The Vehicle Anti-Theft System market is expected to expand rapidly between 2023 and 2032, owing to the increasingdeployment of cutting-edge technologies in automobiles. Increased player collaborations towards the implementation of more advanced features in automobiles characterise the industry perspective. Hyundai Motor Company of South Korea collaborated with its luxury car affiliate, Kia Corporation, in February 2023 to develop new theft deterrent software for both Hyundai and Kia vehicles that lacked an immobiliser.
Rising incidences of private automobile thefts around the world have spurred market demand for vehicle anti-theft systems in recent years. This requirement was highlighted during the COVID-19 lockdowns, when private and public fleet owners reported an increase in car thefts due to a lack of protection in their facilities. According to trustworthy figures, a motor vehicle theft happened every 39 seconds in the United States in 2020, with the country reporting more than three-quarters of a million car thefts that year.
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Based on the type of system, the market can be segmented into:
• Alarm systems
• Central locking systems
• GPS tracking systems
Based on the vehicle type, the market can be segmented into:
• Passenger vehicles
• Commercial vehicles
Based on the sales channel, the market can be segmented into:
• OEMs (Original Equipment Manufacturers)
Based on region, the market can be segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Robert Bosch GmbH
ZF Friedrichshafen AG
Mitsubishi Electric Corporation
Tokai Rika Co. Ltd.
VOXX International Corporation
North America: The North American market for vehicle anti-theft systems is expected to grow significantly due to the presence of major automotive manufacturers, high vehicle theft rates, and strict government regulations mandating the installation of anti-theft systems. The US is expected to dominate the market due to its large automotive industry and high vehicle theft rates.
Europe: The European market for vehicle anti-theft systems is expected to witness significant growth due to the increasing demand for advanced security features, strict government regulations, and the presence of major automotive manufacturers. The UK, Germany, France, and Italy are expected to be the major markets in this region.
Asia Pacific: The Asia Pacific region is expected to witness significant growth due to the increasing demand for vehicles and rising incidents of vehicle theft in countries such as India and China. The growing middle-class population and increasing purchasing power are expected to drive the demand for anti-theft systems in this region.
Latin America: The Latin American market for vehicle anti-theft systems is expected to witness moderate growth due to the increasing vehicle theft rates and rising demand for advanced security features. Brazil and Mexico are expected to be the major markets in this region.
Middle East and Africa: The Middle East and Africa region is expected to witness moderate growth due to the increasing demand for vehicles and rising incidents of vehicle theft. The presence of major automotive manufacturers and the growing adoption of advanced security features are expected to drive the demand for anti-theft systems in this region.
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