Vehicle Anti-Theft Market Forecast To Grow At Highest CAGR From 2019 To 2023 By Growth, Size, Share, And Region

Vehicle Anti-Theft Market to Thrive Moderately at a Healthy CAGR during the Forecast Period 2019 to 2022. Market Research Future (MRFR)’s latest study reveals that the global vehicle anti-theft market is set to exhibit a substantial growth at a moderate pace over the forecast period 2016 to 2022. The technological advancements adopted by the vehicle anti-theft industry leaders is expected to catapult the market on an upward trajectory for the next few years.

Market Synopsis:

The boom witnessed in the automotive sector has a direct and a positive influence on the growth of the vehicle anti-theft market. The increasing demand for automobiles equipped with vehicle anti-theft technologies is projected to fuel demand for vehicle anti-theft security solutions through the assessment period.

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The shift witnessed towards electric cars has opened avenues of growth and innovation in the vehicle anti-theft market. This, in turn, has been anticipated to guide the growth trajectory of the global market. Furthermore, the initiatives undertaken by the governments for ensuring vehicle safety have helped to augment the market for vehicle anti-theft solutions. Vehicle anti-theft devices also help in reducing the rates of vehicle insurances. These are likely to continue influencing the market proliferation positively in the foreseeable future.

Some of the factors that are likely to favor the vehicle anti-theft market expansion over the projection period include increasing awareness about vehicle anti-theft products, increasing incidences of vehicle theft, technological developments of products, etc. Nevertheless, high production cost remains an impediment to the market growth.

Market Segmentation:

By product, vehicle anti-theft market has been segmented into immobilizer, steering lock, central locking, and alarm.

By technology, the global vehicle anti-theft market is segmented into GPS, GSM, RTLS, face detection system, and automotive biometric technology.

By vehicle type, the vehicle anti-theft market has been segmented into Passenger car, Commercial vehicle, and others.

Regional Analysis:

By region, the global vehicle anti-theft market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific holds the pole position currently and is expected to retain its dominance in the foreseeable future. The growth is attributable to the flourishing automotive sector. Increased production of vehicles in Asia Pacific coupled with rising consumption is the key factor driving the growth of the regional market.

North America is poised to exhibit significant growth through the review period owing to high purchasing power, technological advancements, and presence of key players. Europe is an important growth pocket and is prognosticated to remain a highly lucrative market for vehicle anti-theft solutions during the forecast period.

Competitive Dashboard:

Some of the key players profiled in the report are Continental AG, Tokai Rika, Ltd., Lear Corporation, Johnson Electric, Robert Bosch GmbH, Delphi Automotive LLP, Mitsubishi Electric Corporation, ZF-TRW, and VOXX International Corp.

Industry News:

In July 2018, the Police Department in Bakersfield, California, receive a grant for purchasing 255 vehicle anti-theft that will be made available to the public for free.

In September 2018, Japanese carmaker Toyota’s luxury vehicle arm, Lexus, launched the seventh generation ES 300h hybrid electric car. The car is equipped with an advanced vehicle anti-theft system.

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This release was published on openPR.