Dublin, Ireland, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The global vehicle anti-theft system market stands at a value of US$ 11.5 billion and is projected to reach US$ 16.2 billion by the end of 2027. Vehicle immobilizer systems are expected to exhibit demand growth at 7.5% CAGR owing to stringent government regulations in several countries that mandate the installation of immobilizers as they have been proven to be more secure than other auto theft systems.
The rising use of aftermarket vehicle anti-theft products and increasing availability of the same is also expected to propel vehicle anti-theft system shipments over the next five years.
This latest market study of the vehicle anti-theft system industry by analysts at Fact.MR, a market research and competitive intelligence provider, details a complete analysis of the market trends, opportunities, and restraints on a regional level.
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Key Takeaways from Market Study
- From 2022 to 2027, the market for vehicle anti-theft systems is predicted to exhibit evolution at a CAGR of 7.1%.
- The market for vehicle anti-theft systems in the Asia Pacific region currently accounts for a major market share and is expected to maintain this stance over the next five years as well.
- Demand for immobilizers is anticipated to increase at a CAGR of around 7.5% over the next five years and is expected to be of major interest to companies looking to increase their sales and revenue generation capacity.
- The global vehicle anti-theft system market, based on product type, is segmented into steering locks, alarms, biometric capture devices, immobilizers, remote keyless entry, and central locking.
- The demand for car theft alarm systems is projected to increase at 5% CAGR.
Competitive Landscape
Companies in the vehicle anti-theft system marketplace are anticipated to focus on the deployment of strategies that would help them increase their market presence such as mergers, collaborations, and partnerships.
- In January 2022, Ford, a leading automotive manufacturer, and ADT, a home and business security solutions provider, announced the launch of a new joint venture to enhance vehicle security and address shortcomings of the same. The venture titled Canopy had plans to launch an accessory that can be mounted on vehicles to monitor the surroundings and alert vehicle owners.
- SecureThings.ai, a California-based startup, founded in 2018, is tackling modern automotive security issues with artificial intelligence (AI) and machine learning. The company aims to target new trends in the automotive industry such as autonomous driving, electric vehicles, and automotive IoT.
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Segments of Vehicle Anti-theft System Industry Research
- By Product:
- Steering Locks
- Alarms
- Biometric Capture Devices
- Immobilizers
- Remote Keyless Entry
- Central Locking
- By Technology:
- Global Positioning System (GPS)
- Global System for Mobile Communications (GSM)
- Face Detection Systems
- Global Radio Frequency Identification
- Real-time Location Systems (RTLS)
- Automotive Biometric Technologies
- By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Off-highway Vehicles
- By Sales Channel:
- OEMs
- Aftermarket
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
The Vehicle Anti-theft System report covers exhaustive analysis on:
- Vehicle Anti-theft System Market Segments
- Vehicle Anti-theft System Market Dynamics
- Vehicle Anti-theft System Market Size
- Supply & Demand of Vehicle Anti-theft System
- Current Trends/Issues/Challenges in Vehicle Anti-theft System Market
- Vehicle Anti-theft System Competition & Companies involved
- Vehicle Anti-theft System Technology
- Vehicle Anti-theft System Value Chain
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Objectives of the Study
- To define, describe, and forecast the global market for vehicle anti-theft systems on the basis of vehicle type, product type, active/passive type, technology, and region, in terms of volume (thousand/million units) and value (USD million/billion)
- To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, industry-specific challenges, and burning issues)
- To analyze opportunities for stakeholders and provide details of the competitive landscape for market leaders
- To strategically analyze sub segments (vehicle type, product type, and technology) with respect to individual growth trends, future prospects, and contribution to the total market
- To forecast the size of market segments with respect to four main regions (along with key countries)— namely, Asia-Pacific, North America, Europe, and the Rest of the World (RoW)
- To strategically profile key players and comprehensively analyze their strategies and core competencies
- To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, and research & development (R&D) in the vehicle anti-theft system market
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Vehicle Anti-theft System Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the Vehicle Anti-theft System Market, By Product Type (Steering Locks, Alarms, Biometric Capture Devices, Immobilizers, Remote Keyless Entry), By Technology ( GPS, GSM, Face Detection Systems, Global Radio Frequency Identification, RTLS), By Vehicle Type - Global Forecast 2022-2027
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