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The Asia Pacific region holds a significant share of the vehicle anti-theft system industry owing to the growing vehicle ownership in the region. Moreover, security and safety threats in countries like India, Indonesia, Thailand, and Vietnam, among others, are surging the requirement for optimal vehicle anti-theft systems, hence driving the market growth. As countries such as India and China are some of the largest manufacturers of automobiles, the demand for vehicle anti-theft systems during manufacturing is surging, which is significantly contributing to the market growth. In addition, the growing popularity of electric and autonomous vehicles in developed countries like Japan, South Korea, and Singapore, among others, is leading to a surge in demand for advanced vehicle anti-theft systems. This is projected to bolster the growth of the industry in the forecast period.
DENSO Corporation (TYO: 6902), one of the leading companies in the market, announced in November 2020 that it had invested in Lambda:4. The investment would strengthen the company’s passive digital key while enhancing the accuracy of location and authentication of user capabilities to boost the security and safety of smart keys. Moreover, the investment is also expected to surge the company’s innovations in localisation systems and enable it to offer personalised passive access to vehicles. It would further boost the security and convenience of road travel while enhancing the consumer experience. In addition, the company’s innovations are projected to surge the security and safety of autonomous and connected cars, the demand for which is growing significantly. Such initiations by major companies are projected to surge the development of innovative vehicle anti-theft systems and provide impetus to the market growth in the forecast period.
Market Analysis by Vehicle Type, Product Type, Technology, and Region:
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The major players in the global vehicle anti-theft system market are Continental AG, DENSO Corporation, Hella KGaA Hueck & Co., Lear Corporation, and Mitsubishi Electric Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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