The Vehicle Security System Market is anticipated to reach US$ 15.28 Bn by 2029 from US$ 10.16 Bn in 2022 at a CAGR of 6 % during a forecast period. Alarms, central locking, remote keyless entry, passive entry systems, and immobilisers are all meant to keep automobiles safe from being hijacked or stolen. RFID, GPS, and RTLS are some of the more recent technologies that have been used to track down stolen vehicles. Asia Pacific has been generating promising prospects for the market, followed by North America and Europe. The worldwide vehicle security system market has been driven by rising awareness about vehicle safety and the increased installation of cutting-edge safety devices in automobiles.To know about the Research Methodology :- Request Free Sample Report
Vehicle Security System Market Dynamics
Rising awareness of automobile safety and theft prevention among car owners is a primary growth driver for the worldwide Vehicle Security System market, which is likely to consolidate in the near future. Additionally, technical advancements in automobile security systems such as shock sensor installation, Avital 5103, and Eclipse 360 degree vehicle surveillance security systems are projected to boost the market in the near future. Population expansion and rising consumer spending power are two main reasons that are expected to drive automobile sales all across the world. The major Vehicle Security System Market is being driven by the installation of car security systems in practically every automobile to keep it secure from criminals. The increased need for face detection and face positioning systems, on the other hand, is likely to boost the worldwide auto security system market forward. Besides that, in several countries such as Brazil and Indonesia, the government and insurance companies are encouraging automobile security systems and compelling automakers to include them as standard equipment in new cars.Vehicle Security System Market Segmentation Analysis
By Product Type, over the forecast period of 2023 to 2029, sales in the other segment, which comprises smart car control, biometric car access, and electronic steering lock, are expected to increase at a stunning CAGR of more than 15%. The segment's growth will be fuelled by the rising use of modern automotive electronics, digitalization, and IoT and AI (artificial intelligence) integration. In 2022, the other segment is expected to account for more than a tenth of the market. By the conclusion of the forecast period, this category will have roughly a fifth of the market share. By Sales Channel, by 2029, the aftermarket segment is expected to account for more than 70.0 percent of total market sales. The increased number of older vehicles on the road, as well as digitization and desire for luxury automobiles, are likely to drive up demand for aftersales services. Car security systems are electrical equipment with an average lifespan of 4 to 5 years. After this lifespan, Vehicle Security systems must be replaced. As a result, sales of auto security systems through the aftersales channel will account for the largest proportion of the worldwide market.Regional Insight
China, Japan, and India account for the bulk of the growth in the Asia Pacific Vehicle Security market, owing to the presence of key manufacturers and their operational units throughout the region. In order to deliver sophisticated vehicle security technology, these firms invest much in research and development. Additionally, due to expanding population, industrialization, and aggressive expansion in the manufacturing industry, as well as increased demand for vehicles, particularly in China and India, the market for vehicle security in the area is expected to grow fast. In the forecast period 2023-29, the United States is expected to account for about three-quarters of the North American market share, generating a monetary potential of more than US$ 2.6 billion. Because the United States has the world's greatest economy, it has a larger presence of top automobile security system manufacturers. The United States is one of the leading buyers of commercial cars, with sales of light commercial vehicles growing at a rapid pace. The United States automobile market is benefiting greatly from the country's favorable car taxation regime. This might boost the market for automobile security systems in the United States. This country's need for sports cars, luxury automobiles, and commercial vehicles is likely to drive up prices. Italy is expected to provide an absolute dollar opportunity in the European auto security system market worth US$ 901.8 million. This country's manufacturers are introducing a variety of novel items to the market. Italy is expected to remain an attractive market for start-ups, bolstering the country's potential. The rising vehicle fleet, aided by smart automotive electronics adoption, may also be contributed to the growth of the car security system market in Italy. Aside from that, the country's strong demand for premium automobiles is expected to drive sales of car security systems in the future years.Report Objectives:
Landscape analysis of the Vehicle Security System Market competitive benchmarking Past and current status of the industry with the forecasted market size and trends Evaluation of potential key players that include market leaders, followers, and new entrants Technology trends The potential impact of micro-economic factors on the market External and Internal factors affecting the market have been analyzed The report also helps in understanding the Vehicle Security System Market dynamics, structure by analyzing the market segments project the Vehicle Security System Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Vehicle Security System Market make the report investor’s guide.Vehicle Security System Market Scope: Inquire before buying
