Vehicle Anti-Theft System Market

Global Vehicle Anti-Theft System Market (2023 to 2028)

The global vehicle anti-theft system market was worth USD 13.91838 billion in 2023 and is anticipated to reach a valuation of USD 19.4302 billion by 2028. It is predicted to register a CAGR of 6.90% from 2023 to 2028.

There has been a fast expansion in the number of vehicle burglaries. To battle this, there is an expansion in the appropriation of anti-theft frameworks for vehicles around the globe. Factors affecting adoption include ease of use and financial costs. Through these systems, lost vehicle tracking, intrusion detection, and detection devices can be attached to the vehicle to secure it. The increase in the production of cars of various types is driving the growth of the vehicle anti-theft systems market.

From a straightforward lock and key to refined biometric distinguishing proof frameworks, vehicle anti-theft frameworks have made considerable progress throughout the long term. The underlying technologies and devices aimed at preventing unauthorized access to vehicles have undergone a massive change. The adoption of anti-theft systems for vehicles is driven by several factors, such as ease of use, financial costs, and theft threshold. While some basic devices disable the vehicle, others allow advanced protection, such as stolen vehicle tracking, interior intrusion detection, battery-powered sirens, and tilt detection devices, among others.

MARKET DRIVERS:

The rise of Bluetooth and NFC technologies is expected to drive the growth of the global vehicle anti-theft systems market, as these technologies improve vehicle security without the Internet. NFC technologies require less power and help lock and unlock vehicles. It also helps to share information with users, such as car position, fuel status, and lock status, among others. Bluetooth technologies help connect vehicles to vehicles, infrastructure, and everything. Provides navigation, driver assistance, and unlock functions to enhance vehicle safety.

MARKET RESTRAINTS:

The potential failure of electronic components used in vehicle anti-theft systems is holding back the growth of the worldwide market. Automakers need long periods of time to resolve such failures, further hampering market growth.

IMPACT OF COVID-19 ON THE VEHICLE ANTI-THEFT SYSTEM MARKET:

The auto industry forecasts a huge loss in 2020 due to closings to combat the coronavirus pandemic. Production is nearly stagnant as governments have imposed lockdowns and companies themselves have closed their factories to help break the chain of the coronavirus epidemic. Since these measures will remain in place until at least the end of 2020, companies will certainly lose a third of production during the financial year. Moreover, an improvement in the COVID-19 situation would not bring much relief to the industry, as consumer confidence would take a while to get back to normal.

REPORT COVERAGE:

This market research report on the global vehicle anti-theft system market is segmented and sub-segmented into the following categories.

Global Vehicle Anti-Theft System Market - By Vehicle Type:

• Passenger Car
• Commercial Vehicles
• Off-Highway Vehicles

Passenger cars are estimated to have the largest market share in the global vehicle anti-theft systems market due to the increased purchasing power of consumers, improved lifestyles, and rapid infrastructure development.

Global Vehicle Anti-Theft System Market - By Product:

• Alarm
• Biometric Capture Device
• Passive Keyless Entry
• Central Locking System
• Immobilizer
• Steering Lock

The widespread adoption of engine immobilizers in vehicles explains the apparent popularity of this type of vehicle anti-theft system. The market for vehicle anti-theft frameworks presents various choices for vehicle makers regarding different validation steps. All significant vehicle makers supply vehicle models with immobilizers as a feature of a vehicle anti-theft framework. While other vehicle anti-theft systems show a significantly higher growth rate, including central locking, steering locks, and biometric capture devices, engine immobilizers are expected to account for the highest revenue on the market by 2022.

Global Vehicle Anti-Theft System Market - By Type:

• Active Anti-Theft System
• Passive Anti-Theft System

Global Vehicle Anti-Theft System Market - By Technology:

• Global Positioning System 
• Global System for Mobile Communication 
• Real-Time Location System 
• Face Detection System 
• Remote Frequency Identification Device
• Automotive Biometric Technology 

Face detection technology is a facial recognition-based ignition system that replaces the car key with the user's face identification. Advances in car hardware have presented different vehicle anti-theft framework advances, including face recognition innovation that joins extravagance and security. While car biometric innovation is relied upon to extend quickly, and continuous area innovation speaks to the second biggest piece of the vehicle anti-theft frameworks market, face detection innovation is required to be the predominant segment in the frameworks market anti-theft gadgets for vehicles.

Global Vehicle Anti-Theft System Market – By Region:

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

Among them, the Asia-Pacific region leads the market in terms of value. This is due to the annual growth of sales in the automotive industry and the increase in automobile production in the region caused by the rapid growth of the urban population. Also, in the future, Asia-Pacific will maintain its dominant market share. The North American market is driven by the presence of Original Equipment Manufacturers (OEMs), namely Ford Motor Company, General Motors, and Fiat-Chrysler Automotive in the region. This, coupled with a substantial customer base and high end-user purchasing power, has increased the demand for vehicles, which has boosted the market for vehicle anti-theft systems.

MARKET KEY PLAYERS:

Significant players accounted in the global vehicle anti-theft system market report are Denso Corporation, Continental AG, Omron Corporation, Robert Bosch GmbH, ZF TRW Automotive Holdings Corporation, Delphi Automotive Plc, Tokai Rika, Co, Ltd., Mitsubishi Electric Corporation, VOXX International Corporation, Lear Corporation, Hella KGaA Hueck & Co.

RECENT HAPPENINGS IN THIS MARKET:

• A reliable and inexpensive anti-theft system based on the Bosch XDK promises to end this situation.
• The Tigerbox is Omron's cheat game based on Hitachi Ltd.'s 32-bit 7034 series and connected to seven sensors attached to a car.
• As some portion of a fruitful advancement stage with clients and accomplices, innovation organization Continental won new creation orders for its CoSmA cell phone vehicle access framework.
• DENSO Corporation (DENSO) and NTT Communications Corporation (NTT Com) will begin to validate their jointly developed Vehicle Security Operation Center (V-SOC) technology to monitor and analyze vehicle security status from January 2020.