Demand for GPS-Based Vehicle Anti-Theft Systems Is Projected to Account for Revenues Worth US$ 9,670.5 Mn by 2022-end
September 15, 2021
Vehicle anti-theft systems are devices installed on vehicles or associated premises to prevent unauthorized approach to vehicles and incidences of theft.ROCKVILLE, MARYLAND, UNITED STATES, September 15, 2021 /EINPresswire.com/ -- According to the latest report by Fact.MR, the global market for vehicle anti-theft systems is expected to reach revenues worth US$ 6.764.1 Mn in 2017, with sales expected to expand at an impressive 7.4% CAGR during the forecast period 2017 to 2022. The Demand for vehicle anti-theft systems is further projected to account for revenues worth US$ 9,670.5 Mn by 2022-end.
Recent developments in anti-theft systems for vehicles have shown the possibility of integrating smartphones & smartwatches in vehicle systems. This is further expected to enable linking with many other features, enhancing the driving experience for vehicle owners. For example – this technology will offer information related to distances, amount of fuel left in vehicles, and maps of places nearby. The growth of biometric technology has promised to develop anti-DUI enforcements as well as anti-theft measures. Factors such as these are expected to drive growth of the global vehicle anti-theft system market.
With alarming instances of vehicle thefts across the globe, the demand for vehicle anti-theft system has been undergoing a sea change. Fortifications in the vehicle anti-theft systems have further encouraged integration of smartphones & smartwatches, thereby influencing dynamics of the vehicle anti-theft system market. Moreover, exclusive features such as GPS-tracking and fuel-oriented updates are pushing adoption of vehicle anti-theft systems. To enlighten readers about stellar business opportunities in the industry, Fact.MR compiled a research study on vehicle anti-theft system market for the forecast period of 2017 to 2022. The report opines the global vehicle anti-theft system market to touch a valuation of US$ 9,670.5 Mn by 2022-end.
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The technological advancements in anti-theft systems for vehicles have registered a robust expansion over the recent past, owing to rising focus of vehicle manufacturers in offering convenience & safety to passengers. OEMs are concentrating on boosting their production capacity, coupled with expansion of their technical centers, with an aim to fulfil increasing vehicle demand worldwide. These factors are further estimated to fuel growth of the market over the forecast period.
10 Projections for the Global Vehicle Anti-Theft System Market
Immobilizer anti-theft systems are expected to remain preferred among products, to account for largest revenues by 2022-end.
Sales of central locking systems are expected to exhibit the fastest expansion, to be the second most lucrative product in the global market for vehicle anti-theft systems by 2022-end.
Sales of steering locks, and biometric capture devices in the global vehicle anti-theft system market are estimated to register similar CAGRs through 2022. Revenues from steering locks are expected to remain comparatively larger than the biometric capture devices.
Vehicle anti-theft systems will witness largest adoption in passenger cars, exhibiting a high single-digit CAGR over the forecast period. Revenues from vehicle anti-theft systems sold in passenger cars will account for nearly 3/4th share of the market, on the basis of vehicle type.
Face-detection technology is estimated to be dominant in the global market for vehicle anti-theft systems.
Sales of the automotive biometric technology are expected to exhibit the highest CAGR through 2022.
Real time location will continue to be the second largest adopted technology for vehicle anti-theft systems during the forecast period.
In terms of revenues, Asia Pacific Excluding Japan (APEJ) is expected to remain the most lucrative market for vehicle anti-theft systems.
Vehicle anti-theft systems’ sales in North America are estimated to register the highest CAGR through 2022. However, market in Europe will continue to be comparatively more lucrative than the market in North America during the forecast period.
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Key companies profiled in the vehicle anti-theft system market report include
Robert Bosch GmbH
ZF TRW Automotive Holdings Corporation
Delphi Automotive Plc
TOKAI RIKA CO LTD.
Mitsubishi Electric Corporation
VOXX International Corporation
HELLA KGaA Hueck & Co
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Additional Questions Answered
In addition to the aforementioned insights of the vehicle anti-theft system market, the report addresses other vital facets that hold significance in transforming the global market landscape of vehicle anti-theft systems during the forecast period.
How will the evolving government regulations shape the future progress of the vehicle anti-theft system market?
What will be the key business strategies of manufacturers in the vehicle anti-theft system market to address increasing incidences of car thefts?
How will OEMs in the vehicle anti-theft system market match the pace of evolving technology trends?
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