Vehicle Anti -Theft Market Overview
The global vehicle anti-theft market is expected to grow at the CAGR rate of 7.12% from 2022 to 2030. A car anti-theft system is a device that helps secure unauthorized entrance into a vehicle since anti-theft methods have also emerged. Anti-theft systems improve vehiclesecurity while also potentially lowering insurance prices. It also comes with advanced security features, including stolen car monitoring, digital signal processing microprocessors, ultrasonic sensors, rechargeable batteries, and a closed toolchain for vehicle setup and simulation. There are many major key players of the market, including Continental AG, Tokai Rika, Ltd., Delphi Automotive LLP, Mitsubishi Electric Corporation, VOXX International Corp., etc., who make a remarkable contribution to the market growth with immense innovative approaches and implementing advanced technologies in the market sphere.
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Significant growth in the number of all kinds of cars, alarming incidences of vehicle thefts, and rising knowledge about automotive anti-theft technologies are driving the global vehicle anti-theft market. To combat automobile thefts, more advanced anti-theft systems with greater technology have been employed to improve passenger safety and convenience, particularly in public parking lots.Rising R&d operations to develop automotive anti-theft system technologies that blend luxury and safety are likely to provide new revenue opportunities for target market makers. Porsche AG, based in Germany, has integrated GPS-assisted anti-theft technology into their vehicles. In addition, the company has created car tracking software that can be accessed using a smartphone. One major market restraint can be the cost associated with the anti-theft system is included in the car's overall price. So, it is expected to have a low acceptance rate in the global anti-theft vehicle market, especially in developing countries.The surge in cybersecurity hazards is posing a major challenge in the global vehicle anti-theft market.
Vehicle Anti -Theft Market Segmentation
The vehicle anti-theft market is segmented on the basis of products, vehicle type, technology. By the application segment, the global market is segmented into steering lock, immobilizer, biometric capture device and alarm.
Further, according to the technology segment, the market is divided into global positioning systems (GPS), global systems for mobile communication (GSM), real-time location systems (RTLS), face detection systems, automotive biometric technology.
Based on the vehicle type segmentation, the market is further segmented into passenger cars commercial vehicles.
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Vehicle Anti -Theft Market Regional Analysis
According to this market report, the vehicle anti-theft market region segment is globally segregated into North America, Europe, Asia Pacific, and the rest of the world. The Asia-Pacific region dominates the market on the basis of growing market value. The reason can be attributable to the region's rapidly rising urban population, resulting in increased vehicle sales and expanding automobile manufacturing every year. It is predicted that the Asia Pacific will continue to dominate the market in the forecast period. The Asia Pacific has the largest market share, followed by North America and Europe. Original equipment manufacturers (OEMs), including Ford Motor Company, General Motors, and Fiat-Chrysler Automotive, are driving the industry forward in North America.
Key Players:
• Continental AG
• Robert Bosch GmbH
• Tokai Rika Ltd.
• Lear Corporation
• Johnson Electric
• Delphi Automotive LLP
• ZF-TRW
• Mitsubishi Electric Corporation
• VOXX International Corp.
Vehicle Anti -Theft Industry News
• Porsche, a major key player inthe vehicle anti-theft market, has announced that its vintage Porsche vehicles will soon be equipped with GPS-enabled anti-theft technology.
• Bosch, a well-known manufacturer of anti-theft systems for autos, has announced to launch of a new TRACI solution for monitoring agricultural and construction machines, vehicles, and speciality equipment.