Global Stolen Vehicle Security System Market – Industry Trends and Forecast to 2030

Stolen Vehicle Security System Market Analysis and Size

The growing awareness of auto safety and theft prevention among car owners is the primary driver of the growth of the global market for vehicle security systems, which is predicted to consolidate soon. The market is anticipated to expand quickly due to technological advancements in vehicle security systems. The growth of  vehicle security system market is being driven by the installation of car security systems in almost every vehicle to deter theft. On the other hand, the market for global auto security systems is anticipated to grow due to the rising demand for face detection and face positioning systems. Government agencies and insurance firms also pressure automakers to make vehicle security systems a standard feature on new models.

Data Bridge Market Research analyses that the stolen vehicle security system market, valued at USD 10.25 billion in 2022, will reach USD 17.65 billion by 2030, growing at a CAGR of 7.03% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Stolen Vehicle Security System Market Scope and Segmentation  

Market Definition

The stolen vehicle security system combines various technologies to track a vehicle's location in real-time. Some systems combine GPS technology with cellular or radio transmitters to track vehicles. The vehicle security system consists of gadgets that use a sensor or an alarm to safeguard the vehicle and keep an eye on it to prevent theft and other crimes. Additional vehicle security methods include a computerized data network, door lock, and factory alarm system control.

Stolen Vehicle Security System Market Dynamics

Drivers

• Ongoing cyberattacks are anticipated to fuel the growth

A cyberattack is a planned attempt by a person or organization to breach the information system of another person or organization, and it will continue to be a growing market for vehicle security systems. As the automotive industry innovates more, cybersecurity becomes a more pressing issue. Electronic systems, communication networks, software, and data collected by the new generation of smart cars are protected from harm by automotive vehicle security systems. Hackers may steal data or take over a vehicle's computer systems if they aren't adequately secured. For instance, the number of cyberattacks on cars increased in 2021, with 85% of the attacks being carried out remotely, according to the automotive cybersecurity report 2021 published by Upstream, an Israeli automotive cybersecurity company. Consequently, the market for vehicle security systems is expanding due to the rise in cyberattacks.

• Government adoption of vehicle security standards

Installing car security systems in virtually every vehicle to protect it from thieves is driving the growth of the vehicle security system market. The demand for face detection and positioning systems is expected to drive growth in the global auto security system market. Additionally, the government and insurance companies are pressuring automakers to include vehicle security systems as standard equipment in new vehicles in several nations, including Brazil and Indonesia.

Opportunities

• Technological progress has become a major trend that is becoming more and more popular

Technology development has become a key trend that is becoming increasingly popular in the vehicle security systems market. Major businesses in the vehicle security system industry are concentrating on creating new technological solutions to strengthen their position. For instance, U.S. automaker Ford and U.S. security company ADT Security Services announced a $100 million stand-alone joint venture called Canopy in January 2022 to use sensors and AI to help prevent vehicle theft. According to the companies, Canopy will initially provide customers with an after-market security product for installing a camera in a cargo vehicle or pickup that faces back and relies on AI to identify and report credible threats as well as sound an alarm when motion, suspicious sounds, or signs of metal cutting or breaking glass are heard close to a vehicle. Preventing vehicle theft is the primary goal of joint ventures and technologies; thus, it creates excellent opportunities for the market to grow.

• Utilizing Internet of Things (IOT) to Recover Stolen Vehicles

IOT devices and networks, as opposed to conventional security systems, present SVR companies with a novel offering. IOT gadgets can be quickly and easily installed in any vehicle and are small enough to be hidden inside. IOT devices are more appropriate for SVR companies because they also have low power and inexpensive batteries and help lower the vehicle's high maintenance costs by monitoring the battery consumption. Additionally, Internet of Things solutions providers has created geolocation tools based on network triangulation that can estimate where stolen vehicles might be. Thus, the market for recovering stolen vehicles is expected to undergo a revolutionary change and create growth opportunities.

