The global vehicle anti-theft system market grew at a CAGR of around 6% during 2014-2019. A vehicle anti-theft system refers to an integrated security device that prevents any unauthorized access to the vehicle. It majorly includes alarm, steering lock, central lock, remote keyless access, immobilizer, biometric capture device, etc. An advanced anti-theft system improves vehicle security, provides real-time tracking, and prevents any illegal activity. As a result, it is widely installed in two-wheelers, passenger cars, commercial vehicles, and off-highway vehicles.
The global vehicle anti-theft system market is primarily driven by the growing number of safety regulations pertaining to the high incidences of vehicle thefts. The expanding vehicle fleet along with the increasing awareness towards the safety benefits of anti-theft devices is also augmenting the market growth. Besides this, the implementation of several government regulations regarding vehicle safety is also propelling the market growth. Additionally, various technological advancements have led to the integration of face recognition, voice detection, biometric, and radio frequency identification with vehicle anti-theft systems. Moreover, rising digitalization along with the increasing penetration of smart devices has led to the introduction of remotely monitored safety systems. The emergence of advanced anti-theft devices with Internet-of-Things (IoT), Bluetooth, and near field communication (NFC)-based features is also driving the market growth. Furthermore, the novel sensor technology is increasingly being adopted to reduce the keyless car theft rate across the world. Additionally, the growing popularity of GPS-assisted anti-theft protection systems is also anticipated to drive the demand of vehicle anti-theft systems.
In 2020, the COVID-19 pandemic outbreak negatively impacted the market for vehicle anti-theft systems. As a result of the pandemic, regions across the globe were under complete lockdowns. This resulted in temporary shutdowns of manufacturing plants and major supply chain disruptions of raw materials. The vehicle anti-theft systems market, however, is expected to recover from 2021 onwards and exhibit moderate growth during 2021-2025.
IMARC Group provides an analysis of the key trends in each sub-segment of the global vehicle anti-theft system market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, vehicle type, product type and technology.
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The competitive landscape of the industry has also been examined with some of the key players being Continental AG, Delphi Technologies, Denso Corporation, HELLA GmbH & Co. KGaA, Johnson Electric Holdings Limited, Lear Corporation, Mitsubishi Electric Corporation, Omron Corporation, Robert Bosch GmBH, TOKAIRIKA CO. LTD., VOXX International Corporation, U-Shin Ltd. (Minebea Mitsumi Inc.) and ZF Friedrichshafen AG.
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