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Remote Car Starter Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Mitsubishi Corporation, ZF Friedrichshafen AG, Denso Corporation, Honeywell International Inc.
Remote Car Starter Market Characteristics
The Business Research Company offers in-depth market insights through Remote Car Starter Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The remote car starter market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to consumer convenience, climate control, security concerns, aftermarket installations.
The remote car starter market size is expected to see strong growth in the next few years. It will grow to $2.4 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to integration with oem systems, smartphone connectivity, energy efficiency, customization options, safety features.. Major trends in the forecast period include development of extended range technologies, integration with vehicle climate control systems, adoption of voice-activated controls, enhancement of security features, integration of mobile app connectivity..
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Market Segmentation:
The main types of remote car starters are one-way remote starters, two-way remote starters, and one-button remote starters. A one-way remote starter is a system that allows the user to start their vehicle's engine remotely using a remote control or key fob. The various technologies include radiofrequency (rf), and smartphone app-based systems. The various vehicles include passenger cars, light commercial vehicles, and heavy commercial vehicles that are sold through various sales channels such as original equipment market (OEM), and aftermarket and are used by various end users such as individual consumers, fleet owners, and commercial vehicles.
Major Driver - Remote Car Starters Thrive With Soaring Demand For Luxury And Premium Vehicles
The increasing demand for luxury and premium vehicles is expected to propel the growth of the remote car starter market going forward. Luxury and premium vehicles are categories of automobiles that are distinguished by their higher quality, advanced features, superior performance, and elevated levels of comfort, craftsmanship, and exclusivity. Remote car starters are often integrated into luxury and premium vehicles to provide their discerning owners with the added convenience of remotely starting the engine and preconditioning the cabin, ensuring a comfortable and inviting driving experience. For instance, in January 2023, according to a report released by Rolls Royce, a UK-based luxury vehicle manufacturer, the sales of Rolls Royce luxury cars increased from 5,586 in 2021 to 6,021 in 2022. Furthermore, in December 2022, according to Cox Automotive, a US-based automobile company, with an increase to 18.2% of overall sales in November from 17.8% in October, the share of luxury vehicles would still be historically high. Therefore, the growing demand for luxury and premium vehicles is driving the growth of the remote car starter market.
Competitive Landscape:
Major companies operating in the remote car starter market report are Mitsubishi Corporation, ZF Friedrichshafen AG, Denso Corporation, Honeywell International Inc., Faurecia SE and HELLA GmbH & Co. KGaA, Ericsson International Services B.V., Tyco International plc, BorgWarner Inc., Alps Electric, Microchip Technology Inc., Tokai Rika Co. Ltd., Digitec Galaxus AG, Voxx International Corp., VOXX DEI LLC., Spectra Premium, Metra Electronics Corporation, MyCar, Clarion, Start-X, Firstech LLC, Fortin Electronic Systems, Clima*x, ProStart, Valet Pro Limited, Omega Web Link, iDatastart, WarmCarNow
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Top Trend - Increasing Focus On Technological Advancements To Drive The Revenues In The Market
Major companies operating in the market are focusing on technological progress and innovation in remote car starters to drive the revenues in the market. Ultra-wideband (UWB) technology is a wireless communication method that uses extremely wide bandwidths, and it is utilized in remote car starters to enable precise and secure keyless entry and ignition systems, enhancing vehicle security and user convenience. For instance, in January 2021, Bayerische Motoren Werke (BMW) AG, a Germany-based automobile company, introduced the BMW Digital Key Plus, a secure and convenient way to unlock and start a car without taking out an Apple iPhone from the pocket. This latest version of the service is based on ultra-wideband (UWB) technology, which is found on the U1 chip of the iPhone. The UWB technology automatically recognize its distance from the vehicle, initiating desired actions like turning on the car's lights and unlocking the car before reaching the door handle.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Remote Car Starter Market Characteristics
3. Remote Car Starter Market Trends And Strategies
4. Remote Car Starter Market - Macro Economic Scenario
5. Remote Car Starter Market Size And Growth
…..
27. Remote Car Starter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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