Significant Insights of Vehicle Anti-Theft System Market 2017 with Evolving Technologies, Size, Share, Growth Factors, and Forecast till 2021
Vehicle Anti-Theft System Market by Product (Steering Lock, Alarm, Biometric Capture Device, Immobilizer), Technology (GPS, GSM, RTLS), Vehicle Type (Passenger Car, Commercial Vehicle, Off-Highway Vehicle), and Region – Global Forecast to 2021, The Vehicle Anti-theft System market, in terms of value, is projected to grow at a CAGR of 6.92% from 2016 to 2021. The market is estimated to be USD 8.33 billion in 2016, and is projected to reach 11.64 billion by 2021. In this study, 2015 has been considered the base year, and 2016 to 2021 the forecast period, for estimating the market size of the vehicle anti-theft system market.
Key Players of Vehicle Anti-theft System market:
The ecosystem of the vehicle anti-theft system industry consists of manufacturers such as Robert Bosch GmbH (Germany), Continental AG (Germany), and Lear Corporation (U.S.), research institutes such as the Automotive Research Association of India (ARAI), European Automotive Research Partners Association (EARPA), and the United States Council for Automotive Research (USCAR), and regional automobile associations such as China Association of Automobile Manufacturers (CAAM), Japan Automobile Manufacturers Association (JAMA), and the European Automobile Manufacturers Association (ACEA).
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Immobilizers: A promising market due to stringent safety regulations
The immobilizer segment is estimated to hold the largest share in the Vehicle Anti-Theft System Market, by product. Mandatory installation of immobilizers has drastically reduced thefts in various countries. The growing demand for safety features as a result of government regulations has boosted the market for immobilizers.
Asia-Pacific: Largest market for vehicle anti-theft systems
Asia-Pacific is estimated to account for the largest share, in terms of value, of the Vehicle Anti-Theft System Market in 2016. The demand for anti-theft systems in this region is triggered by the growing population in urban areas. The automotive industry in Asia-Pacific has witnessed a year-on-year increase in sales. The region is also the leading producer of automobiles in the world.
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Face detection systems to hold the largest share in the Vehicle Anti-Theft System Market, by technology
The face detection system (FDS) segment is estimated to account for the largest share in the Vehicle Anti-Theft System Market. FDS is currently being incorporated in vehicles to prevent drunk driving. The system is used to monitor the driver’s state of consciousness through eye movement. It also identifies an authorized vehicle-user based on a facial recognition system. Additionally, the vehicle immobilizer system sends a message to the registered phone number of the vehicle-user in case of any discrepancy. These features are increasing the demand for this technology.