The global vehicle security systems market is estimated to grow at a CAGR of 6.9% during the forecast period. The major factor contributing to the growth of the market include increasing incidences of vehicle theft. Significant incidences of vehicle theft have been reported across the globe. For instance, as per the Federal Bureau of Investigation, in the US, an estimated 773,139 motor vehicle thefts reported in 2017. The estimated rate of motor vehicle thefts was 237.4 per 100,000 inhabitants. In 2017, the cost of stolen vehicles was valued at nearly $6 billion and automobiles comprised of 75.4% of those vehicles.
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This leads to the adoption of anti-theft security systems to prevent such concerns to a greater extent. The system gives an alarm when someone tries to break into the vehicle. The primarily adopted security systems include immobilizers, keyless entry systems, and alarm systems. Currently, a large number of vehicles have a remote keyless entry system that alerts the vehicle against the lock, unlock, and theft. Such systems use a frequency of 433.92 MegaHz in Europe, and 315 MegaHz in the US and Japan. Several companies are establishing a partnership for the development of most effective vehicle security systems.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Vehicle Security Systems Market Segmentation
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Product Type
- Alarm
- Immobilizer
- Central Locking System
- Keyless Entry
Global Vehicle Security Systems Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East and Africa
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global vehicle security systems market. Based on the availability of data, information related to products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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