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Global Vehicle Anti-Theft System Market to Grow at a CAGR of 6.57% During 2021-2026, Aided by the Rising Vehicle Ownership

According to a new report by EMR titled, ‘Global Vehicle Anti-Theft System Market Report and Forecast 2021-2026’, the global market for vehicle anti-theft system attained a value of about USD 10.87 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 6.57% to reach nearly USD 15.92 billion by 2026.

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:

  • The market, on the basis of vehicle type, can be divided into passenger vehicle and commercial vehicle, among others.
  • Based on product types, the industry can be divided into immobilisers, alarm, steering lock, central locking system, biometric capture device, and remote keyless entry.
  • The major technologies of vehicle anti-theft system include global positioning system (GPS), global systems for mobile communications (GSM), real time location system (RTLS), face detection system, remote frequency identification device (RFID), and automotive biometric technology.
  • The regional markets for vehicle anti-theft system include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing car ownership among the growing middle-class population and the rising incidences of thefts are aiding the market growth of vehicle anti-theft.
  • The market is being aided by the rising use of global positioning system (GPS) technology in vehicle anti-theft systems.
  • The integration of automotive biometric technology in vehicle anti-theft systems to bolster the security of automobiles is propelling the market growth.
  • The development of keyless car technology and multi-modal technologies to prevent unauthorised intrusion in automobiles is augmenting the growth of the vehicle anti-theft industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for vehicle anti-theft system for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the vehicle types, product types, technologies, and major regions of vehicle anti-theft system.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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