The new report by Expert Market Research titled, ‘Global Vehicle anti-theft system Market
Report and Forecast 2022-2027, gives an in-depth analysis of the vehicle anti-theft system, assessing the market based on its segments like vehicle type, product type, technology, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
Historical Market Size (2020): USD 10.87 Billion
Forecast CAGR (2022-2027): 6.57%
Forecast Market Size (2027): USD 15.92 Billion
High vehicle theft incidence is one of the major factors for the increasing adoption of vehicle anti-theft systems all across the globe. Moreover, the development of affordable vehicle anti-theft systems is a key factor in the growth of the market. Due to this, the systems can be integrated into low-end cars also. In addition, the increasing adoption of the anti-theft vehicle in commercial vehicles and two-wheelers is also a driving factor for the market. With the increasing sales of the vehicle, the market is expected to further bolster during the forecast period. Favorable government regulations related to vehicle safety is driving the market growth. For instance, in Canada, it is mandatory to equip new cars, vans, light trucks, and SUVs with anti-theft engine mobilisers.
A vehicle anti-theft system enhances the security of a vehicle by preventing the unwanted intrusion or theft of a vehicle and enhancing its security. It utilises various technologies to detect potential threats that can lead to the theft of vehicles, due to which it is increasingly deployed by vehicle owners. A vehicle anti-theft system can range from simple vehicle alarms to biometric capture devices.
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By Vehicle Type, the market is segmented into:
By Product Type, the market can be segmented into:
Central Locking System
Biometric Capture Device
Remote Keyless Entry
Based on technology, the market is segmented into:
Global Positioning System (GPS)
Global Systems for Mobile Communications (GSM)
Real-Time Location System (RTLS)
Face Detection System
Remote Frequency Identification Device (RFID)
Automotive Biometric Technology
The regional markets for the Global Vehicle anti-theft system Market can be separated into:
United States of America
The Middle East and Africa
United Arab Emirates
Technological advancement and mass manufacturing of products at affordable prices are key factors for the market. Vehicle anti-theft system increases the safety as well as convenience of the vehicle. Multi-mode technologies which scan fingerprints, iris, facial recognition, or voice control prevent the intrusion of unauthorised person in vehicles as well as offer the convenience of not using a key to ignite the engine. It is further expected to drive the market during the forecast period. Moreover, the development of keyless technologies to eliminate the risk of vehicle theft is expected to provide a significant thrust to the market growth. The growth in self-driving vehicles, integration of V2X, and AI are expected to provide a significant opportunity to the market in the near future.
Key Market Players
The major players in the market include Continental AG, DENSO Corporation, Hella KGaA Hueck & Co., Lear Corporation, Mitsubishi Electric Corporation, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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