Global Vehicle Security Systems Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Vehicle Security Systems Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global vehicle security systems market report has been segmented on the basis of product type, technology, vehicle type, sales channel, and region

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Global Vehicle Security Systems Market: Overview

Vehicle security system is an essential tool which prevents vehicle theft and avoids usage of vehicles by some unauthorized or unwanted person. Advanced car security systems such as Eclipse 360-degree vehicle surveillance security system and Avital 5103 are making the vehicle safer, secure, and comfortable. Such car security systems are easily installed in almost all type of vehicles such as heavy vehicles, light vehicles, and passenger vehicles.

Global Vehicle Security Systems Market: Dynamics

Increasing instances of vehicle thefts, shifting preference towards sophisticated and reliable vehicle security systems are some major growth drivers for the global car security systems market. In addition, growing consumer awareness regarding sophisticated or advanced vehicle security features, and vehicle security regulations are the other factors driving growth of the global market. Moreover, insurance policies and government regulations for safety and security are forcing automakers to install car security systems as standard features in new cars. The increasing demand for engine start security, alarm security, and keyless access systems, and growing use of smart mobile applications in vehicle security systems are creating lucrative opportunities for the players operating in the target market. Whereas, high initial cost for installation may hamper growth of the target market.

Recent trend observed in the target market is automakers offerings different car security systems such as immobilizers, glass break sensors, shock sensors, inclination sensors, stolen vehicle trackers, central locking systems, alarm systems, and others. Recent technological advancements such as Global Positioning System (GPS), Radio Frequency Identification System (RFID), and Real-time locating system (RTLS) are helping to track down stolen cars.

Global Vehicle Security Systems Market: Segment Analysis

Among the product type segments, the immobilizers holding significant share in the market over the forecast period.

Among the technology segments, the GPS segment is the most lucrative segment during the forecast.

Among the vehicle type segments, the passenger vehicle is accounting significant revenue share in the global market.

Among the sales channel segments, the OEM segment is leading the global vehicle security systems market.

Global Vehicle Security Systems Market: Regional Analysis

With the increasing car security consumption and rising awareness among car owners in Asia Pacific, expected to dominate the global market over the forecast period. In addition, rise in the number of criminal and theft activities associated with automotive urged demand for vehicle security systems in Asia Pacific. Furthermore, introduction of biometrics security and passive entry system is encouraging North American automotive manufacturers. High demand for security systems in vehicles coupled with increasing disposable income, giving a new way for growth of the target market.

The market in Middle East & Africa accounts for moderate revenue share in the target market and is expected to witness considerable growth in the coming period.

Global Vehicle Security Systems Market Segmentation:

Segmentation on the basis of Product Type:

Alarm System
Immobilizers
Central Locking System
Others (Keyless Entry and Passive Entry)

Segmentation on the basis of Technology:

GPS
Mobile Communication
Biometrics
Real-Time Location System

Segmentation on the basis of Distribution Channel:

OEM
Aftermarket

Segmentation on the basis of Vehicle Type:

Two-wheeler
Passenger Car
Commercial Vehicle
Others (Earthmoving Vehicle and Adventure Sports Vehicles)