Vehicle Anti-theft System Manufacturers Find Low Cost Route to Ramp Up Production Amid Collaborations with Government Agencies
Fact.MR offers a comprehensive study on the global vehicle anti-theft system market for the forecast period of 2022 and 2027. The report also offers insights into the trends, opportunities, and recent developments across major geographies and segments including product, technology, vehicle type, and sales channel.
NEW YORK, Sept. 15, 2022 /PRNewswire/ — The global vehicle anti-theft system market is set to be valued at US$ 11.5 Billion in 2022, and it is likely to reach a valuation of US$ 16.2 Billion by the end of 2027. The market is projected to grow at a CAGR of 7.1% during the assessment period of 2022-2027.
Growing concerns among automakers and car owners regarding vehicle safety are likely to generate high demand for vehicle anti-theft systems during the evaluation period. Further, government regulations associated with the use of standard anti-theft systems are also likely to drive the market during the forecast period. For instance, in Europe and North America, immobilizers have been made mandatory by governments to curtail the instances of car thefts.
Advancements in innovative technology are a key factor influencing growth in the vehicle anti-theft system market. New technologies, such as Bluetooth, near-field communication (NFC), and the internet of things (IoT) have bolstered the overall security apparatus of a vehicle, giving consumers more safety options.
Engine mobilizers, coded smart keys, and telematics locating systems and vehicle parts are also being installed in premium vehicles by original equipment manufacturers (OEMs). Continuous innovation in these technologies are likely to pave the way for further growth in the global market.
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According to Fact.MR, based on product, demand for immobilizers is anticipated to grow at a CAGR of around 7.5% over the next five years. Various private organizations are teaming up with governments to mandate the installation of immobilizers as they are capable of providing a high level of security, as compared to other auto theft systems. Government agencies are also offering funds to private organizations for initiating production.
Immobilizers also alert owners of cars in the event of a forced entry, and some more sophisticated models even show the driver’s identity and current location. Immobilizer installation requirements from authorities and insurance firms are anticipated to fuel this market expansion through 2027.
Key Takeaways:
- By product type, car theft alarms are likely to remain a lucrative segment, growing at 5% CAGR during the assessment period.
- In 2022, the global vehicle anti-theft system market is projected to be valued at US$ 11.5 Billion.
- Asia Pacific is likely to remain at the forefront in the vehicle anti-theft system market with the presence of renowned automakers like Hyundai, Suzuki, and Nissan.
- Implementation of strict laws to ensure vehicle safety is estimated to drive the vehicle anti-theft system market in North America and Europe.
- In India, surging sales of luxury vehicles and high demand for two-wheelers are projected to push shipments of motorcycle anti-theft trackers in the assessment period.
Growth Drivers:
- Increasing adoption of keyless entry by using a smartphone by various reputed automakers worldwide is projected to drive the market.
- Rising use of biometric sensors to enable access inside vehicles with the encrypted fingerprint of owners is expected to propel the global market.
Restraints:
- Aftermarket installation of anti-theft systems can lead to unprovoked alarms, loss of ignition power, and trouble starting the vehicle, which may hinder their demand.
- Various cost-effective car alarm systems have a limited range, which means the owner has to be within that particular range to get the notification.
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Competitive Landscape:
Vehicle anti-theft system manufacturers are expected to focus on partnering with other companies and increasing their market presence by entering into mergers, collaborations, and partnerships. Further, many manufacturers are also focusing on collaborations with governments and local authorities to raise awareness about vehicle anti-theft systems.
For instance,
- In May 2022, Red Hat and General Motors announced a collaboration that aims to redefine the transportation landscape with a functional-safety certified, Linux-based in-vehicle operating system. The new innovative system is aimed to curb the threat of vehicle thefts and boost the safety profile of vehicles.
- In January 2022, Ford and ADT announced the launch of Canopy, a new joint venture designed to enhance vehicle security and address shortcomings. The new product is an accessory that can be mounted on vehicles to monitor the surroundings and alert owners when it detects a threat.
Key Companies Profiled by Fact.MR
- ALPS ALPINE CO. LTD
- I Car Srl
- Directed Inc.
- Atech Automotive (Wuhu) Co. Ltd.
- Mitsubishi Electric Corporation
- Tokai Rika Co. Ltd.
- Marquardt GmbH
- HELLA GmbH & Co. KGaA
- Aptiv plc
- Denso Corporation
- ALPHA Corporation
- Stoneridge Inc.
- Huf Hülsbeck & Fürst GmbH & Co. KG
- Valeo S.A.
- Continental AG
- Robert Bosch GmbH
More Valuable Insights on Vehicle Anti-theft System Market
In its latest study, Fact.MR offers a detailed analysis of the global vehicle anti-theft system market for the forecast period of 2022 to 2027. This study also divulges key drivers and trends promoting the sales of vehicle anti-theft systems through detailed segmentation as follows:
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
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Key Questions Covered in the Vehicle Anti-Theft System Market Report
- What is the anticipated size of the vehicle anti-theft system market in 2022?
- At what rate will sales in the global vehicle anti-theft system market grow until 2027?
- Which are the factors backing the demand in the vehicle anti-theft system market?
- Which region is expected to dominate the global vehicle anti-theft system market during 2022-2027?
- Which are the factors propelling sales in the vehicle anti-theft system market during the forecast period?
- What is the expected market estimation of the vehicle anti-theft system market during the forecast period?
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