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“Growing demand for and awareness regarding safety technologies to drive the vehicle anti-theft system market”
The vehicle anti-theft system market is estimated to be USD 8.33 billion in 2016, and is projected to reach USD 11.64 billion by 2021. The market, in terms of value, is projected to grow at a CAGR of 6.92% from 2016 to 2021. Factors such as increasing vehicle sales, growing awareness regarding vehicle anti-theft systems among consumers, government regulations mandating safety features, and increase in vehicle thefts are driving the demand for vehicle anti-theft systems. However, the rising production costs of premium safety features make these features unaffordable for consumers, and could adversely affect the vehicle anti-theft system market.
“Technological advancements are a key driver of the immobilizer market”
The immobilizer segment is estimated to account for the largest market share in 2016. There has been a rapid increase in the number of technological advancements in vehicle anti-theft technology. This can be primarily attributed to the growing demand for features that increase the convenience and safety of vehicle passengers. The latest vehicle immobilizer system sends a message to the registered phone number of the vehicle-user in case of forced entry. The message includes additional information such as the image of the user in the driver seat or the global positioning system (GPS) location of the vehicle.
“Increasing installation of safety features and rising vehicle production will likely drive the vehicle anti-theft system market in the Asia-Pacific region”
Asia-Pacific is estimated to be the largest market for vehicle anti-theft systems. The Asia-Pacific vehicle anti-theft system market, in terms of value, is projected to grow at the highest CAGR from 2016 to 2021. This can be mainly attributed to the rising vehicle production and the increasing installation of safety features in passenger cars, commercial vehicles, and off-highway vehicles.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 42 %, Tier 2 - 26%, Others - 32%
- By Designation - C level - 40%, D level - 29%, Others - 31%
- By Region - North America - 38%, Europe - 22%, Asia-Pacific - 30%, Rest of the World - 10%
Reasons To Buy the Report:
The report provides insights about the following points:
- Market Penetration: Comprehensive information about the vehicle anti-theft system market offered by the top 10 players in the market
- Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the vehicle anti-theft system market
- Market Development: Comprehensive information about types of vehicle anti-theft systems. The report analyzes the market for various vehicle anti-theft systems across multiple regions
- Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the vehicle anti-theft system market
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the vehicle anti-theft system market