With alarming instances of vehicle thefts across the globe, the demand for vehicle anti-theft system has been undergoing a sea change. Fortifications in the vehicle anti-theft systems have further encouraged integration of smartphones & smartwatches, thereby influencing dynamics of the vehicle anti-theft system market. Moreover, exclusive features such as GPS-tracking and fuel-oriented updates are pushing adoption of vehicle anti-theft systems. To enlighten readers about stellar business opportunities in the industry, Fact.MR compiled a research study on vehicle anti-theft system market for the forecast period of 2017 to 2022. The report opines the global vehicle anti-theft system market to touch a valuation of US$ 9,670.5 Mn by 2022-end.
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OEMs in the vehicle anti-theft system market are incessantly working toward expansion of technical centers and multiplying their production rates to furnish the overwhelming demand. Rising emphasis on extensive R&D activities by a huge number of companies is also empowering the potential of vehicle anti-theft system market. Automotive giants such as Porsche had introduced an exclusive anti-theft protection system for all of its classic models. This system offers an autonomous sensor package, which can be installed at concealed points on the vehicles. Fine-tuned versions of this system are likely to be suitable for installation in all Porsche classic vehicles from 356 to Carrera GT.
Incorporation of cutting-edge breakthroughs such as microprocessors with digital signal processing, continuous-wave and pulse-echo algorithms, closed toolchain for configuration and simulation, and so on are providing the much-need fillip to vehicle anti-theft system market. Rapid upturn in demand for multifactor authentication and increasing reliability on biometric technology is envisioned to diversify the growth of vehicle anti-theft system market. Emerging technologies such as personal alarm pagers are gaining grounds in the vehicle anti-theft system market, which send alerts directly to the driver’s mobile phone whenever the vehicle is subjected to unauthorized access. Besides, governmental regulations with regard to vehicle safety across various regions are also spurring revenues of vehicle anti-theft system market.
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Immobilizers are evolving as one of the most intelligent vehicle anti-theft systems. Majority of automobile companies in the USA are adopting this system on the backdrop of its unmatched ability to safeguard an automobile. Immobilizer systems are predicted to account for the largest chunk of revenue in the vehicle anti-theft system market by 2022-end. Central locking anti-theft systems are anticipated to witness exponential growth in the vehicle anti-theft system market. The revenue amassed from sales of steering locks is foreseen to outpace biometric capture devices. Vehicle anti-theft system market is predicted to affluent adoption in passenger cars. Revenues procured from vehicle anti-theft systems sold in passenger cars is likely to account for nearly 3/4th share of the vehicle anti-theft system market.
Despite manufacturers in the vehicle anti-theft system market going an extra mile in ensuring end-to-end security systems, high-tech criminals seem to have keys for all of these sophisticated efforts. Transmitter ‘relay’ attacks or hacks have emerged as frequently practiced malicious techniques. Manufacturers in the vehicle anti-theft system market are all set to develop tight specifications to combat against such malicious efforts. The sales of vehicle anti-theft systems in North America is foreseen to register the fastest growth through 2022. However, the Europe vehicle anti-theft system market is likely to sustain its lucrativeness than the North America vehicle anti-theft system market during the forecast period.
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Some of the key players operating in the vehicle anti-theft system market include Denso Corporation, Continental AG, OMRON Corporation, Robert Bosch GmbH, ZF TRW Automotive Holdings Corporation, Delphi Automotive Plc, TOKAI RIKA, CO, LTD., Mitsubishi Electric Corporation, VOXX International Corporation, Lear Corporation, and HELLA KGaA Hueck & Co.