Vehicle Security Market Research Report: Information by Technology (Ultrasonic, Radio Frequency Identification), by Component (UIP, BBS, Central Locking System, Automatic Collision Detection System, ADRS, Remote Keyless Entry System), by Vehicle Type (Passenger Vehicle, Commercial Vehicle) and Region – Global Forecast till 2017–2023
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The vehicle security market 2020 is prognosticated to attain a healthy growth rate. Vehicle theft has become a common crime, which has encouraged product innovations and developments. Introduction of advancing technologies is presumed to be witnessed soon. It is supposed to boost the car security market. According to the observation offered by Market Research Future (MRFR), the global vehicle security market is supposed to strike 6.38% CAGR during the assessment period, 2018 to 2023. Vehicle security camera is one of the primary products of the market that has gained popularity among the customers. It exhibits potential to lead the augmentation of the market in the years to come.
Electrification of automobiles, coupled with adoption of connected devices, has led to rising demand for car security system. It is also poised to spur growth of the vehicle cybersecurity market. This, in turn, is expected to support the growth curve of the vehicle security market by motivating new product launches. Also, the growth of the car security systems market is anticipated to shed light on the potential of the market in the coming years. The adoption of the developments of biometrics is presumed to catapult vehicle security market on growth trajectory.
The two segments of the vehicle security market, based on technology, assessed in the report are ultrasonic and Radio Frequency Identification (RFID). Among these, the Radio Frequency Identification (RFID) segment held the largest market share in 2017 and is expected to continue its dominance in the near future. It is projected to mark the fastest growth rate in the upcoming years.
On the basis of component, the vehicle security market has been segmented into UIP, BBS, automatic collision detection system, ADRS, central locking system, and remote keyless entry system. The remote keyless entry system segment is projected to register 10.15% CAGR across the review period.
By vehicle type, the segments assessed for the study of the vehicle security market are passenger vehicle and commercial vehicle. Among these, the commercial vehicle segment is expected to strike 7.37% CAGR over the forecast period.
On the basis of sales channel, the vehicle security market has been divided into OEM and aftermarket. Among these, the aftermarket segment is expected to expand at a higher rate of growth over the next few years.
The geographical study about the global vehicle security market has been covered in the study that covers the study of the following regions – North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). The country-based assessment of these regions is also presented in the report for offering a detailed insight into the market. APAC is projected to exhibit stellar growth as the automotive industry in the region is developing rapidly. Increasing demand for vehicles is expected to influence the vehicle security market in the region positively. China, Japan, and India are prognosticated to expedite the growth of the market by investing in product portfolio development. Sophistication of technologies is supposed to unravel new growth trajectories to capitalize on. This, in turn, is assumed to accelerate revenue generation in the regional vehicle security market in the coming years.
Denso Corporation (Japan), HELLA GmbH & Co. KGaA (Germany), Robert Bosch GmbH (Germany), Valeo (France), Continental AG (Germany), Mitsubishi Electric Corporation (Japan), Lear Corporation (US), Omron Corporation (Japan), Tokairika, Co, Ltd (Japan), and Alps Alpine Co., Ltd (Japan) are few of the players of the global vehicle security market.
In January 2020, biometrics for a wide range of auto applications has been showcased at the CES 2020.
Major Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Researc
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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