|02-11-2019 03:02 PM CET - Energy & Environment||
Remote Vehicle Shutdown Market Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast to 2023
Press release from: Market Research Future
The rise in vehicle and cargo thefts, has elicited the need of automated systems, which helps in securing the vehicle or the cargo. Despite being equipped with security systems, such as complex electronics and alarm systems; the transportation industry is witnessing huge losses due to the thefts and thus, is at a vulnerable state. Remote immobilization proves to be a feasible solution to prevent vehicle theft and helps in retrieving valuable goods and cargoes from stolen vehicles.
Remote shutdown device helps prevent possible hijacking and thefts, by burglars. Remote shutdown devices have systems, connecting the car with a possible manual or automated operator through satellite and wireless connections. The device is mainly connected with the car through the central circuit; by a transmitter and receiver, which receives signal, either to reduce the speed of the vehicle or to shutoff the engine entirely. The usage of such devices can be found in the U.S, where subprime auto loans are given by lenders. Thus, lenders use this technology to disable ignition of a car when a borrower fails to repay. Moreover the police department also use remote vehicle shutdown technology to remotely halt high speed hunts and to find stolen cars.
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The global remote vehicle shutdown is expected to grow at a CAGR of ~ 8% during the forecast period.
Market Research Analysis
Commercial vehicle type, expected to grow at the highest CAGR
Commercial vehicle type will dominate the remote vehicle shutdown market. The significant rise in theft of vehicles and cargos, with the development of multibillion dollar logistics and transportation industry, will be the major driver for the growth of commercial vehicle in remote vehicle shutdown market. Also, information and awareness for prevention of the vehicle theft and reclaiming valuable goods and cargos from stolen vehicles, will add to the segment growth during the forecast period.
Scope of the Report
This study provides an overview of the global remote vehicle shutdown market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global small wind power market by its system, by vehicle type and by region.
By Vehicle Type
Rest of the World
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The key players of global remote vehicle shutdown market are PassTime GPS (U.S), OnStar Corporation (U.S), Cobra Car Tech Ltd (U.K), Sonic Electronix,Inc (U.S), LoJack Corporation (U.S), TracknStop (Ireland), The Tracker (South Africa), Fleetsmart (U.K), Frotcom International (Portugal) and EMCO Software (Iceland).
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This release was published on openPR.
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