Vehicles Security System Market Size, Share, Growth Report 2030

According to the report published by Zion Market Research, Global demand for Vehicles Security System market was valued at approximately USD 9,200.4 Million in 2019, and is expected to generate revenue of around USD 15,916.2 Million by end of 2026, growing at a CAGR of around 7.2% between 2020 and 2026.

Vehicles Security System Market: Overview

The vehicle security systems include alarms, remote keyless entry, immobilizers, central locking and passive entry systems. These features are used to protect the vehicles from the theft and hijacking. The tracking of the stolen vehicles has become easy owing to the recent technologies such as RTLS, RFID, and GPS. These features increase the convenience and the safety of the passengers of the vehicles. The smartwatches and the smartphones can be incorporated in the vehicle system owing to the recent developments in the passive entry systems. The other benefits include checking of the amount of fuel in the vehicle, distance to be covered, locking functions and the maps of areas.

Vehicles Security System Market: Growth Factors

There has been a huge amount of technological advancements in the vehicle security system, which is providing beneficial opportunities for the global market growth. In the recent years, there has been a great increase in the production of the automotive and accordingly, they are being purchased; hence, it has become necessary to secure the vehicles from the thefts thus boosting the global market growth. The face positioning and the face detection technology has a great demand in the market. The demand for the hybrid vehicles is growing thus affecting the production of the vehicles. The restraining factor for the global market growth is the high cost of the security features. The utilities do offer many security features for the safety of the vehicles but developing them is a costly affair, for example, the development of the feature of passive entry system is costly. For the development of these features, a customized approach is required for each of the vehicle models and its installation is also very complex. These factors negatively hamper the global vehicles security system market growth.

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Vehicles Security System Market: Segmentation

The global vehicles security system market is segmented according to its product type, vehicle type, technology and by regions. Based on the product type, the global market is segmented into immobilizer, passive keyless entry, alarm, remote keyless entry and the central locking system. On the basis of the vehicle type, the global vehicles security system market is divided into the off-highway vehicle, passenger car, and commercial vehicle. According to the technology, the global market is categorized into the global system for mobile communication, a real-time location system, global positioning system and real-time location system. The regions where the global vehicles security system market is diversified are Asia-Pacific, Europe, North America and Rest of the World.

Vehicles Security System Market: Regional Analysis

The region that dominates the global vehicles security system market is the Asia-Pacific region. The regions that follow the Asia Pacific region are North America and Europe. China in the Asia Pacific region is driving the global market growth. There has been an increasing awareness about the vehicle safety among the people thus increasing the installation of these safety gadgets in the vehicles, which contributes to the global vehicles security system market growth. The growing market of the automotive is one of the reasons for the growth of the global vehicles security system market in the Asia Pacific region. The second largest market is the North American region followed by the European region. The increasing number of customer base with high disposable income has also contributed to the global market growth.

Vehicles Security System Market: Competitive Players

Some main participants of the Vehicles Security System market are Robert Bosch GmbH, Lear Corporation, Delphi Automotive, Continental AG, Valeo SA and the Mitsubishi Electric.

Vehicles Security System Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa