Press release
Global Passenger Car Security Systems Market To Be Driven By Growth In Biometric Technology In The Forecast Period Of 2021-2026
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 3%
The industry is being driven by the advancement of biometric technology. The market in the Asia Pacific region is predicted to increase significantly due to the growing automotive industries in India and China.
Industry Definition and Major Segments
Vehicles are equipped with passenger car security systems to safeguard them from theft and unauthorized access to the vehicle's systems.
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On the basis of type, the market covers:
• Immobiliser
• Central Lock System
• Alarm System
• RKE
• Others
Based on application, the market is segmented into:
• OEM
• Aftermarket
The major regional markets include:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Market Trends
The worldwide passenger car security systems market is being driven by improvements in IoT technology. The sector is being aided even further by the growing acceptance of linked cars. Another element driving the industry's rise is the availability of immobilisers as standard equipment in automobiles.
Because of the introduction of government measures to prevent vehicle theft, the immobiliser segment is experiencing tremendous expansion in terms of varieties. As a result of the increased risk of car theft in emerging countries like as India and China, Asia Pacific is predicted to hold the greatest market share.
Key Market Players
The major players in the market are Continental AG, Hella GmbH & Co. KGaA, Tokai Rika Co. Ltd, Valeo SA (EPA: FR), Robert Bosch GmbH, ZF Friedrichshafen AG, Delphi Technologies Ltd. (NYSE: DLPH), Mitsubishi Electric Corporation, Denso Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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