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Vehicle Security Market – 2019 Size, Share, Trends, Growth Insight, Competitive Landscape, Key Players, Regional Analysis, And Global Industry Forecast To 2023

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Vehicle Security Market – 2019 Size, Share, Trends, Growth Insight, Competitive Landscape, Key Players, Regional Analysis, And Global Industry Forecast To 2023

September 28
01:46 2019
Vehicle Security Market - 2019 Size, Share, Trends, Growth Insight, Competitive Landscape, Key Players, Regional Analysis, And Global Industry Forecast To 2023

“”Vehicle Security Market””
Vehicle Security Market predicted to register a CAGR of 6.38% during the forecast period (2018-2023), Market Research Future (MRFR) unveils in a detailed report. Incidences of Vehicle Burglary to Promote growth of Global Vehicle Security Market. The vehicle security market is segmented on the basis of vehicle type, technology, sales channel, and component.

Competitive Dashboard:

The players dominating the global vehicle security market include Robert Bosch GmbH (Germany), Denso Corporation (Japan), Valeo (France), HELLA GmbH & Co. KGaA (Germany), Continental AG (Germany), Mitsubishi Electric Corporation (Japan), Tokairika, Co, Ltd (Japan), Lear Corporation (US), Alps Alpine Co., Ltd (Japan), and Omron Corporation (Japan).

Get free sample “Global Vehicle Security Market 2019 Report” at: https://www.marketresearchfuture.com/sample_request/4077

Market Scenario

The global vehicle security market is likely to expand at breakneck speed, mainly due to the surging incidences of vehicle burglary and theft attempts. Industry bigshots in the vehicular security market are highly investing in R&D activities to provide latest and innovative security systems that can sense unusual activities and inform the owner by sending a notification or triggering an alarm. A large number of new entrants in the market is further amplifying the competition, thereby making the vehicle security systems market extremely competitive. Consumer needs for security systems and an upsurge in car purchase are intensifying the demand for the product across the globe. Moreover, the surging demand for engine start security, coupled with keyless access systems and extensive use of smart mobile applications are some of the opportunities likely to boost the market growth in the foreseeable future. Mounting Demand for Engine Start Security to Encourage Vehicle Security Market Growth. Demand for Keyless Access System to Provide Tailwind to Vehicle Security Market.

On the contrary, the probability of false alarm and the high cost of these systems are estimated to vitiate the growth in the coming years. The technology used to create these devices are new in the industry and thus incurs high initial installation cost, thus curtailing the growth of the market.

Vehicle Security Market Segmental Analysis:

The vehicle security market is segmented on the basis of vehicle type, technology, sales channel, and component.

By vehicle type, the vehicle security market is segmented into passenger cars and commercial vehicles. Of these, the passenger car segment is predicted to dominate the market owing to the surging penetration of security systems in passenger vehicles.

By technology, the vehicle security market is segmented into ultrasonic and radio frequency identification. Among these, the radio frequency identification segment will dominate the market and is likely to surpass a valuation of USD 7,430.92 million by 2023.

By component, the vehicle security market is segmented into backup battery siren (BBS), ultrasonic intruder protection system (UIP), automatic collision detection system, central locking system, remote keyless entry system, and automatic driver recognition system (ADRS). Of these, the central locking system segment is likely to acquire the largest share as prominent automobile manufacturers are offering inbuilt central locking systems in the vehicles.

By sales channel, the market comprises original equipment manufacturers and aftermarket. Of these, the OEM segment will dominate the market. The segment is predicted to surpass a valuation of USD 10,026.99 million by the end of 2023.

Regional Frontiers

Geographically, the vehicle security market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).

Considering the global scenario, the Asia Pacific is considered to lead the global market, surpassing a valuation of USD 7,545.96 million, attaining an impressive CAGR of 8.07% by the end of 2023. The growth can be credited to the soaring demand for automobiles, especially in countries like India and China. Moreover, the region is home to several vehicle security market players, who are highly investing in developing sophisticated technologies for vehicle security. Such factors are predicted to encourage regional market growth in the foreseeable future. The market in this region is likely to experience tremendous growth due to rapid industrialization, surging population, and aggressive growth of the manufacturing industry. The rising production of vehicles, growing -vehicle services connected to the external cloud, changing in-vehicle electronic architecture, and expansion of leading OEMs and automotive component suppliers are some of the major factors triggering the demand from the vehicle security market. The market growth can also be credited to the surging sales of connected vehicles, along with government initiatives associated with the use of environment-friendly electric vehicles.

