Portland, OR, Feb. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global vehicle anti-theft system market was valued at $14,256.7 million in 2021 and is projected to reach $27,423.3 million by 2031, registering a CAGR of 7.0% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth a and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $14.2 billion |
| Market Size in 2031 | $27.4 billion |
| CAGR | 7.0% |
| No. of Pages in Report | 255 |
| Segments Covered | product type, technology, sales channel, vehicle type, and region |
| Drivers | Adoption of smart technology for vehicle safety and improved convenience Product development to cater to changing demand pattern Rise number of vehicle thefts and vandalism incidents |
| Opportunities | Agreements and contracts with automotive OEMs for long-term business opportunities Growth in developing nations Increase in demand for luxury vehicles |
| Restraints | High cost of the anti-theft systems Decrease in production and sale of automotive Breach of personal information Unavailability of raw materials |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global vehicle anti-theft system market, owing to the implementation of global lockdown which resulted to hamper the end-use industry.
- Changes in the production and sales activities of the automotive industry are expected to influence the overall demand in the near future which, in turn, hampered the growth of the overall market.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced a shortage of labor and unavailability of raw materials.
- The vehicle anti-theft system market has a high scope of growth opportunities in the future due to factors such as high demand for vehicles equipped with safety features, and many auto companies also altered their car-making approach embracing industry 4.0 for efficiency and better manufacturing resilience.
The research provides detailed segmentation of the global vehicle anti-theft system market based on product type, technology, sales channel, vehicle type, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the alarm segment held the highest share in 2021, contributing to more than 31% of the global vehicle anti-theft system market, and is expected to continue its leadership status during the forecast period. However, the biometric capture device segment is expected to register the highest CAGR of 9.0% from 2022 to 2031.
Based on technology, the remote frequency identification device segment accounted for the highest share in 2021, contributing to more than 37% of the global vehicle anti-theft system market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the global positioning system segment is expected to manifest the highest CAGR of 8.1% from 2022 to 2031.
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Based on sales channel, the OEM segment accounted for the highest share in 2021, contributing to more than 78% of the global vehicle anti-theft system market, and is expected to continue its leadership status during the forecast period. However, the aftermarket segment is estimated to grow at the highest CAGR of 7.3% during the forecast period.
Based on vehicle type, the passenger cars segment accounted for the highest share in 2021, contributing to more than 70% of the global vehicle anti-theft system market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the global commercial vehicles segment is expected to manifest the highest CAGR of 7.6% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than 30% of the global vehicle anti-theft system market, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 8.0% during the forecast period.
Leading market players of the global vehicle anti-theft system market analyzed in the research include Continental AG, Robert Bosch GmbH, HELLA GmbH & Co. KGaA, Tokai Rika Co. Ltd., Valeo S.A., Denso Corporation, Stoneridge Inc., Aptiv plc., Huf Hulsbeck & Furst GmbH & Co. KG, Marquardt Group.
The report provides a detailed analysis of these key players in the global vehicle anti-theft system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
