Stolen Vehicle Recovery Systems Market to Witness Rise in Revenues By 2030
According to the Market Statsville Group (MSG), the global stolen vehicle recovery systems market size is expected to grow from USD 12,304.8 million in 2021 to USD 23,005.3 million by 2030, at a CAGR of 7.2% from 2022 to 2030. The stolen vehicle security system effectively eradicates the chances of vehicle theft with the help of various components, such as a remote keyless entry system, central locking system, automatic collision detection system, and ultrasonic intruder protection system (UIP).
In addition, an increasing level of spending by individual end-users on automotive telematics, especially in the Asia-Pacific region, and greater awareness of more recent technologies contribute to the growth of the stolen vehicle tracking system market.
Global Stolen Vehicle Recovery Systems Market Definition
A stolen vehicle recovery device is an anti-theft device that enables users to locate their vehicle if it is lost. The device itself doesn't prevent the user's car from being stolen. However, it can help clients recover it safely if it falls into the wrong hands.
Radiofrequency technology embedded in vehicle recovery systems helps law enforcement officers to locate and recover the vehicle. When users report a car theft to the police, special computers send radio signals to the stolen vehicle. These radio signals will activate the car's vehicle recovery system and send the location to police computers, making it easier to recover the vehicle.
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Scope of the Global Stolen Vehicle Recovery Systems Market
The study categorizes the Stolen Vehicle Recovery Systems market based on component, vehicle, and technology at the regional and global levels.
By Component (Revenue, USD Million, 2017-2030)
Ultrasonic Intruder Protection System (UIP)
Backup Battery Siren (BBS)
Central Locking System
Automatic Collision Detection System
Automatic Driver Recognition System (ADRS)
Remote Keyless Entry System
By Vehicle type (Revenue, USD Million, 2017-2030)
By Technology (Revenue, USD Million, 2017-2030)
Radio Frequency Identification
By Region Outlook (Revenue, USD Million, 2017-2030)
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of South America
The Middle East & Africa
Rest of MEA
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The radiofrequency Identification segment is witnessed to account for the highest market share by technology
Based on the technology, the global stolen vehicle recovery systems market is divided into ultrasonic, radio frequency identification (RFID), and others. In 2021, the radio frequency identification segment accounted for the highest market share in the market. RFID is a wireless technology consisting tags and readers. The reader emits radio waves and receives signals from the RFID tag via one or more antennas. A radio frequency signal activates the vehicle as a key sensor. When the tag sensor detects that a driver does not have permission to operate the vehicle, it locks the vehicle. Thus, RFID is suitable and highly in demand for vehicle safety applications due to its wide range.
Asia-pacific accounts for the highest CAGR during the forecast period
Globally, Asia-pacific is estimated to hold the highest CAGR in the global stolen vehicle recovery systems market during the forthcoming period, owing to the growing automotive prodution facilities in the region. There is an increase in demand in the forecast period for automobiles, particularly in China and India.
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Key Market Players in the Global Stolen Vehicle Recovery Systems Market
HELLA GmbH & Co.
KGaA, Robert Bosch GmbH,
Mitsubishi Electric Corporation,
ALPS Alpine Co., Ltd.
Tokairika, Co., Ltd.
416, East standsberry street,
Perkins, Oklahoma 74059, US
USA: +1-580-205-2707 | India: +91-702-496-8807
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