Restraints/Challenges

• Lack of knowledge prevents the development

One of the significant obstacles to the expansion of this market is a lack of knowledge about the features and advantages of car security systems. Consumers in developing nations hesitate to invest in the newest technologies because they are unaware of them. Another significant barrier to market growth is the lack of standardization in automotive security systems. It can be challenging for customers to select the ideal system for their needs because different manufacturers offer a variety of features and technologies in their products.

• High installation and maintenance costs may limit market expansion

The cost of car security systems is a significant barrier to the market's growth. With the methods that are typically too expensive, especially in developing countries, most consumers cannot afford them. Installation and maintenance of a car security system can be challenging and time-consuming. This is yet another important factor that restricts the market growth. Because of the high cost of care and the difficulty in mintaining for them, consumers cannot purchase products for vehicle security.

This stolen vehicle security system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the stolen vehicle security system market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2021, Various locking and unlocking options were available on a critical smartphone platform that Tokai Rika and Dai Nippon Printing have jointly developed. This platform can distribute and manage digital keys across the country in various fields, vehicles, and the mobility industry.

Global Stolen Vehicle Security System Market Scope

The stolen vehicle security system market is segmented on the basis of product type, technology, component, sales channel, and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

• Central Locking System
• Car Alarm
• Immobilizer
• Remote Keyless Entry System
• Tracking System
• others

Technology

• Ultrasonic
• Radio Frequency Identification
• Global Positioning System
• Global System For Mobile Communication
• Face Detection System
• Real Time Location System
• Other Technologies

Component

• Backup Battery Siren (BBS)
• Central Looking System

• Ultrasonic Intruder Protection System (UIP)
• Automatic Collision Detection System
• Automatic Driver Recognition System (ADRS)
• Others

Sales Channel

• OEM
• Aftermarket

Vehicle Type

• Passenger Cars
• Compact
• Mid-size
• Luxury
• SUV
• Commercial Vehicles

Stolen Vehicle Security System Market Regional Analysis/Insights

The stolen vehicle security system market is analysed and market size insights and trends are provided by country, product type, technology, component, sales channel, and vehicle type as referenced above.

The countries covered in the stolen vehicle security system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Asia-Pacific dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are the high sales rate of automobiles, especially in India & China, furthermore, through the presence of essential manufacturers and their active units all over the region. These businesses make significant R&D investments to deliver sophisticated vehicle security technology. The region's vehicle security market is anticipated to expand quickly due to the region's growing population, industrialization, aggressive manufacturing industry expansion, and increased demand for vehicles, particularly in China and India.

Europe will undergo the highest growth rate during the forecast period owing to the growth in the stolen vehicle security system market. Additionally, Italy is anticipated to continue to be a desirable market for startups, increasing the potential of the nation. The growing Italian market for car security systems may also be attributed to the country's expanding vehicle fleet, which is being supported by the adoption of smart automotive electronics. Additionally, it is anticipated that in the coming years, the nation's strong demand for luxury vehicles will propel sales of car security systems.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Stolen Vehicle Security System Market Share Analysis

The stolen vehicle security system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to stolen vehicle security system market.

Some of the major players operating in the stolen vehicle security system market are:

• Continental AG (Germany)
• Bosch Service Solutions GmbH(Germany)
• HELLA GmbH & Co. KGaA (Germany)
• Aptiv (Ireland)
• DENSO CORPORATION (Japan)
• TOKAIRIKA,CO, LTD. (Japan)
• Stoneridge, Inc.(U.S.)
• Mitsubishi Electric Corporation (Japan)
• Huf Hülsbeck & Fürst GmbH & Co. KG, (Germany)
• VALEO SERVICE (France)
• Marquardt Management SE (Germany)
• VOXX Electronics Corp.(U.S.)
• ALPS ALPINE CO., LTD (Japan)
• Atech Automotive (Wuhu) Co., Ltd (China)
• AUTOCRYPT Co., Ltd (Korea)
• ALPHA MOTOR CORPORATION (U.S.)
• Scorpion Automotive Ltd (U.K.)
• TELTONIKA  (Europe)

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