Vehicle Security Systems Market

Vehicle Security Systems Market by Product Type (Alarm, Keyless Entry, Immobilizer, Central Locking, Other Types) by Vehicle Type (Commercial Vehicles, Passenger Vehicles, Off-highway Vehicles) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Vehicle Security Systems in terms of revenue?

    The global Vehicle Security Systems valued at 9.28 Billion in 2020 and is expected to reach 14.72 Billion in 2028 growing at a CAGR of 8.10%%

  • Which are the prominent players in the market?

    The prominent players in the market are Tokai Rika Co. Ltd., Robert Bosch GmbH, ZF TRW Automotive Holdings Corporation, Mitsubishi Electric Corporation, Hella Kgaa Hueck & Co., Denso Corporation, Lear Corporation, Continental AG, Valeo SA, Delphi Automotive..

  • At what CAGR is the market projected to grow within the forecast period?

    The market is project to grow at a CAGR of 8.10%% between 2021 and 2028.

  • What are the driving factors fueling the growth of the market.

    The driving factors of the Vehicle Security Systems include

    • The increasing technological innovation in the automotive security industry is anticipated to augment the growth of the vehicle security systems market during the forecast period. The current technological developments like tracking systems, passive immobilizers, and personal alarm pagers, provides high-tech alternatives that makes the vehicles harder to steal and easier to track. Additionally, car and alarm manufacturers are constantly trying to improve their security systems against theft. Great achievements have been made recently by incorporating the alarm system as an integral part of the vehicle electronics.
    • The implementation of government regulations for installing security systems is expected fuel the growth of the vehicle security systems market during the forecast period. For instance, it is compulsory to fit government approved immobilizers before licensing or transferring a vehicle in the territory according to Government of Western Australia, Department of Transport. Moreover, installing vehicle security system decreases the probability of car theft to a higher percentage. Additionally, some insurance companies refuse to provide insurance to vehicles that does not have a security systems installed in them.

  • Which region accounted for the largest share in the market?

    North America was the leading regional segment of the Vehicle Security Systems in 2020.

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