Market Overview
Market research done by experts has revealed that the global Vehicle Anti Theft Market is expected to attain a value of USD 16 billion by the end of 2028. The market is expected to grow at a CAGR of 15.92% by the end of 2028.
The vehicle anti-theft system is an integrated security system that prevents unauthorized access to the vehicle. The vehicle anti-theft system comprises of alarm, centralized locking, steering lock, immobilizer, remote access to vehicles without keys, biometric capture, etc. With the use of advanced anti-theft system in vehicles, users can enjoy many benefits, such as improved vehicle security, real-time vehicle tracking, and prevention of illegal activity. Anti-theft systems can be used in wide range of vehicles, including passenger cars, two-wheelers, commercial vehicles, heavy vehicles, etc.
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During the pandemic period, the Vehicle Anti Theft Market Growth was hampered due to strict lockdown measures, non-availability of workforce, and low production. In the post-COVID period, the market is recovering. The emergence of new technologies, such as Bluetooth, NFC, IoT, etc. is the important market driver for the Vehicle Anti Theft Market Growth. The cost of installation of anti-theft system in the vehicle is expensive and it can be a restraint for the growth of this sector.
Market Segmentation
The global Vehicle Anti Theft Market is segmented based on type, technology, product, vehicle type, sales channel, and region.
Based on sales channel, the sub-segments are aftermarket and OEM.
Based on vehicle types, the sub-segments are two-wheelers, commercial vehicles, and passenger cars.
Based on type, the sub-segments are active anti-theft system and passive anti-theft system.
Based on the technology, the sub-segments are global positioning system, face detection system, real-time tracking system, Global system for mobile communication, remote frequency identification device, and automotive biometric technology.
Based on the product, the market is further divided into alarm, immobilizer, steering lock, central locking system, passive keyless entry, and others.
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Regional Classification
The Vehicle Anti-Theft Market is divided into regions- Europe, Asia-Pacific, North America, and the Rest of the world. The larges Vehicle Anti Theft Market Share is occupied by North American region. The major leaders are the USA and Canada owing to the present of key players, huge investment in this sector, and faster adoption of technology.
During the forecast period, the Asia-Pacific region is expected to grow rapidly due to rapid growth of the automobile industry, increasing population, increasing number of people with high disposable income. The countries that will lead the market of Vehicle Anti Theft Market Growth in the Asia-Pacific region are India, China, Japan, South Korea, and Australia.
Industry Growth
There are many key players in the global Vehicle Anti Theft Market. These market players are investing huge amount of money in research and development so that anti-theft systems with latest technologies can be used in vehicles to make them safer. The Vehicle Anti Theft Key Players are also going for mergers and partnerships to reach a larger customer base across the globe.
· BMW has announced use of digital key that will have UWB (ultra-wideband).
· Volkswagen has also introduced its first car with UWB technology.
· Hyundai has introduced touch ID enable system to unlock and start a car.
Key Players
· Continental AG
· Robert Bosch GmbH
· Tokai Rika Ltd.
· Lear Corporation
· Johnson Electric
· Delphi Automotive LLP
· ZF-TRW
· Mitsubishi Electric Corporation
· VOXX International Corp.
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