Vehicle Security Market Research Report Information By Technology (Radio Frequency Identification, Ultrasonic, and Others), By Component (Central Locking System, Remote Keyless Entry System, Ultrasonic Intruder Protection (UIP), Automatic Collision Detection System, Automatic Driver Recognition System (ADRS), Backup Battery Siren (BBS), and Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Sales Channel (OEM and Aftermarket), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Global Vehicle Security Market Overview

The Vehicle Security Market size was valued at USD 6.31 Billion in 2023. The Vehicle Security industry is projected to grow from USD 6.74 Billion in 2024 to USD 10.76 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.01% during the forecast period (2024 - 2032). Increased adoption of premium vehicle security Luxury vehicles and biometric technology are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vehicle Security Market Trends

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  Adoption of Biometric Technology in Vehicle Security is driving the market growth

  
  

Vehicle manufacturing companies initially focused on using phones to improve vehicle convenience. However, this entailed exposing the keys to the Internet, creating new risks for driver safety and cybersecurity. Hence, automotive manufacturers are developing alternative technologies that facilitate vehicle use without connecting to the Internet.

A biometric system, a potential substitute for a cell phone security system, identifies a human by their unique characteristics. Various biometric patterns include fingerprint, retina, palm, face, voice, and iris. There are mainly three types of biometric modules within the vehicle security systems market fingerprint recognition technique, embedded main board with various components, and human-machine communication module. Fingerprint biometrics is used for personal detection in terms of security and reliability. Mainly, live fingerprint readers based on an ultrasound approach are used. The two commonly used fingerprint-matching techniques used are minutiae-based matching and pattern matching. Minutiae matching generally relies on minutiae matching, i.e., the location and direction of each point. On the other hand, pattern-matching techniques involve the similarity and comparison between two images. This factor increases the market CAGR in the forecast period.

Additionally, the rising incident of vehicle theft and unauthorized vehicle users have been making sophisticated means of stealing vehicles, such as switching vehicle identification numbers, acquiring smart keys, and using stolen identities to secure loans for expensive vehicles. There has been an increasing demand for vehicle security market systems to restrict the rising number of vehicle thefts. A vehicle security system comprises multiple subsystems, such as ultrasonic intruder protection (UIP) system, a central locking system, a backup battery siren (BBS), an automatic collision detection system, an automatic driver recognition system (ADRS), and a remote keyless entry system. It offers intelligent, reliable, and effective vehicle security. Thus, the rise in incidents of vehicle theft is expected to drive the growth of the Vehicle Security market revenue.

Vehicle Security MarketSegment Insights

Vehicle Security Type Insights

Based on technology, the Vehicle Security Market segmentation includes radio frequency identification, ultrasonic, and others. The radio frequency segment dominates the market. Because Radio frequency identification is a wireless non-contact use of radiofrequency waves to transfer data. The use of radio frequency identification systems for vehicle security is becoming popular due to their cost-effectiveness. The other segment includes break-in sensors, motion & tilt sensors, and window controller systems. Break-in sensors are designed to trigger an alarm when the glass is broken.

Vehicle Security Component Insights

The Vehicle Security Market segmentation, based on components, includes central locking systems, remote keyless entry systems, ultrasonic intruder protection (UIP), automatic collision detection systems, automatic driver recognition systems (ADRS), backup battery siren (BBS), Others. The central locking system segment dominates the market. Central locking system refers to the locking system in the vehicle, which grants access only to authorized persons to lock and unlock the vehicle doors. This type of locking system is the one that locks and unlocks all doors of the vehicle with only one door, usually the driver's door. The growing concerns regarding automobile and passenger safety have led to the integration of automatic collision detection systems in vehicles. It comprises sensors and several other components that monitor the vehicle's speed, the speed of the vehicle in front of it, and the gap between them.

Vehicle Security Vehicle Type Insights

The Vehicle Security Market segmentation, based on vehicle type, includes passenger cars, commercial vehicles. The passenger car segment dominates the market. Passenger cars can carry up to nine persons, including the driver. Whereas, Commercial vehicles are the fastest-growing segment in the forecast period because the increasing demand for commercial vehicles in the processing, manufacturing, and logistics sectors and the continuous growth in the tourism and hospitality sectors propels commercial vehicles' demand.

