The increasing use of GPS tracking and real-time monitoring is driving growth

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Car security systems market

Car security systems market

Dublin, Oct. 21, 2024 (GLOBE NEWSWIRE) — The report “Passenger Car Security Systems – Global Strategic Business Report” has been supplemented ResearchAndMarkets.com Offer.

The global passenger car security system market was valued at $7.2 billion in 2023 and is expected to reach $8.1 billion by 2030, growing at a CAGR of 1.7% from 2023 to 2030. This comprehensive report provides in-depth market analysis trends, drivers and forecasts to help you make informed business decisions.

The growth of the passenger vehicle security systems market is driven by several factors reflecting changes in consumer behavior, technological innovations and the evolving threat landscape. One of the main reasons is the increasing global concern about car theft and vandalism, which has led consumers to prioritize safety features when purchasing new vehicles. As urbanization continues to increase and vehicles are often parked in public or unsecured spaces, the demand for advanced security systems that can provide better protection against theft is increasing.

Additionally, the rise of car-sharing services and the shift toward shared mobility have further increased the need for robust security systems as vehicles are now shared by multiple users, making them more vulnerable to misuse or theft. Technological advancements are also driving the market's growth, with features such as keyless entry, remote monitoring and AI-driven monitoring becoming increasingly popular. Consumers are attracted to the convenience and increased safety of these technologies, particularly the ability to remotely control and monitor their vehicles via smartphones.

Additionally, the integration of these systems into electric and autonomous vehicles is driving innovation as the need for sophisticated security measures to protect the electronic systems and software of these high-tech vehicles becomes increasingly important. Cybersecurity is emerging as a key growth driver as the rise of connected and autonomous vehicles brings new risks of hacking and digital theft. This has led to the development of specialized security solutions aimed at protecting the digital infrastructure of modern vehicles. Additionally, regulatory pressure and insurance incentives are contributing to market growth. In many countries, governments are introducing stricter regulations requiring the installation of certain safety features in vehicles, such as immobilizers and anti-theft devices, in an attempt to reduce crime rates.

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Likewise, insurance companies offer lower premiums for vehicles equipped with advanced safety systems, encouraging consumers to invest in these technologies. As consumers become more aware of the financial and safety benefits of vehicle security systems, demand for these features continues to increase. Overall, these factors are driving the rapid expansion of the passenger car security systems market, with future growth likely to be driven by continued innovation in both physical and digital security technologies.

Key Takeaways:

• Market Growth: Understand the significant growth trajectory of the immobilizer segment, which is expected to reach $3.5 billion by 2030, at a compound annual growth rate of 2.9%. The Central Lock Systems segment is also expected to grow at a CAGR of 1.4% during the analysis period.

• Regional Analysis: Get insights into the US market, estimated at $2.0 billion in 2023, and China, which will see impressive 3.9% annual growth to $1.6 billion by 2030. Dollar is forecast. Discover growth trends in other key regions including Japan, Canada, Germany, and Asia Pacific.

Reporting features:

• Comprehensive market data: Independent analysis of annual sales and market forecasts in millions of US dollars from 2023 to 2030.

• Detailed Regional Analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, Latin America, the Middle East and Africa.

• Company Profiles: Coverage of key players such as Alps Alpine Co., Ltd., Aptiv PLC, Bosch Mobility Solutions and more.

• Free Updates: Receive one year of free report updates to keep you up to date on the latest market developments.

Key questions answered:

• How is the global car security systems market expected to develop by 2030?

• What are the key drivers and restraints affecting the market?

• Which market segments will grow the most during the forecast period?

• How will the market shares of different regions and segments change by 2030?

• Who are the leading players in the market and what are their prospects?

Key attributes:

Report attribute	Details
Number of pages	279
Forecast period	2023 – 2030
Estimated market value (USD) in 2023	$7.2 billion
Projected market value (USD) by 2030	$8.1 billion
Compound annual growth rate	1.7%
Regions covered	Global

Main topics covered:

MARKET OVERVIEW

• Insights into the influencer market

• Car safety systems – Percentage market share of global main competitors in 2024 (E)

• Competitive market presence – strong/active/niche/trivial for players worldwide in 2024 (E)

Market trends and drivers

• Rising vehicle theft rates are driving growth in the car security system market

• Increasing focus on vehicle safety is expanding the addressable market for advanced safety systems in passenger vehicles

• Technological advances in biometric and keyless entry systems are driving innovation in vehicle security

• The growing demand for connected and intelligent vehicles strengthens the business model for integrated security systems

• The increasing adoption of anti-theft and immobilizer technologies is driving growth in passenger vehicle security solutions

• The shift toward autonomous vehicles is putting the spotlight on improved security features to prevent cyberattacks

• The increasing use of GPS tracking and real-time monitoring is driving growth in vehicle recovery and security solutions

• Innovations in alarm systems and motion sensors increase precision and effectiveness in vehicle security

• Focus on preventing auto theft and vandalism expands opportunities for enhanced security features

Focus on selected players (Total 39 featured)

• Alpen Alpine Co., Ltd.

• Aptiv PLC

• Bosch mobility solutions

• Continental Automotive Technologies GmbH

• Denso Corporation

• Huf Hulsbeck & Furst GmbH & Co. KG

• Infineon Technologies AG

• Meta System SpA

• Mitsubishi Electric US, Inc.

• Raise Group Ltd.

For more information about this report, visit https://www.researchandmarkets.com/r/59ir0d

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