Vehicle Anti-Theft System Market Size, Share, Growth, and Industry Analysis, By Type (Central Locking, Biometric Capture Device & Remote Keyless Entry), By Downstream Industry (Passenger Car & Commercial Vehicle) and Regional Forecast to 2032

Updated On: 02 September 2024

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VEHICLE ANTI-THEFT SYSTEM MARKET REPORT OVERVIEW

The global Vehicle Anti-Theft System Market Size was USD 8.42 billion in 2023 and the market is projected to touch USD 12.30 billion in 2032, exhibiting a CAGR of 3.86% during the forecast period.

The vehicle anti-theft system market is growing at a rapid pace, mainly due to the increase in the number of car thefts and clients’ need for better protection. Immobilizers and alarms, biometric access control, and tracking devices are quite indispensable for today’s automobiles. On the same note, the eyelash extension products market is on the rise with the beauty business and the increased demand for beauty accessories and products. Gemstone’s technological advancements in the types of eyelashes, the kind of glue used, and the methods of application play an essential role in the growth of the market. Both markets have a tendency toward advanced consumer solutions in their specific industries.

COVID-19 Impact: Market Growth During Pandemic Due to Increased vehicle theft concerns

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID-19 pandemic seems to have benefited the vehicle anti-theft system market as a number of thefts emerged during the lockdowns. Due to the increase in the number of individuals using their own cars and ensuring their property safety, this market showed a significant increase. Also, growth in demand for digital and contactless technologies led to the evolution of anti-theft systems and strengthened market outcomes during the pandemic.

LATEST TRENDS

"Market growth is driven by advanced biometric technologies"

The new emerging technologies being witnessed in the vehicle anti-theft system market include biometrics, global positioning systems, and the use of the Internet of Things in smart security. More specifically, there is a growing interest in biometric systems based on fingerprint and face-recognition technologies due to their high security level and convenience. Consumer features such as these guarantee that only those with the right authorization can start and drive the car, thus cutting down on risks such as theft. This trend is explained by the need for automotive protection through the use of personalized and highly secure technologies.

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SEGMENTATION

By Type

Based on type the market can be categorized into Central Locking, Biometric Capture Device & Remote Keyless Entry

Central Locking: Central locking systems in the Vehicle Anti-Theft System Market enable the user to lock and unlock all the doors of the vehicle at a go from one control. They also interact with alarm systems, making general vehicle protection a lot stronger. These are favorites for their simplicity and are gradually accompanied by enhanced attributes such as the auto lock and theft alarm.

Biometric Capture Device: Technological advancement in the form of biometric capture devices is the next best thing when it comes to the vehicle anti-theft system market, as they allow various types and makes of vehicles to be accessed through one’s fingerprints or by facial recognition. These devices allow the vehicle to be started only by an authorized person and provide the best protection against theft. It improves the convenience of user operation and corresponds to the high security criteria necessary in today’s automobiles when interfacing with digital systems.

Remote Keyless Entry: Vehicle anti-theft systems have conventional use of remote keyless entry, thus allowing consumers to control their vehicles from a distance. DSC systems incorporate radio frequency signals to open, close, and possibly even start vehicles to increase comfort and security. They are known to be effective, simple to use, and commonly associated with anti-theft alarms for full protection.

By Downstream Industry

Based on Downstream Industry the market can be categorized into Passenger Car & Commercial Vehicle

Passenger Car: The eye wired to the passenger car classification is making use of eyelash extension products in individual capacity for enhancement of looks, thus pushing up demand in the segment. Products within this segment should be inclined toward novelties that capture natural hair or an over-the-top look according to consumers’ predilections and current trends. Furthermore, improvements in application methods and products directly target individual automobile owners who may require a body kit to change their look.

Commercial Vehicle: The Commercial Vehicle segment of the Eyelash Extension Products Market applies to organizations and workplaces where employees require more attractive appearances due to their interaction with customers. This segment requires high-quality, easy-to-clean eyelash extensions that will enhance the executive look while providing protection from fatigue or a harsh working environment. This is served by innovative products that provide clients with extensions that can last for a long time without needing many touch-ups while in their work environment.

DRIVING FACTORS

"Market growth is spurred by increasing theft tactics"

Global trends in vehicle thefts are some of the main factors boosting the vehicle anti-theft system market. This is due to the fact that as the tactics of theft advance, the need for better security measures has been realized. This has made consumers and manufacturers come up with proper measures to enhance security for their properties.

"Market growth benefits from modern automobile innovations"

The vehicle anti-theft system market is strongly influenced by the progress of modern automobile innovation which resulting Vehicle Anti-Theft System Market Growth. Self-service kiosks, which provide biometric authentication, GPS, and IoT-empowered security frameworks, are providing better safety and comfort. Such advanced technologies are also welcomed by consumers who wish to have the most current solutions for their cars.

RESTRAINING FACTOR

"Market growth is hindered by high costs"

The high cost of information technology systems used in advanced anti-theft systems for vehicles is again a major thorn in the flesh for the growth of the market. These superior security systems, for instance, biometric and IoT-integrated ones, may attract high costs of installation and maintenance. Such limitations tend to restrain the increased uptake of the products, especially by consumers who are conscious of the costs they incur and in developing countries.

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VEHICLE ANTI-THEFT SYSTEM MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America to dominate the market owing to robust automotive security"

North America holds the largest share in the vehicle anti-theft system market mainly because of the eminent automotive sector, higher density of car ownership, and voluntary safety norms. The region has a very robust emphasis on security systems, and this, coupled with technological innovations among various key market players, has resulted in high penetration of sophisticated anti-theft systems. At the same time, the growing concern of consumers about the possibility of vehicle theft also contributes to market growth in North America.

KEY INDUSTRY PLAYERS

"Market growth driven by investments and innovations"

Some of the prominent market players are investing significantly in vehicle anti-theft system market development for enhanced security systems and new collaborations. Thus, he and his partners improve the portfolio of technologies, including biometric authentication and IoT security solutions, and satisfy consumers’ high security requirements. The increased distribution networks and good marketing strategies to reach the market and increase its adoption are to add strength to their advantage.

List of Market Players Profiled

• U-Shin Ltd (Japan)
• Johnson Electric (Hong Kong)
• Robert Bosch GmbH (Germany)
• Continental AG (Germany)
• VOXX International (U.S)

INDUSTRIAL DEVELOPMENT

May 2nd, 2023: Continental recently said it had formed a partnership with a cybersecurity firm to design sophisticated anti-theft systems for cars that are based on threat detection and prevention. This is an example, and since new creations (within the last month or two) may not yet be fully public, the date could be estimated.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Vehicle Anti-Theft System Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose Downstream Industry may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.