Global Vehicle Security System Market Analysis Report 2023: A $13.35 Billion Industry by 2027 - Long-term Forecasts to 2032

Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "Vehicle Security System Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global vehicle security system market grew from $8.57 billion in 2022 to $9.5 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The vehicle security system market is expected to grow to $13.35 billion in 2027 at a CAGR of 8.9%.

The latest vehicle security system market research report offers a comprehensive insight into the market landscape. Providing essential statistics such as the global industry size, regional distribution, competitor analysis featuring market shares, detailed segmentation of the market, emerging trends, opportunities, and additional pertinent information, this report equips industry players with vital data to excel in the dynamic realm of the vehicle security system sector.

Diverse technologies, encompassing the global positioning system, global system for mobile communication, face detection system, real-time location system, and others, find application across various vehicle types, including passenger cars and commercial vehicles, among others.

Technological advancements have emerged as a key trend gaining popularity in the vehicle security system market. Major companies operating in the vehicle security system sector are focused on developing new technological solutions to reinforce their position. For instance, in January 2022, Ford, a US-based automobile manufacturer, and ADT Security Services, a US-based security company announced a $100 million standalone joint venture called Canopy to help prevent theft from vehicles using sensors and AI.

The increasing cyberattacks are expected to propel the growth of the vehicle security system market going forward.As automotive innovation grows, cybersecurity evolves as a real concern. Automotive vehicle security system secures electronic systems, communication networks, software, and data collected by the new wave of intelligent cars from harm. If a vehicle's computer systems aren't protected properly, hackers can steal data or even take control of the vehicle.

For instance, according to Automotive Cybersecurity Report 2021 published by Upstream, an Israel-based automotive cybersecurity company, the frequency of cyberattacks on cars increased 225% from 2018 to 2021 and 85% of the attacks in 2021 were carried out remotely. Therefore, the increasing cyberattacks drive the growth of the vehicle security systems market.

According to the companies, by 2023, Canopy will initially provide an after-market security product for customers to install a camera in a cargo vehicle or pickup that faces back and relies on AI to identify and report credible threats and trigger an alarm when signs and sounds of metal cutting or breaking glass or suspicious sounds or motion near a vehicle are detected. The joint venture's and technology's principal goal is to prevent vehicle theft before it happens.

Asia-Pacific was the largest region in the vehicle security system market in 2022. The regions covered in the vehicle security system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the vehicle security system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Key Attributes:

Major players in the vehicle security system market are

• Continental AG
• Delphi Automotive
• Denso Corporation
• Hella Kgaa Hueck & Co.
• Lear Corporation
• Mitsubishi Electric Corporation
• Robert Bosch GmbH
• Tokai Rika Co. Ltd.
• Valeo SA
• TRW Automotive
• ZF Friedrichshafen AG
• Aptiv PLC
• Omron Corporation
• Clifford
• Viper Security Systems

Key Topics Covered:

1. Executive Summary

2. Vehicle Security System Market Characteristics

3. Vehicle Security System Market Trends And Strategies

4. Vehicle Security System Market - Macro Economic Scenario
4.1. COVID-19 Impact On Vehicle Security System Market
4.2. Ukraine-Russia War Impact On Vehicle Security System Market
4.3. Impact Of High Inflation On Vehicle Security System Market

5. Vehicle Security System Market Size And Growth
5.1. Global Vehicle Security System Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Vehicle Security System Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Vehicle Security System Market Segmentation
6.1. Global Vehicle Security System Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Immobilizers
• Alarm System
• Tracking System
• Central Locking System
• Remote Keyless Entry
• Other Product Types

6.2. Global Vehicle Security System Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Global Positioning System
• Global System for Mobile Communication
• Face Detection System
• Real-Time Location System
• Other Technologies

6.3. Global Vehicle Security System Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Passenger Car
• Commercial Vehicles
• Other Vehicle Types

7. Vehicle Security System Market Regional And Country Analysis
7.1. Global Vehicle Security System Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Vehicle Security System Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/uywzcz

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• Global Vehicle Security System Market