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Q4 2024: OnStar enhances Remote Ignition Block system with voice AI support for real-time shutdown authorization OnStar, a subsidiary of General Motors, announced an upgrade to its Remote Ignition Block system, integrating voice AI to enable real-time vehicle shutdown authorization, specifically targeting the U.S. and Mexico car markets.
Remote Vehicle Shutdown Market Dynamics:
Drivers:
The rising robbery cases in the commercial vehicle is the major factor driving the market. Due to the robberies, the transportation sector experiences massive losses which leads to the rise in demand for automatic systems that secure the vehicle. Moreover, the growing number of passenger car theft cases is boosting the market growth in the review period. This system is used by businesses, individuals, and law enforcement agencies, for preventing the misuse of vehicles by rogue elements. Apart, parents are also using this system to detect their underage children from using vehicles.
The increase in vehicle and cargo thefts requires automated systems that help in protecting the vehicle or cargo from hijacking or robbing. These systems are equipped with complex electronics and alarm systems. Transportation is at a vulnerable stage due to thefts. A remote immobilization system prevents vehicle thefts and helps in retrieving valuable things like goods and cargo from the lost vehicles. Hence this factor accelerates the market growth. It provides complete vehicle security like GPS tracking and anti-theft security alarm.
Restraint:
Owing to the engine’s lockdown, privacy issues, and risk of vehicle damage are anticipated to hamper the growth of the market.
Opportunities:
Automotive manufacturers are investing a huge amount in the development of advanced technologies for the protection of vehicles. Multinational corporations like General Motors and Scania AB are participating in the development of such technologies. These are the opportunities to boost the growth of the market.
Challenges:
When this system is used by businesses or law enforcement agencies, it may endanger the life of drivers. As the vehicles stopped in the middle of the road endangers the driver’s life by the use of remote immobilizer leads to accidents and traffic congestions. This is the major challenge of market growth.
Remote Vehicle Shutdown Market Study Objectives -
- To provide detailed information about the market structure along with various forecast segments and sub-segments for the next 10 years.
- To provide the factors that are affecting the growth of the market value.
- To analyze the market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.
- To provide history and forecast revenue segments and sub-segments of the market revenue for the main geographies.
- To provide the country-level analysis of the current market size and future prospective.
- To provide country-level analysis of the market industry growth by region, form, and application.
- To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global market growth landscape.
- To track and analyze new product developments, strategic alliances, and global market research.
Remote Vehicle Shutdown Market Segment Overview:
The global remote vehicle shutdown market has been divided into segments based on system, vehicle type, and region.
Based on System
The global remote vehicle shutdown market based on the system is classified into two types as manual and automatic. Out of these two, the automatic segment is dominating the largest market share for the growing integration of IoT, artificial intelligence, and other automated systems in vehicles.
Based on Vehicle Type
The global remote vehicle shutdown market by vehicle type is bifurcated into two types as passenger and commercial. Due to the globally rising car theft cases, the passenger vehicle segment is accounting for the largest market share. In 2016, according to the FBI, nationwide nearly 765,484 motor vehicle robberies were done. In the years 2015 and 2016, the crime rate is registered as up 3.2% and 6.6% respectively. According to the National Insurance Crime Bureau, one car was theft every 6.5 minutes and 156 cars per day.
Apart, the commercial segment is expected to grow at a significant rate during the forecast period due to the growing robbery cases in logistics and transportation industry vehicles. The increase in the e-commerce sector is the major driver for the logistics industry that requires additional security and prevention from theft that propels the growth of the market in this segment shortly.
Based on Region
Regionally, the global remote vehicle shutdown market is divided into four main geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. Among them, North America is dominating the largest market share due to the rising concerns about vehicles security.
Remote Vehicle Shutdown Market Regional Analysis -
Geographically, the remote vehicle shutdown market is segmented into four main regions like North America, Europe, Asia-Pacific, and the Rest of the World. Out of these regions, North America is the leading region in the market due to the growing concerns about vehicles security. In the US, the emerging country California has the highest motor vehicle theft rate which leads to the increase in demand for the market. Asia-Pacific is anticipated to be the fastest-growing region for the rising vehicle theft cases in this region.
