Global Vehicle Anti-Theft System Market To Be Driven By The Growing Car Ownership In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Vehicle Anti-Theft System Market Analysis, Share, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global vehicle anti-theft system market, assessing the market based on its segments like vehicle types, product types, technologies 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 indicators, along with analysing 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 (2018-2028)
- Historical Market Size (2020): USD 10.87 Billion
- Forecast CAGR (2023-2028): 6.57%
- Forecast Market Size (2026): USD 15.92 Billion
The market for vehicle anti-theft is being aided by the growing car ownership in developed and developing countries. As cars are one of the most valuable assets, their owners are increasingly adopting secure anti-theft systems to bolster their security. The increasing incidences of burglary and theft in developing countries is also propelling the growth of the vehicle anti-theft system industry. Moreover, the increasing use of global positioning system (GPS) technology to identify the real-time location of vehicles is driving the market growth. The trend is being escalated by the growing cost-effectiveness of global positioning systems (GPS), which is increasing their deployment in mid-range vehicles, thus fuelling the market growth.
Vehicle Anti-Theft System Industry Definition and Major Segments
A vehicle anti-theft system is a system that provides security to automobiles by hindering unprecedented intrusion or theft. It is typically used in both private vehicles to detect security or safety threats to automobiles. It deploys several techniques ranging from alarms to iris recognition systems to enhance the security of vehicles.
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The market can be broadly categorised on the basis of its vehicle types are:
- Passenger Vehicle
- Commercial Vehicle
- Others
The major product types of vehicle anti-theft system are:
- Immobilisers
- Alarm
- Steering Lock
- Central Locking System
- Biometric Capture Device
- Remote Keyless Entry
Based on technology, the market is divided 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 major regional markets of vehicle anti-theft system are:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Vehicle Anti-Theft System Market Trends
The growth for vehicle anti-theft system is being driven by the integration of various technological advancements to boost the functionality of the system. The growing popularity of automotive biometric technology to enhance the security of vehicles is bolstering the market growth. As biometric technology may lead to digital vulnerability, fingerprint and iris recognition sensors are increasingly adopted by automotive manufacturers to boost the security of automobiles, which is estimated to aid the market growth. Moreover, the development of innovative technologies such as multi-modal is projected to provide impetus to the growth of the vehicle anti-theft system industry in the forecast period.
Key Market Players
The major players in the market are Continental AG, DENSO Corporation, Hella KGaA Hueck & Co., Lear Corporation, and Mitsubishi Electric Corporation, among 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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