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Vehicle Security Systems Market

Vehicle Security Systems Market

Vehicle Security Systems Market Global Industry Assessment & Forecast

# Pages:


Base Year:


Nov - 2021


Report Code:


Segments Covered
  • By Product Type Alarm, Keyless Entry, Immobilizer, Central Locking, Other Types
  • By Vehicle Type Commercial Vehicles, Passenger Vehicles, Off-highway Vehicles
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: 9.28 Billion
Revenue 2028Revenue 2028: 14.72 Billion
Revenue CAGRRevenue CAGR (2021 - 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

Research Methodology: Vehicle Security Systems Market - Global Market Assessment, 2021 - 2028

Vehicle Security Systems Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research. 

Secondary Research

Primary Research:

The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others. 

Data Triangulation and Market Size Estimations

Top-down and bottom-up approaches are used to validate and estimate the market size of the Vehicle Security Systems market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market.  Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Vehicle Security Systems market.

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.