Figure 1: Vehicle Security Market, by Vehicle Type, 2024 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vehicle Security Sales Channel Insights

Based on Sales Channel, the Vehicle Security Market segmentation includes OEM and aftermarket. The OEM segment dominates the market. OEMs are engaged in producing parts and equipment that other manufacturers are marketing. The major automotive component manufacturers are investing in research & development to offer vehicle security systems and modules and upgrade new technologies. Whereas, Aftermarket is the fastest growing segment in the forecast period because Aftermarket vehicle security market parts are more cost-effective than OEM parts, which increases the preference for aftermarket vehicle security parts and components.

February 2020: Alps Alpine developed a new model of its SKSU Series compact TACT Switch for automotive applications.

January 2020: DENSO announced a partnership with Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, to develop next- generation cockpit systems.

Vehicle Security Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American vehicle security market will dominate due to the increased adoption of premium vehicle security Luxury vehicles. The adoption of biometric technology will boost the market growth in this Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Vehicle Security Market Share By Region 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Vehicle Security market accounts for the second-largest market share due to the Region being a major hub for automobile manufacturers, who offer passenger and commercial vehicles, embedded with vehicle security systems. Further, the German Vehicle Security market held the largest market share, and the UK Vehicle Security market was the fastest-growing market in the European Region.

The Asia-Pacific Vehicle Security Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to an increasing population, industrialization, and rapid growth of the manufacturing industry. Moreover, China’s Vehicle Security market held the largest market share, and the Indian Vehicle Security market was the fastest-growing market in the Asia-Pacific region.

Vehicle Security Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the vehicle security market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The vehicle security industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Vehicle Security industry to benefit clients and increase the market sector. The Vehicle Security industry has offered some of the most significant automotive advantages in recent years. Major players in the Vehicle Security market, including Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), Valeo (France), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Lear Corporation (US), Tokairika, Co, Ltd (Japan), Omron Corporation (Japan), and Alps Alpine Co., Ltd (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

DENSO Corporation is a global automotive components manufacturer headquartered in Kariya, Aichi Prefecture, Japan. After becoming independent from Toyota Motor, the company was founded as Nippon Denso Co. Ltd. in 1949. About 25% of the company is owned by Toyota.DENSO partnered with Aeva, the US-based LiDAR and perception Systems Company, to develop next-generation vehicle sensing and perception systems.

Continental AG, commonly known as Continental or colloquially as Conti, is a German multinational automotive parts manufacturing company specializing in tires, brake systems, and interior electronics. Continental developed a sensor-based digital load monitoring system for commercial vehicles.

Key Companies in the vehicle security market include

• Denso Corporation (Japan)


• Robert Bosch GmbH (Germany)


• HELLA GmbH & Co. KGaA (Germany)


• Valeo (France)


• Mitsubishi Electric Corporation (Japan)


• Continental AG (Germany)


• Lear Corporation (US)


• Tokairika, Co, Ltd (Japan)


• Omron Corporation (Japan)


• Alps Alpine Co., Ltd (Japan)

Vehicle security Industry Developments

January 2021: DENSO partnered with Aeva, the US-based LiDAR and perception Systems Company, to develop next-generation vehicle sensing and perception systems.

September 2020: Continental developed a sensor-based digital load monitoring system for commercial vehicles.

Vehicle Security Market Segmentation

Car Security Market Technology Outlook

• Radio Frequency Identification


• Ultrasonic


• Others

Car Security Market Component Outlook

• Central Locking System


• by Remote Keyless Entry System


• Ultrasonic Intruder Protection (UIP)


• Automatic Collision Detection System


• Automatic Driver Recognition System (ADRS)


• Backup Battery Siren (BBS)


• and Others

Car Security Market Vehicle Type Outlook

• Passenger Car


• Commercial Vehicle

Car Security Market Sales Channel Outlook

• OEM


• Aftermarket

Car Security Market Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Attribute/Metric	Details
Market Size 2023	USD 6.31 Billion
Market Size 2024	USD 6.74 Billion
Market Size 2032	USD 10.76 Billion
Compound Annual Growth Rate (CAGR)	6.01% (2024-2032)
Base Year	2023
Market Forecast Period	2024-2032
Historical Data	2019- 2022
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Technology, Component,Vehicle Type, and Region
Geographies Covered	North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered	The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), Valeo (France), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Lear Corporation (US), Tokairika, Co, Ltd (Japan), Omron Corporation (Japan), and Alps Alpine Co., Ltd (Japan)
Key Market Opportunities	·       Advanced safety features
Key Market Dynamics	·       Increasing adoption of premium vehicle security Luxury vehicles