The global vehicle anti-theft system market is anticipated to grow at phenomenal CAGR during the forecast period (2018 to 2025), according to a report available on Radiant Insights, Inc. Growing requirement for technologically advanced systems to prevent unauthorized access to automobiles is anticipated to propel demand for vehicle anti-theft systems. Such systems are likely to offer advanced protection features such as detection of interior intrusion, tracking of stolen vehicle, and battery back sounders. Integration of anti-theft systems for automobiles and technologies such as real-time location system (RTLS), global positioning system (GPS), and global system for mobile communication (GSM) can stimulate product demand in the forthcoming years.
Rising cases of vehicle thefts coupled with awareness regarding benefits of vehicle anti-theft systems can augment market growth. Growing use of advanced technologies such as pulse-echo algorithms and continuous-wave is expected to influence growth of market. High demand for multifactor authentication such as biometric technology in automobiles is likely to stimulate growth of market in the forthcoming years. Stringent government regulations pertaining to vehicle safety can surge market growth during the forecast period (2018 to 2025).
The vehicle anti-theft system market can be segregated on the basis of product, end-users, and region. Based on product, the market can be categorized into alarm, remote keyless entry, central locking, immobilizer, and steering lock. Immobilizer segment is anticipated to grow well during the forecast period owing to mandatory installation of device in vehicles to prevent theft in many countries. This device can notify
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To cater to rising demand for advanced protection systems for automobiles, most companies are focusing on R&D activities to develop advanced anti-theft systems for vehicles. For instance, Porsche recently introduced its new anti-theft protection system for all classic models. This advanced system is likely to offer autonomous sensor package that can be installed at concealed points on the vehicles. In addition, this device can communicate with security network spread across Europe. Tailored versions of this system are expected to suit all Porsche classic vehicles from 356 to Carrera GT.
Based on end-users, the market can be classified into commercial vehicle, passenger car, and off-highway vehicle. Regional segmentation includes North America, India, China, Japan, Europe, South Korea, and others. In India, China, and Japan the market is predicted to contribute for largest market share during the forecast period attributed to increasing sales of automobiles in the region. Rapidly growing urban population is likely to propel demand for automobiles in the region.
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In North America, the market is expected to witness significant growth attributed to high prevalence of original equipment manufacturers (OEMs) such as Ford Motors and General Motors in the region. In addition, rising disposable income and growing requirement for advanced vehicles can influence demand for anti-theft systems in the region.
In Europe, the market is estimated to grow well during the forecast period attributed to rising number of car thefts in the region. Increasing use of advanced technologies by local automobile manufacturers to develop effective anti-theft systems for vehicles can augment market growth in the region. Countries such as Germany, United Kingdom, France, Spain, Italy, Netherlands, and Russia are likely to contribute well to market growth.
Some of the leading companies offering vehicle anti-theft systems are Mitsubishi Electric Corporation, Johnson Electric, Delphi Automotive, Voxx International, and Continental AG. Most companies are likely to adopt strategic activities such as new product launch and mergers &acquisitions to gain traction among consumers.
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