Automotive Anti-theft System Market:
Executive Summary
Automotive theft has always been a disturbing issue across the world, and due to the advancements of the electronic systems, it has become more persistent in recent years. Thus, to battle with this situation, the Automotive OEMs are now focusing on creating efficient automotive anti-theft systems. Among the types of these systems, the advanced biometric method is considered to be one of the best as it is technologically more superior and sophisticated.
Most of the automotive anti-theft systems feature an in-built alarm that helps the owner to detect intrusion by making loud audible sounds. Some of the systems also come equipped with a body control module or BCM and powertrain control module or PCM, which prevents the car from starting if anyone tries to start the engine without using keys. Along with these, a few of the modern systems also carry a tracking device that can help the owner to locate the vehicle. However, if the main power source or the battery of someone’s car is faulty, then the equipped automotive anti-theft system will not work.
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One of the main factors, which will drive the market of automotive anti-theft systems, is, naturally, the sense of security of the people. The inclusion of the tracking device within the system is yet another thing that can drive the growth of the automotive anti-theft system market. Also, the growing focus on the usage of biometrics can be another factor that will positively impact the global market of automotive theft system. However, the thing, which might hamper the global market growth of automotive anti-theft systems, is their price.
Market Segmentation
From a general point-of-view, the market of automotive anti-theft systems can be segregated into three parts, which are- product type, application, and region. On the basis of the product type, the market is classified into two sections, software system and hardware devices. Among these two, the segment of software systems is expected to experience the highest growth in the upcoming years. This is due to their effectiveness as well as sophistication. Regarding its applications, the market of the automotive anti-theft system is also categorized into two parts, passenger cars, and commercial vehicles. Amongst these, the segment of passenger vehicles is estimated to grow at a significant rate because of their ever-increasing production volumes.
Geographically, the automotive anti-theft system market can be categorized into North America, South America, Asia, Europe, and Middle East & Africa. Among them, the Asian region currently holds the leading position of the global anti-theft system market due to the increasing vehicle production. For the same reason, this segment is also expected to experience much faster growth than the other regions. The North American region is anticipated to capture the second position because of the presence of well-established manufacturers and numerous other developments.
Due to the aforementioned reasons, the automotive anti-theft system market is experiencing heavy growth. Among the types, the immobilizer and the face detection system are showing the highest growth rate because of their efficiency and effectiveness.
Continuous…
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