07-May-2019 | Zion Market Research
Zion Market Research has published a new report titled “Vehicle Security System Market by Product (Central Locking System, Alarm, Remote Keyless Entry, Immobilizer, and Others), by Technology (Global Positioning System, Real-Time Location System, Face Detection System, and Others), and by Vehicle (Passenger Cars, Off-Highway Vehicles, and Commercial Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global vehicle security system market accounted for USD 8.9 billion in 2018 and is expected to reach USD 14.2 billion by 2025, at a CAGR of around 6.9% between 2019 and 2025.
The vehicle security system market is expected to grow owing to the rising production of commercial vehicles. The total number of commercial vehicles manufactured in 2017 was around 23.8 million units in comparison to 22.8 million units in 2016. The U.S. and China were the prime contributors in terms of production statistics of 2017. Considering the rising investments made in the automotive sector, this number is expected to increase in the upcoming years. Furthermore, technological developments witnessed in the automotive industry are also paving the way for this global market’s growth. Manufacturers are focusing on collaborating with technology providers to automate security processes. With the introduction of autonomous vehicles, market players are focusing on investing in GPS technology to gain competitive advantages. However, high initial investments to manufacture these systems may adversely affect this market’s growth. Alternatively, adoption of artificial intelligence (AI) and the use of biometrics technology in vehicle security systems are expected to open new growth avenues for the market in the future.
Browse the full “Vehicle Security System Market by Product (Central Locking System, Alarm, Remote Keyless Entry, Immobilizer, and Others), by Technology (Global Positioning System, Real-Time Location System, Face Detection System, and Others), and by Vehicle (Passenger Cars, Off-Highway Vehicles, and Commercial Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/vehicle-security-system-market
By product, the global vehicle security system market includes central locking system, remote keyless entry, alarm, immobilizer, and others. Central locking systems are expected to hold a notable share in the global market over the forecasted years, owing to the increasing product demand for vehicles in Latin America. Based on vehicle, the global vehicle security system market includes passenger cars, commercial vehicles, and off-highway vehicles. Passenger cars are anticipated to hold a significant market over the forecast timespan, due to the increasing demand for passenger cars in developing countries of the Asia Pacific region. By technology, the market includes global positioning system (GPS), real-time location system (RTLS), face detection system, and others. Real-time location systems (RTLS) are estimated to grow at a noteworthy rate over the forecast timeframe.
By region, Latin America is expected to grow at a considerable rate in the global vehicle security system market over the estimated time period, owing to rising investments by various automotive manufacturers in Brazil. Europe is estimated to make notable contributions in the upsurge of the vehicle security system market globally, as it is the global automotive hub with the presence of renowned manufacturers like Renault, Volkswagen, BMW, Peugeot, Daimler, and Citroën.
Some noticeable players of the global vehicle security system market are Robert Bosch GmbH, Continental AG, Delphi Automotive, Valeo SA, Mitsubishi Electric Corporation, Denso Corporation, Hella Kgaa Hueck, Lear Corporation, Tokai Rika, and ZF TRW Automotive Holdings Corporation.
This report segments the global vehicle security system market into:
Global Vehicle Security System Market: Product Analysis
Global Vehicle Security System Market: Technology Analysis
Global Vehicle Security System Market: Vehicle Analysis
Global Vehicle Security System Market: Regional Analysis
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