ID: MRFR/AM/1504-HCR | 130 Pages | Author: Sejal Akre | May 2023
Vehicle Anti-Theft Market is expected to reach a projected market size of US$ 18.89 billion, with a CAGR of 7.12% from 2022 to 2030
According to the reports, the rate at which the global vehicle anti-theft market size is anticipated to expand in the next term is rather impressive, and it is expected to be consistent throughout the review period. A car anti-theft system is a device that prevents illegal vehicle entry. Anti-theft methods have developed from the development. Anti-theft devices increase vehicle security and may decrease car insurance premiums. It also has advanced security features such as stolen vehicle tracking, microprocessors with digital signal processing, ultrasonic sensors, rechargeable batteries, and a closed toolchain for setup and simulation.
The market for vehicle anti-theft is application-driven, with systems increasing popularity among end-users and technologies such as GPS, RTLS, and Automotive Biometric Technology, which are referred to as one of the key driving reasons for the industry. In terms of value, Asia Pacific is expected to have the highest share of the Vehicle Anti-Theft Market. This is mostly due to increased vehicle manufacturing and the installation of safety systems in passenger cars and commercial vehicles. Vehicle anti-theft systems have gone a long way over the years, from basic locks and keys to sophisticated biometric identification systems. The underlying technology and equipment used to prevent illegal entry to cars have changed dramatically. The adoption of car anti-theft systems is influenced by a variety of variables, including simplicity of use, financial expenses, and the theft threshold. While some basic gadgets deactivate the car, others provide advanced security like stolen vehicle tracking, inside intrusion detection, battery-powered sounders, and inclination detecting devices, to name a few.
This report contains all the information on the global Vehicle Anti-Theft Market value and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global Vehicle Anti-Theft Market outlook and forecast to 2027 is also included in the report.
The COVID-19 pandemic outbreak had a detrimental influence on the market for car anti-theft systems in 2020. As a result of the epidemic, places all across the world were put under lockdown. As a result, industrial factories were temporarily shut down, and raw material supply chains were severely disrupted. The market for car anti-theft systems, on the other hand, is anticipated to rebound from 2021 onwards and increase at a modest rate between 2021 and 2025.
To remain competitive in the vehicle anti-theft industry, major corporations are creating sophisticated technology and releasing new goods. Mergers and acquisitions, as well as new product creation, are examples of competitive tactics.
The worldwide vehicle anti-theft market growth is being driven by significant growth in the number of cars of all types, alarming occurrences of vehicle thefts, and growing knowledge about vehicle anti-theft systems. To combat car thefts, particularly in public parking lots, more modern anti-theft systems with superior technology have been used to improve passenger safety and convenience. In the event of a forced entrance, car immobilizers, for example, send a text message to the vehicle owner's registered phone number. The photograph of the person operating the car and the vehicle's position is also included in the notice.
The use of cutting-edge technologies in such innovative products, such as continuous-wave and pulse-echo algorithms, microprocessors with digital signal processing, inclination, and ultrasonic sensors, closed toolchains for configuration and simulation, and rechargeable batteries, has boosted the market significantly. The expanding usage of biometric technology and the rising need for multifactor authentication are important factors driving the growth of the vehicle anti-theft system market in all regions. Government laws governing car safety in many nations are also propelling expansion. The cost of anti-theft systems is one issue impeding their adoption.
Increasing R&D operations to develop car anti-theft system technologies that combine luxury and safety is expected to offer new revenue opportunities for manufacturers operating in the target market. Porsche AG, located in Germany, has included GPS-assisted anti-theft security in its models. Furthermore, the business has released a car monitoring software that can be accessed via a smartphone.
The cost of installing an anti-theft system adds to the overall cost of the car. As a result, it is projected to have a modest acceptance rate in the worldwide vehicle anti-theft market, particularly in developing nations.
The major challenge for the worldwide vehicle anti-theft industry is the rise in cybersecurity risks.
The vehicle anti-theft market in the United States is expected to be worth $2.7 billion by 2020. China, the world's second-biggest economy, is expected to reach a projected market size of US$3.1 billion by 2027, with a CAGR of 8.8 percent from 2020 to 2027. Other notable geographic markets include Japan and Canada, which are expected to expand at 3.1 percent and 5.2 percent, respectively, between 2020 and 2027. Germany is expected to develop at a CAGR of about 3.6 percent in Europe.
The worldwide Steering Lock segment will be led by the United States, Canada, Japan, China, and Europe, with a 4.9 percent CAGR. These regional markets, which had a combined market value of US$518.2 million in 2020, are expected to grow to US$722.7 million by the end of the research period. China will continue to be one of the fastest expanding markets in this cluster of regional markets. Asia-Pacific, led by nations such as Australia, India, and South Korea, is expected to reach US$2 billion by 2027, while Latin America will grow at a 6.4 percent CAGR throughout the research period.
According to the latest research report, the global vehicle anti-theft market divides it into four sections: product, technology, vehicle type, and region. In terms of technology, the market is split into three categories: global positioning system (GPS), real-time location system (RTLS), and global system for mobile communication (GSM). The market is divided into four product categories: steering lock, immobilizer, biometric capture device, and alarm. The immobilizer segment leads among them due to the required installation of immobilizers, which has considerably reduced thefts in many nations. Because of government mandates, the segment is expected to maintain its dominating position in the future.
The market is segmented based on product, technology, vehicle type, and region. The global vehicle anti-theft market trends are expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into steering lock, immobilizer, biometric capture device, and alarm.
Based on the propulsion types, the market is segmented into global positioning systems (GPS), real-time location systems (RTLS), and global systems for mobile communication (GSM).
According to the reports, based on region, the global vehicle anti-theft market is divided into North America, Europe, Asia Pacific, and the rest of the world. In terms of value, the Asia-Pacific region dominates the market. This is due to the region's fast-growing urban population, which has resulted in a year-on-year increase in vehicle sales and booming automobile manufacturing. The Asia Pacific will continue to dominate the industry in the future. In terms of market share, Asia Pacific is followed by North America and then Europe. The presence of original equipment manufacturers (OEMs) in the area, such as Ford Motor Company, General Motors, and Fiat-Chrysler Automotive, is propelling the industry in North America. This, along with a large customer base and strong spending power among end-users, has increased car demand, boosting the vehicle anti-theft market share.
The following report comprises of –
|Market Size||2027: USD 18.89 billion 2030: Significant value|
|CAGR||7.12% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Technology and Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Continental AG, Robert Bosch GmbH, Tokai Rika, Ltd., Lear Corporation, Johnson Electric, Delphi Automotive LLP, ZF-TRW, Mitsubishi Electric Corporation, and VOXX International Corp.|
|Key Market Opportunities||To prevent unauthorized access of vehicle|
|Key Market Drivers||Advanced protection like stolen vehicle tracking, microprocessors|
The rate at which the market expansion is believed to take place in the ensuing period is quite striking and it is expected to be steady throughout the review period.
The market size across the globe is anticipated to increase steadily in the coming years, owing to massive demand from customers along with the mounting purchasing power that has boosted the demand for vehicles.
The top players in the worldwide market for vehicle anti-theft are Mitsubishi Electric Corporation, ZF-TRW, Lear Corporation, Johnson Electric, VOXX International Corp., Tokai Rika, Ltd., Robert Bosch GmbH, Delphi Automotive LLP, Continental AG, and others.
The factors that are inducing market growth in APAC include rising installation of safety features, increasing vehicle production as well as the high concentration of renowned manufacturers like General Motors, Fiat and Ford Motor Company, to name a few.
The top vehicle types mentioned in the report include passenger and commercial vehicles.
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