Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Global Vehicle Anti-Theft System Market Size, Share & Industry Trends Analysis Report by Technology, Vehicle Type, Sales Channel, Product, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Vehicle Anti-Theft System Market size is expected to reach $20.4 billion by 2028, rising at a market growth of 6.7% CAGR during the forecast period.
Key Market Players
List of Companies Profiled in the Report:
- Continental AG
- Robert Bosch GmbH
- HELLA GmbH & Co. KGaA
- Valeo SA
- Denso Corporation
- Aptiv PLC
- Tokai Rika Co., Ltd.
- Stoneridge, Inc.
- Huf Hulsbeck & Furst GmbH & Co. KG (Huf Holding Gmbh & Co. KG)
- Marquardt Group
Automobile owners respect their possessions. Nonetheless, automobile theft is prevalent in the majority of countries worldwide. Manufacturers employ several techniques to prevent theft. An anti-theft device is a sort of device that aids in preventing vehicle theft through automatic or manual means. Several technologies can be utilized to attain objectives. There are numerous anti-theft devices on the market, including alarm systems and GPS tracking.
These technologies reduce the likelihood of auto theft by bolstering the security system. Vehicle anti-theft system market prospects are subsequently created by technological advances in anti-theft systems, such as real-time vehicle tracking systems and Ultra-Wideband (UWB) technology. In addition, many automobiles come equipped with immobilizers that provide protection via the ignition system. Manufacturer immobilizers operate through the vehicle's ECU/ECM (computers).
The need for the vehicle anti-theft system market is strongly driven by automotive production & sales since the vehicle anti-theft system is one of the most important safety components of modern automobiles. In addition, modern automobiles and automotive OEMs increasingly rely on intelligent technology to meet the varying needs of end users, contributing to the expansion of the market. Therefore, the deployment of smart technology for vehicle security and enhanced convenience, as well as product development in response to shifting demand patterns, are projected to boost the vehicle anti-theft system market.
Existing automobiles installed with vehicle anti-theft systems are anticipated to directly impact the demand for anti-theft systems as a whole. In addition, due to an improvement in vehicle safety and security, a boost in the adoption of electric vehicles is also expected to boost the expansion of vehicle anti-theft systems in the upcoming years. Leading technology solution providers prioritize organic growth tactics, such as expansion efforts to obtain a competitive edge and develop high-end technology-enabled products worldwide.
Market Growth Factors
Acceptance of smart technologies for vehicle safety
The adoption of safety and security requirements for auto manufacturing in developing nations like India is anticipated to increase demand for passive keyless entry systems and automotive keyless entry systems. For the market players in these regions, this is anticipated to present a lucrative opportunity during the projection period.
In addition, the adoption of various systems, including immobilizers, alarm systems, and other vehicle anti-theft systems, in contemporary automobiles is anticipated to increase sales in the vehicle anti-theft system market.
Growing demand for biometric technology in vehicles
It is anticipated that the development of multi-modal technologies that iris, scan fingerprint, and facial recognition to prohibit the entry of unauthorized individuals into vehicles would provide additional fuel to the growth of the vehicle anti-theft system market.
In addition, prominent businesses are progressively undertaking various research initiatives to create keyless auto technology to minimize the danger of vehicle theft due to counterfeit keys, which is expected to provide additional impetus to the market's growth over the forecast period.
Market Restraining Factors
Anti-theft systems are expensive
The market for vehicle anti-theft systems is anticipated to be driven by the increased need for operating efficiency, a rise in concern for vehicle safety, high-end technology-enabled vehicle safety, and effective access operation capability.
Moreover, the anti-theft technology can be applied to both passenger and commercial vehicles in order to meet increased safety standards. To regulate the operations, the keyless entry system is integrated with various cutting-edge technologies, including a Bluetooth system, operating software, sensors, and electronic control panels.
Scope of the Study
By Technology
- Remote Frequency Identification Device
- Global Positioning System
- Real-time Location Systems
- Automotive Biometric Technologies
- Others
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Sales Channel
- OEM
- Aftermarket
By Product
- Alarm
- Central Locking System
- Immobilizer
- Steering Lock
- Passive Keyless Entry
- Biometric Capture Device
For more information about this report visit https://www.researchandmarkets.com/r/lk9h1a
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