The Global Vehicle Anti-Theft System Market size is expected to reach $20.4 billion by 2028, rising at a market growth of 6.7% CAGR during the forecast period.
Automobile owners respect their possessions. Nonetheless, automobile theft is prevalent in the majority of countries worldwide. Manufacturers employ several techniques to prevent theft. An anti-theft device is a sort of device that aids in preventing vehicle theft through automatic or manual means. Several technologies can be utilized to attain objectives. There are numerous anti-theft devices on the market, including alarm systems and GPS tracking.
These technologies reduce the likelihood of auto theft by bolstering the security system. Vehicle anti-theft system market prospects are subsequently created by technological advances in anti-theft systems, such as real-time vehicle tracking systems and Ultra-Wideband (UWB) technology. In addition, many automobiles come equipped with immobilizers that provide protection via the ignition system. Manufacturer immobilizers operate through the vehicle's ECU/ECM (computers).
The need for the vehicle anti-theft system market is strongly driven by automotive production & sales since the vehicle anti-theft system is one of the most important safety components of modern automobiles. In addition, modern automobiles and automotive OEMs increasingly rely on intelligent technology to meet the varying needs of end users, contributing to the expansion of the market. Therefore, the deployment of smart technology for vehicle security and enhanced convenience, as well as product development in response to shifting demand patterns, are projected to boost the vehicle anti-theft system market.
Existing automobiles installed with vehicle anti-theft systems are anticipated to directly impact the demand for anti-theft systems as a whole. In addition, due to an improvement in vehicle safety and security, a boost in the adoption of electric vehicles is also expected to boost the expansion of vehicle anti-theft systems in the upcoming years. Leading technology solution providers prioritize organic growth tactics, such as expansion efforts to obtain a competitive edge and develop high-end technology-enabled products worldwide.
Numerous automakers were obliged to omit high-end equipment such as navigation systems and digital odometers because of a lack of processors. In addition, there was no labor available because of social norms of separation and other constraints. The pandemic had a detrimental influence on the vehicle anti-theft systems market, an emerging market in vehicle security. In addition, an increase in car theft was seen during periods of lockdown. Hence, post-pandemic demand for improved vehicle anti-theft systems will propel the expansion of vehicle anti-theft systems.
The adoption of safety and security requirements for auto manufacturing in developing nations like India is anticipated to increase demand for passive keyless entry systems and automotive keyless entry systems. For the market players in these regions, this is anticipated to present a lucrative opportunity during the projection period. In addition, the adoption of various systems, including immobilizers, alarm systems, and other vehicle anti-theft systems, in contemporary automobiles is anticipated to increase sales in the vehicle anti-theft system market.
It is anticipated that the development of multi-modal technologies that iris, scan fingerprint, and facial recognition to prohibit the entry of unauthorized individuals into vehicles would provide additional fuel to the growth of the vehicle anti-theft system market. In addition, prominent businesses are progressively undertaking various research initiatives to create keyless auto technology to minimize the danger of vehicle theft due to counterfeit keys, which is expected to provide additional impetus to the market's growth over the forecast period.
The market for vehicle anti-theft systems is anticipated to be driven by the increased need for operating efficiency, a rise in concern for vehicle safety, high-end technology-enabled vehicle safety, and effective access operation capability. Moreover, the anti-theft technology can be applied to both passenger and commercial vehicles in order to meet increased safety standards. To regulate the operations, the keyless entry system is integrated with various cutting-edge technologies, including a Bluetooth system, operating software, sensors, and electronic control panels.
Based on product, the vehicle anti-theft system market is segmented into alarm, biometric capture device, passive keyless entry, central locking system, immobilizer, and steering lock. In 2021, the central locking system segment procured a promising revenue share in the vehicle anti-theft system market. The majority of cars come equipped with a central locking mechanism, which is a convenience. Typically, turning a switch within the car allows drivers to lock and unlock all their doors from a single location. Also, it is a security system that simultaneously secures all of the car's doors. A manual or remote control key fob is typically used to power it.
