Global Vehicle Security Systems Market Trends, Applications, Analysis, Growth, and Forecast 2028

The Vehicle Security Systems Market report has been segmented on the basis of product type, technology, vehicle type, sales channel, and region.

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Vehicle Security Systems Market: Overview

“The Vehicle Security Systems Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

A vehicle security system is an essential tool that prevents vehicle theft and avoids the usage of vehicles by some unauthorized or unwanted person.

Advanced car security systems such as Eclipse 360-degree vehicle surveillance security system and Avital 5103 are making the vehicle safer, secure, and comfortable.

Such car security systems are easily installed in almost all types of vehicles such as heavy vehicles, light vehicles, and passenger vehicles.

Vehicle Security Systems Market: Dynamics

Increasing instances of vehicle thefts, and shifting preference toward sophisticated and reliable vehicle security systems are some major growth drivers for the global car security systems market.

In addition, growing consumer awareness regarding sophisticated or advanced vehicle security features, and vehicle security regulations are the other factors driving the growth of the global market.

Moreover, insurance policies and government regulations for safety and security are forcing automakers to install car security systems as standard features in new cars.

The increasing demand for engine start security, alarm security, and keyless access systems, and the growing use of smart mobile applications in vehicle security systems are creating lucrative opportunities for the players operating in the target market.

Whereas, the high initial cost for installation may hamper the growth of the target market.

A recent trend observed in the target market is automakers offerings different car security systems such as immobilizers, glass break sensors, shock sensors, inclination sensors, stolen vehicle trackers, central locking systems, alarm systems, and others.

Recent technological advancements such as Global Positioning System (GPS), Radio Frequency Identification System (RFID), and real-time locating system (RTLS) are helping to track down stolen cars.

Vehicle Security Systems Market: Segment Analysis

Among the product type segments, the immobilizers hold a significant share in the market over the forecast period.

Among the technology segments, the GPS segment is the most lucrative segment during the forecast.

Among the vehicle type segments, the passenger vehicle is accounting a significant revenue share in the global market.

Among the sales channel segments, the OEM segment is leading the global vehicle security systems market.

Vehicle Security Systems Market: Regional Analysis

With the increasing car security consumption and rising awareness among car owners in the Asia Pacific, expected to dominate the global market over the forecast period.

In addition, the rise in the number of criminal and theft activities associated with automotive urged demand for vehicle security systems in the Asia Pacific.

Furthermore, the introduction of biometrics security and passive entry system is encouraging North American automotive manufacturers.

High demand for security systems in vehicles coupled with increasing disposable income, giving a new way for the growth of the target market.

The market in Middle East & Africa accounts for moderate revenue share in the target market and is expected to witness considerable growth in the coming period.

Vehicle Security Systems Market Segmentation:

Segmentation on the basis of Product Type:

• Alarm System
• Immobilizers
• Central Locking System
• Others (Keyless Entry and Passive Entry)

Segmentation on the basis of Technology:

• GPS
• Mobile Communication
• Biometrics
• Real-Time Location System

Segmentation on the basis of Distribution Channel:

• OEM
• Aftermarket

Segmentation on the basis of Vehicle Type:

• Two-wheeler
• Passenger Car
• Commercial Vehicle
• Others (Earthmoving Vehicle and Adventure Sports Vehicles)

Segmentation on the basis of Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa