Electric Corp., Nortech Access Control Ltd., Nuance Communications Inc., NXP Semiconductors NV, Robert Bosch GmbH, STid, Synaptics Inc., Tokai Rika Co. Ltd., Valeo SA, and VOXX International Corp. among others.
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The rising vehicle theft is notably driving the vehicle access control market growth, although factors such as the sharp decline in automobile production and sales may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vehicle access control industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Vehicle Access Control Market Driver
The rising vehicle theft is one of the key drivers supporting the vehicle access control market growth. According to the FBI Uniform Crime Reporting Program, there was an estimated 721,885 thefts of motor vehicles in the US in 2019. For instance, in the UK, the rate of motor vehicle thefts from 71 vehicles per 1,000 cars in 2015 increased to 115 cars per 1000 cars in 2019. Moreover, technological advancements have resulted in the creation of modern vehicle access control systems to give an excellent driving platform which is also driving consumers to choose a vehicle with the most up-to-date access control system. Thus, growing car theft incidences in developed countries such as the US and the UK are expected to drive the growth of the market during the forecast period.
Key Vehicle Access Control Market Trend
The development of the standard ecosystem for keyless vehicles access is one of the key vehicle access control market trends that is contributing to the market growth. The digital key architecture uses standardized interfaces to ensure interoperability between implementations by mobile device manufacturers and vehicle manufacturers, and it uses standard-based public key infrastructure to establish end-to-end security. Mobile devices create and store digital keys insecure elements that provide the highest level of protection from hardware or software-based attacks. The architecture is also designed to allow vehicle owners to access their vehicles without internet connectivity while also allowing vehicle manufacturers to add features that require internet connectivity for specialized features. Hence, such factors are expected to drive the global vehicle access control market during the forecast period
Key Vehicle Access Control Market Challenge
The sharp decline in automobile production and sales is one of the factors hindering the vehicle access control market growth. For instance, in India, passenger vehicles worth around $5 billion from various OEMs, such as Maruti Suzuki India Ltd., Tata Motors Ltd., Honda Motor Co. Ltd., and Mahindra and Mahindra Ltd., were unsold as of June 2020, due to COVID 19 pandemic. In 2020, the outbreak of the COVID-19 virus across the world had led to the imposition of the nationwide lockdown, which as further led to the closure of the manufacturing facilities such as automobile. This compelled automotive OEMs to temporarily stop production. Such factors are expected to decrease the demand for vehicle access control systems, which, in turn, will hamper the growth of the global vehicle access control market during the forecast period.
This vehicle access control market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global vehicle access control market as a part of the global auto parts and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vehicle access control market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the vehicle access control market encompasses successful business strategies deployed by the key vendors. The vehicle access control market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vehicle access control market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the vehicle access control market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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35% of the market's growth will originate from Europe during the forecast period. Germany and the UK are the key markets for the vehicle access control market in Europe. Market growth in this region will be faster than the growth of the market in other regions.
The rising sales of automobiles will facilitate the vehicle access control market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID 19 negatively impacted the global vehicle access control market. However, due to the COVID 19 pandemic, manufacturers in the industry are now emphasizing building software systems to make their cars more digitalized and enhance vehicle access systems. Such factors will drive market growth during the forecast period.
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The vehicle access control market share growth by the RFID segment will be significant during the forecast period. The RFID segment captured the largest market share in the global vehicle access control market in 2021. This is attributed to its low cost, easy installation on vehicles, and quick access authorization for vehicle owners compared to other segments. Furthermore, the RFID application is comprised of residential buildings, commercial buildings, tollways, and others. The access control system uses RFID technology for entry or exit at tollways and highways. These systems help to mitigate traffic congestion problems at tollways. Thus, the continuous expansion of road infrastructure in the region will lead to the installation of more new toll gates, which will drive market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the vehicle access control market size and actionable market insights on post COVID-19 impact on each segment.
Vehicle Access Control Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.71% |
Market growth 2022-2026 |
$ 4.59 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.89 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 35% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Axis Communications AB, BIODIT AD, Continental AG, DENSO Corp., FEIG ELECTRONIC GmbH, Fingerprint Cards AB, HELLA GmbH and Co. KG, Johnson Electric Holdings Ltd., Lear Corp., MinebeaMitsumi Inc., Mitsubishi Electric Corp., Nortech Access Control Ltd., Nuance Communications Inc., NXP Semiconductors NV, Robert Bosch GmbH, STid, Synaptics Inc., Tokai Rika Co. Ltd., Valeo SA, and VOXX International Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Technology
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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