On the basis of technology, the vehicle anti-theft system market is categorized into real-time location systems, automotive biometric technologies, global positioning system, remote frequency identification device and others. The remote frequency identification device segment dominated the vehicle anti-theft system market with the maximum revenue share in 2021. The automobile sector is fast using radio frequency identification (RFID) for manufacturing and combining it with other automotive technology. The demand for premium vehicles, which drives the RFID technology use for automobiles, is primarily driven by the increase in per capita income and the growth of buy power equality.
By sales channel, the vehicle anti-theft system market is classified into OEM and aftermarket. The OEMs segment witnessed the largest revenue share in the vehicle anti-theft system market in 2021. By integrating key fobs with cell phones, manufacturers aim to improve their capabilities. In addition, a linked immobilizer system will offer a higher level of security. The market for vehicle anti-theft systems will thus see increased growth opportunities.
On the basis of vehicle type, the vehicle anti-theft system market is bifurcated into passenger cars and commercial vehicles. In 2021, the commercial segment acquired a substantial revenue share in the vehicle anti-theft system market. This is a result of the rising truck and bus demand. In addition, as businesses use fleet management solutions to streamline their operations, the market is also seeing growth in the number of commercial vehicles. Depending on the availability of local laws & regulations relevant especially to the national basis concerning type approval requirements, immobilizers may be fitted as original equipment (OE) or aftermarket.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 13.1 Billion |
| Market size forecast in 2028 | USD 20.4 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 6.7% from 2022 to 2028 |
| Number of Pages | 291 |
| Number of Table | 472 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Technology, Vehicle Type, Sales Channel, Product, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the vehicle anti-theft system market is analyzed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific region led the vehicle anti-theft system market by generating the highest revenue share in 2021. The substantial market potential in this area can be attributed to major automakers like Nissan, Suzuki, Hyundai, and others, as well as rising investments in the sector. Other variables that influence vehicle anti-theft system shipments in the Asia Pacific include encouraging government activities, increasing vehicle thefts, implementing strict legislation requiring anti-theft systems, and rising sales of passenger automobiles.
Free Valuable Insights: Global Vehicle Anti-Theft System Market size to reach USD 20.4 Billion by 2028
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Continental AG, Denso Corporation and Robert Bosch GmbH are the forerunners in the Vehicle Anti-Theft System Market. Companies such as Aptiv, PLC, Valeo S.A and HELLA GmbH & Co. KGaA are some of the key innovators in Vehicle Anti-Theft System Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Continental AG, Robert Bosch GmbH, HELLA GmbH & Co. KGaA, Valeo SA, Denso Corporation, Aptiv PLC, Tokai Rika Co., Ltd., Stoneridge, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG (Huf Holding Gmbh & Co. KG), and Marquardt Group.
By Technology
By Vehicle Type
By Sales Channel
By Product
By Geography
The global Vehicle Anti-Theft System Market size is expected to reach $20.4 billion by 2028.
Acceptance of smart technologies for vehicle safety are driving the market in coming years, however, Anti-theft systems are expensive restraints the growth of the market.
Continental AG, Robert Bosch GmbH, HELLA GmbH & Co. KGaA, Valeo SA, Denso Corporation, Aptiv PLC, Tokai Rika Co., Ltd., Stoneridge, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG (Huf Holding Gmbh & Co. KG), and Marquardt Group.
The Passenger Cars segment acquired maximum revenue share in the Global Vehicle Anti-Theft System Market by Vehicle Type in 2021 thereby, achieving a market value of $15.3 billion by 2028.
The Alarm segment is leading the Global Vehicle Anti-Theft System Market by Product in 2021 thereby, achieving a market value of $5.6 billion by 2028.
The Asia Pacific market dominated the Global Vehicle Anti-Theft System Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.7 billion by 2028.
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