Vehicle Anti-Theft Market Overview
The Global Vehicle Anti-Theft Market an anti-theft system is used in the vehicles to prevent an unauthorized access to the vehicles. Anti-theft systems have evolved from the invention of lock and key to the introduction of biometric technology. The technology driven automotive industry is based on the biometric and other software-based system in order to prevent the vehicle from theft. vehicle anti-theft system market, Anti-theft devices adds security to vehicles and may also lower vehicle insurance rates. It also provides advanced protection like stolen vehicle tracking, microprocessors with digital signal processing, ultrasonic sensors, rechargeable batteries, and closed tool chain for configuration and simulation. According to a recent study report published by the Market Research Future, The global Vehicle Anti-Theft Market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2022).
There are various trends evolved in the anti-theft vehicle system which are implemented using Global Positioning System (GPS) and Global System for Mobile Communication (GSM). This system are smart enough to locate the vehicle if it has stolen. There are various developments taken place in the anti-theft system which includes operation of ARM 7 microcontroller, GSM and GPS module simultaneously with an accelerometer and temperature sensor, hybrid GPS-GSM localization of vehicles Tracking System, security system based on RFID, GPS and GSM, and among others. All the above models are effective in terms of vehicle security is concerned.
There are various anti-theft devices used in order to keep the car safe which includes steering wheel lock, Tire lock, baby monitoring, kill switch, electronic tracking system, and among others. The different factors that are responsible for the growth of the Vehicle Anti-Theft Market are sophisticated security system, alert message to mobile phone and rising awareness about vehicle anti-theft devices. Other factors such as safety and convenience of end user and also provide advance systems such as car security camera, steering lock are expected to drive the market in future. Additionally, high demand from customers and high purchasing power has upped demand for vehicles and boosted the market for anti-theft vehicle systems. However, the rising production cost makes these features unaffordable for consumers and hamper the market of vehicle anti-theft system.
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According to The National Conference of State Legislatures, more than 93 % of the vehicle theft has been observed in the metropolitan areas where motor vehicle theft remains a pervasive problem. There have been various government initiative taken in order to provide the vehicle safety to the people. There are various Auto theft prevention authorities developed to address the issue of theft. In approximately 11 states, the legislatures have created auto theft prevention authorities to overcome auto theft. The growing development of auto theft prevention authority is expected to increase the demand for anti-theft system in the vehicle in order prevent for stealing.
The major player operating in the Global Vehicle Anti-Theft Market are Continental AG, Robert Bosch GmbH, Tokai Rika, Ltd., Lear Corporation, Johnson Electric, Delphi Automotive LLP, ZF-TRW, Mitsubishi Electric Corporation, and VOXX International Corp.
Vehicle Anti-Theft Market – Segmentation
The global Vehicle Anti-Theft Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Product: Comprises Immobilizer, Steering lock, Central locking, Alarm.
Segmentation by Technology: Comprises GPS, GSM, RTLS, Face Detection System, And Automotive Biometric Technology.
Segmentation by Vehicle Type: Comprises Passenger car, Commercial vehicle
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Vehicle Anti-Theft Market: Regional Analysis
Asia Pacific is expected to dominate the Vehicle Anti-Theft Market in the near future followed by North America. Factors such as increasing installation of safety features and rising vehicle production and the presence of manufacturers such as Ford Motor Company, General Motors, and Fiat in the region are driving the market of vehicle anti-theft. The increase in the production of the vehicle will result in the increase demand for anti-theft system in the vehicle. The emerging countries such as India, China, and among others are the manufacturing hub for the automotive industry which have resulted in the increase production of passenger and commercial vehicles. The increase production of vehicle will result in the growth of anti-theft system in the vehicle. In North America, there has been significant investment made by the OEM manufacturers in order to manufacture vehicles. The increase investment for the development of vehicles will result in the growing use of vehicle anti-theft in the vehicle system. This will result in the growth of the Automotive Vehicle Anti -Theft Market during the forecast period.
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