Global Vehicle Security System Market Base Year 2022 Forecast Period 2023-2029 Historical Data CAGR Market Size in 2022 Market Size in 2029 2018 to 2022 6% US$ 10.16 Bn US$ 15.28 Bn Segments Covered by Product Central Locking System Car Alarm Immobilizer Remote Keyless Entry Others by Vehicle Type Passenger Vehicles Commercial Vehicles by Sales Channel OEM Aftermarket Regions Covered North America United States Canada Mexico Europe UK France Germany Italy Spain Sweden Austria Rest of Europe Asia Pacific China S Korea Japan India Australia Indonesia Malaysia Vietnam Taiwan Bangladesh Pakistan Rest of APAC Middle East and Africa South Africa GCC Egypt Nigeria Rest of ME&A South America Brazil Argentina Rest of South America Key Players are:
1. Continental AG 2. Robert Bosch GmbH 3. HELLA GmbH & Co. KGaA 4. Aptiv plc 5. Denso Corporation 6. Tokai Rika Co., Ltd. 7. ALPHA Corporation 8. Stoneridge Inc. 9. Mitsubishi Electric Corporation 10. Huf Hülsbeck & Fürst GmbH & Co. KG 11. Valeo S.A. 12. Marquardt GmbH 13. I Car Srl 14. Directed Inc. 15. ALPS ALPINE CO. LTD 16. Atech Automotive (Wuhu) Co., Ltd Frequently Asked Questions 1. What is the projected market size & growth rate of the Vehicle Security System Market? Ans- Vehicle Security System Market was valued at USD 10.16 billion in 2022 and is projected to reach USD 15.28 billion by 2029, growing at a CAGR of 6 % during the forecast period. 2. What is the key driving factor for the growth of the Vehicle Security System Market? Ans- Rising awareness of automobile safety and theft prevention among car owners is a primary growth driver for the worldwide Vehicle Security System market 3. Which Region accounted for the largest Vehicle Security System Market share? Ans- In the forecast period 2023-29, the United States is expected to account for about three-quarters of the North American market share, generating a monetary potential of more than US$ 2.6 billion. 4. What makes the Asia Pacific a Lucrative Market for Vehicle Security System Market? Ans- China, Japan, and India account for the bulk of the growth in the Asia Pacific Vehicle Security market, owing to the presence of key manufacturers and their operational units throughout the region. 5. What are the top players operating in Vehicle Security System Market? Ans- Continental AG, Robert Bosch GmbH, HELLA GmbH & Co. KGaA, Aptiv plc, Denso Corporation, Tokai Rika Co., Ltd., and ALPHA Corporation.
1. Global Vehicle Security System Market: Research Methodology 2. Global Vehicle Security System Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Vehicle Security System Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Vehicle Security System Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 4.6 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Vehicle Security System Market Segmentation 4.1 Global Vehicle Security System Market, By Product Type (2022-2029) • Central Locking System • Car Alarm • Immobilizer • Remote Keyless Entry • Others 4.2 Global Vehicle Security System Market, By Vehicle Type (2022-2029) • Passenger Vehicles • Commercial Vehicles 4.3. Global Vehicle Security System Market, By Sales Channel (2022-2029) • OEM • Aftermarket 5. North America Vehicle Security System Market (2022-2029) 5.1 North American Vehicle Security System Market, By Product Type (2022-2029) • Central Locking System • Car Alarm • Immobilizer • Remote Keyless Entry • Others 5.2 North America Vehicle Security System Market, By Vehicle Type (2022-2029) • Passenger Vehicles • Commercial Vehicles 5.3. North America Vehicle Security System Market, By Sales Channel (2022-2029) • OEM • Aftermarket 5.4. North America Vehicle Security System Market, by Country (2022-2029) • United States • Canada • Mexico 6. Asia Pacific Vehicle Security System Market (2022-2029) 6.1. Asia Pacific Vehicle Security System Market, By Product Type (2022-2029) 6.2. Asia Pacific Vehicle Security System Market, By Vehicle Type (2022-2029) 6.3. Asia Pacific Vehicle Security System Market, By Sales Channel (2022-2029) 6.4. Asia Pacific Vehicle Security System Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. The Middle East and Africa Vehicle Security System Market (2022-2029) 7.1. Middle East and Africa Vehicle Security System Market, By Product Type (2022-2029) 7.2. Middle East and Africa Vehicle Security System Market, By Vehicle Type (2022-2029) 7.3. Middle East and Africa Vehicle Security System Market, By Sales Channel (2022-2029) 7.4. Middle East and Africa Vehicle Security System Market, By Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Vehicle Security System Market (2022-2029) 8.1. Latin America Vehicle Security System Market, By Product Type (2022-2029) 8.2. Latin America Vehicle Security System Market, By Vehicle Type (2022-2029) 8.3. Latin America Vehicle Security System Market, By Sales Channel (2022-2029) 8.4. Latin America Vehicle Security System Market, By Country (2022-2029) • Brazil • Argentina • Rest Of Latin America 9. European Vehicle Security System Market (2022-2029) 9.1. European Vehicle Security System Market, By Product Type (2022-2029) 9.2. European Vehicle Security System Market, By Vehicle Type (2022-2029) 10.7. European Vehicle Security System Market, By Sales Channel (2022-2029) 9.4. European Vehicle Security System Market, By Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Continental AG 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Continental AG 10.3. Robert Bosch GmbH 10.4. HELLA GmbH & Co. KGaA 10.5. Aptiv plc 10.6. Denso Corporation 10.7. Tokai Rika Co., Ltd. 10.8. ALPHA Corporation 10.9. Stoneridge Inc. 10.10. Mitsubishi Electric Corporation 10.11. Huf Hülsbeck & Fürst GmbH & Co. KG 10.12. Valeo S.A. 10.13. Marquardt GmbH 10.14. I Car Srl 10.15. Directed Inc. 10.16. ALPS ALPINE CO. LTD 10.17. Atech Automotive (Wuhu) Co., Ltd