Europe bags the second spot in the global market and is likely to retain its position in the long run. The market in this region will surpass a valuation of USD 2,651.56 million, attaining a CAGR of 4.39% by the end of 2023. The region will make notable contributions in the upsurge of the vehicle security market, as it is considered the global automotive hub with the presence of industry bigshots like Volkswagen, Renault, Peugeot, BMW, Citroën, and Daimler. Moreover, the advent of autonomous vehicles will play a major role in the development of the market. Manufacturers in this region are highly emphasizing on introducing autonomous vehicles in the next couple of years, which is estimated to fuel the growth of the market in the coming years.

Industry Updates

July 2019: A supplier of premium cyber-security solutions for automotive, Arilou Automotive Cyber-Security Technologies has been recently awarded Frost & Sullivan’s 2019 Best Practices Award for Technology Innovation.

List of tables:

TABLE 1 MARKET SYNOPSIS 15 

TABLE 2 LIST OF ASSUMPTIONS 18 

TABLE 3 VEHICLE SECURITY MARKET: MACRO FACTOR INDICATOR ANALYSES 19 

TABLE 4 MAJOR GRANTED PATENTS ON VEHICLE SECURITY MARKET 36 

TABLE 5 REGULATORY LANDSCAPE: VEHICLE SECURITY MARKET 39 

TABLE 6 GLOBAL VEHICLE SECURITY MARKET, BY TECHNOLOGY, 2016–2023 (USD MILLION) 43 

TABLE 7 GLOBAL VEHICLE SECURITY MARKET, BY COMPONENT, 2016–2023 (USD MILLION) 47 

TABLE 8 GLOBAL VEHICLE SECURITY MARKET, BY VEHICLE TYPE, 2016–2023 (USD MILLION) 50 

TABLE 9 GLOBAL VEHICLE SECURITY MARKET, BY SALES CHANNEL 2016–2023 (USD MILLION) 53 

TABLE 10 GLOBAL VEHICLE SECURITY MARKET, BY REGION, 2016–2023 (USD MILLION) 55 

TABLE 11 NORTH AMERICA: VEHICLE SECURITY MARKET, BY COUNTRY, 2016–2023 (USD MILLION) 56 

TABLE 12 NORTH AMERICA: VEHICLE SECURITY MARKET, BY TECHNOLOGY, 2016–2023 (USD MILLION) 57 

TABLE 13 NORTH AMERICA: VEHICLE SECURITY MARKET, BY COMPONENT, 2016–2023 (USD MILLION) 57 

TABLE 14 NORTH AMERICA: VEHICLE SECURITY MARKET, BY VEHICLE TYPE, 2016–2023 (USD MILLION) 58 

TABLE 15 NORTH AMERICA: VEHICLE SECURITY MARKET, BY SALES CHANNEL, 2016–2023 (USD MILLION) 58 

TABLE 16 US: VEHICLE SECURITY MARKET, BY TECHNOLOGY, 2016–2023 (USD MILLION) 59 

TABLE 17 US: VEHICLE SECURITY MARKET, BY COMPONENT, 2016–2023 (USD MILLION) 60 

TABLE 18 US: VEHICLE SECURITY MARKET, BY VEHICLE TYPE, 2016–2023 (USD MILLION) 61 

TABLE 19 US: VEHICLE SECURITY MARKET, BY SALES CHANNEL, 2016–2023 (USD MILLION) 61 

TABLE 20 MEXICO: VEHICLE SECURITY MARKET, BY TECHNOLOGY, 2016–2023 (USD MILLION) 62 

Continued…

List of figures:

FIGURE 1 GLOBAL VEHICLE SECURITY: MARKET STRUCTURE 18 

FIGURE 2 RESEARCH PROCESS OF MRFR 21 

FIGURE 3 TOP-DOWN & BOTTOM-UP APPROACHES 24 

FIGURE 4 DRO ANALYSIS OF GLOBAL VEHICLE SECURITY MARKET 26 

FIGURE 5 VEHICLE THEFT IN THE US, 2014–2017 27 

FIGURE 6 DRIVERS IMPACT ANALYSIS: GLOBAL VEHICLE SECURITY MARKET 28 

FIGURE 7 RESTRAINT IMPACT ANALYSIS: GLOBAL VEHICLE SECURITY MARKET 30 

FIGURE 8 PORTER’S FIVE FORCES ANALYSIS: GLOBAL VEHICLE SECURITY MARKET 32 

FIGURE 9 SUPPLY CHAIN: GLOBAL VEHICLE SECURITY MARKET 34 

FIGURE 10 GLOBAL VEHICLE SECURITY MARKET, BY TECHNOLOGY, 2017 (% SHARE) 43 

FIGURE 11 GLOBAL VEHICLE SECURITY MARKET, BY COMPONENT, 2017 (% SHARE) 47 

FIGURE 12 GLOBAL VEHICLE SECURITY MARKET, BY VEHICLE TYPE, 2017 (% SHARE) 50 

Continued…

Browse more details at: https://www.marketresearchfuture.com/reports/vehicle-security-market-4077

About Market Research Future:

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