Stolen vehicle recovery systems are a combination of technologies for tracking the position of a vehicle in real-time. Most systems use GPS technology while some systems make use of cellular or radio transmitters to track the vehicles. The global market for stolen vehicle recovery systems is proliferating due to the rise in incidences of vehicle thefts and the high recovery rate of stolen vehicle recovery systems. Car tracking technology, which is used in stolen vehicle recovery systems is by far the most popular method of recovering a stolen vehicle.
Moreover, due to the increasing incidents of vehicle theft, the demand for stolen vehicle recovery systems has been rising in the last few years. Vehicles with stolen vehicle recovery systems are recovered more often and with lesser damage as compared to the vehicles that are not integrated with these systems. The continuous technological advancements in stolen vehicle recovery systems are expected to minimize the chances of damage to recovered vehicles. Thus, the high recovery rate of stolen vehicles is expected to have a moderate impact on the global stolen vehicle recovery system market, which is expected to be high during the rest of the forecast period. However, the growth of the market may be hindered by technological advancements in anti-theft systems and component failure in stolen vehicle recovery systems.
The key players of in the global stolen vehicle recovery system market are ARIKI Group (Spain), Altron (South Africa), Cartrack Holdings Limited (South Africa), Halo Group (US), LoJack Corporation (US), MiX Telematics (South Africa), Spireon, Inc. (US), Tracker Connect (Pty) Ltd. (South Africa), Robert Bosch GmbH (Germany), and Continental AG (Germany).
- To provide a detailed analysis of the market structure along with a forecast for the next five years of various segments and sub-segments of the global stolen vehicle recovery system market
- To analyze the global stolen vehicle recovery system market based on various tools such as Supply Chain Analysis and Porter’s Five Forces Analysis
- To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
- To provide country-level analysis of the market with respect to the current market size and future prospects
- To provide country-level analysis of the market for segments by product, technology, vehicle type, and region
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and development in the global stolen vehicle recovery system market
Europe accounted for the largest market in the global stolen vehicle recovery system market, owing to the main focus of original equipment manufacturers (OEMs) on incorporating advanced safety features for ensuring the safe distribution of goods and efficient city transportation. Additionally, the extensive presence of the largest players dealing in stolen vehicle recovery systems, such as LoJack and Continental AG, is another factor contributing to the growth of the stolen vehicle recovery system market in the region.
However, the presence of tier 1 stolen vehicle recovery system manufacturers, such as Robert Bosch Gmbh, Continental AG, and many other local manufacturers is projected to increase the market share of North America during the forecast period. Additionally, favorable government regulations regarding vehicular safety and controlling the vehicle theft rate are anticipated to boost the market growth in the region.