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Vehicle Security Systems Market

Vehicle Security Systems Market

Vehicle Security Systems Market Global Industry Assessment & Forecast

# Pages:

145

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0590

Segments Covered
  • By Product Type Alarm, Keyless Entry, Immobilizer, Central Locking, Other Types
  • By Vehicle Type Commercial Vehicles, Passenger Vehicles, Off-highway Vehicles
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 9.28 Billion
Revenue 2028Revenue 2028: 14.72 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 8.10%
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Vehicle Security Systems market was valued at USD 9.28 Billion in 2020 and is projected to reach USD 14.72 Billion by 2028, growing at a CAGR of 8.10%% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2028
Annual Market Size (2028) 14.72 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 8.10%%

Overview and Description

Vehicle security systems such as alarms, central locking, remote keyless entry, passive entry systems, and immobilizers are designed to protect cars from hijacking or theft. Recent technologies such as RFID, GPS, and RTLS have also come to into use for tracking down stolen cars.


This report provides an analysis of the Vehicle Security Systems market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers exhaustive information on growth factors/drivers, restraints, opportunities, regulatory landscape and technology roadmap among others. Moreover, the report also includes exhaustive SWOT analysis, PEST analysis, value chain analysis, and Porter’s five forces analysis on Vehicle Security Systems market. This data is likely to help the industry stakeholders and stimulate the decision-making process.

Yearly Infographics 9.28 Billion 14.72 Billion

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries worldwide. The Vehicle Security Systems market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

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. 

The high cost of premium security features is expected to hamper the growth of the vehicle security systems market. Furthermore, developing security features such as passive entry systems is also a costly business since developing these systems requires a customized approach for each vehicle model, along with complex process of installation.

Global Vehicle Security Systems Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product Type, Vehicle Type
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered 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.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Product Type, Vehicle Type, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.

On the basis of Product Type, the market is divided into Alarm, Keyless Entry, Immobilizer, Central Locking, Other Types. Immobilizer dominated the global Vehicle Security Systems market in 2020 and is projected to witness the same trend during the forecast period.

Based on Vehicle Type, the market is segmented into Commercial Vehicles, Passenger Vehicles, Off-highway Vehicles. Passenger Vehicles accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Vehicle Security Systems Market: Product Type Segment Analysis

    • Alarm
    • Keyless Entry
    • Immobilizer
    • Central Locking
    • Other Types

Global Vehicle Security Systems Market: Vehicle Type Segment Analysis

    • Commercial Vehicles
    • Passenger Vehicles
    • Off-highway Vehicles

Regional Analysis: Preview

Based on the geography, the global Vehicle Security Systems market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.

The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2016–2028. 

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Vehicle Security Systems Market: Regional Analysis

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

Competitive Landscape

The global Vehicle Security Systems market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Vehicle Security Systems 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..  This section of the report provides in depth analysis on key market players based on various parameters such as business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. It will also include information on key strategies adopted by major market players. 

Global Vehicle Security Systems Market: Key Highlights

  • The global Vehicle Security Systems market was valued at USD 9.28 Billion in 2020
  • The global Vehicle Security Systems Market is projected to reach USD 14.72 Billion by 2028
  • North America held the highest share of the Vehicle Security Systems market in 2020
  • Some of the major companies operating in the Vehicle Security Systems 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.

FAQ
Frequently Asked Question
  • 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%%.

  • 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..

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

  • 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.

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