Anti-theft systems are becoming a common feature in modern vehicles. This is also due to the enforce of new automotive safety guideline, which make ant-theft systems mandatory. This has let to a booming market for vehicle anti-theft. According to a report published by Market Research Future (MRFR), the global vehicle anti-theft market is set to exhibit a stellar growth during the forecast period (2017-2022).
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Advances in automotive technology has led to development of critical automotive features. Anti-theft system is one of crucial development. These systems have witnessed a rapid uptake in passenger cars. Recognizing the opportunities, more players are entering the domain. Meanwhile many companies are emphasising on product innovation in order to gain a competitive edge. Vehicle anti-theft systems comprise biometric and software applications. Advances in technology has made these systems highly effective and reliable.
Anti-theft systems are integrated with features such as vehicle tracking, ultrasonic sensors, digital signal processing, etc. Demand for anti-theft systems with Global System for Mobile Communication (GSM) and Global Positioning System (GPS) is on the rise. This is mainly owing to the exceptional tracking capabilities of these systems. Latest variants come with capabilities such as ARM 7 microcontroller, hybrid GPS-GSM, and RFID sensor capability. Such factors are driving the adoption of vehicle anti-theft systems.
Manufacturers are focusing on adding innovative feature to these systems in order to expand their application based. As a result, technologies such as RTLS, GPS, and biometric is gaining traction in the automotive sector. Global Vehicle Anti-Theft Market is also benefiting the from the rising demand for passenger and commercial vehicles is emerging economies.
The major player operating in the market of Global Vehicle Anti-Theft are Continental AG, Robert Bosch GmbH, Tokai Rika, Ltd., Lear Corporation, Johnson Electric, Delphi Automotive LLP, ZF-TRW, Mitsubishi Electric Corporation, and VOXX International Corp.
The segmental analysis of the market has been conducted based on product, technology, vehicle type, and region.
On the basis of product, the market has been segmented into central locking, steering lock, comprises immobilizer and alarm. On the basis of technology, the market has been segmented into GSM, Face Detection System, Automotive Biometric Technology, RTLS and comprises GPS. On the basis of vehicle type, the market has been segmented into commercial vehicle and passenger car.
On the basis of region, key segments include APAC, Europe, North America and rest of the world (RoW). Of these, the market is expected to witness a relatively higher growth in APAC. China’s growing dominance in the automotive manufacturing is auguring well for market players operating in the APAC. OMEs is the region have recorded a higher demand for vehicle anti-theft systems in recent years, which is fuelled by the increased automotive manufacturing the region. Vehicle manufacturers are shifting their manufacturing facilities to APAC countries owing to cost-benefits, favourable regulations and widespread availability of raw materials. The exponential growth of the automotive manufacturing sector in APAC is supporting the market growth in the region. Companies such as Ford, GM, and Volkswagen are ramping up investment in countries such as India, Vietnam and China. During the forecast period, the countries aforementioned mention, especially China is expected to make a significant contribution to the market in APAC in terms of revenue. Apart from APAC, the market is likely to post a sound growth in North America over the next couple of years. Increased efforts to boost domestic manufacturing in the US in expected to influence the market North America over 2022.
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