Vehicle Security System Market Size, Growth, Trends, Outlook Report 2033

The new report published by The Business Research Company, titled ""Vehicle Security System Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the vehicle security system market size has grown strongly in recent years. It will grow from $9.26 billion in 2023 to $10.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The vehicle security system market size is expected to see strong growth in the next few years. It will grow to $13.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.

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The Vehicle Security System Market Amidst Rising Cyberattacks
The increasing cyberattacks are expected to propel the growth of the vehicle security system market going forward. A cyberattack is a deliberate attempt by an individual or organization to breach the information system of another individual or organization. As automotive innovation grows, cybersecurity evolves as a real concern. Automotive vehicle security system secures electronic systems, communication networks, software, and data collected by the new wave of intelligent cars from harm. If a vehicle's computer systems aren't protected properly, hackers can steal data or even take control of the vehicle. For instance, according to Automotive Cybersecurity Report 2021 published by Upstream, an Israel-based automotive cybersecurity company, the frequency of cyberattacks on cars increased 225% from 2018 to 2021 and 85% of the attacks in 2021 were carried out remotely. Therefore, the increasing cyberattacks drive the growth of the vehicle security systems market.

Technological Advancements In The Vehicle Security System Market
Technological advancements have emerged as a key trend gaining popularity in the vehicle security system market. Major companies operating in the vehicle security system sector are focused on developing new technological solutions to reinforce their position. For instance, in January 2022, Ford, a US-based automobile manufacturer, and ADT Security Services, a US-based security company announced a $100 million standalone joint venture called Canopy to help prevent theft from vehicles using sensors and AI. According to the companies, by 2023, Canopy will initially provide an after-market security product for customers to install a camera in a cargo vehicle or pickup that faces back and relies on AI to identify and report credible threats and trigger an alarm when signs and sounds of metal cutting or breaking glass or suspicious sounds or motion near a vehicle are detected. The joint venture's and technology's principal goal is to prevent vehicle theft before it happens.

The vehicle security system market covered in this report is segmented -

1) By Product Type: Immobilizers, Alarm System, Tracking System, Central Locking System, Remote Keyless Entry and Other Product Types
2) By Technology: Global Positioning System, Global System for Mobile Communication, Face Detection System, Real-Time Location System and Other Technologies
3) By Vehicle Type: Passenger Car, Commercial Vehicles and Other Vehicle Types

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Major companies operating in the vehicle security system market report are Continental AG, Delphi Technologies, Denso Corporation, Hella Kgaa Hueck & Co, Lear Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Tokairika Co. Ltd., Valeo SA, TRW Automotive India Private Limited, ZF Friedrichshafen AG, Aptiv plc, Omron Corporation, Clifford, Viper Security Systems, Stoneridge Inc., Marquardt GmbH, I Car Systems, NXP Semiconductors Inc., Panasonic Corporation, Autoliv Inc., Johnson Controls Inc., Magna International Inc., Mobileye NV, WABCO Vehicle Control Systems, Gentex Corporation, Nippon Seiki Co. Ltd., Visteon Corporation, Harman International Industries Inc., TomTom International BV

Contents of the report:
1. Executive Summary
2. Vehicle Security System Market Report Structure
3. Vehicle Security System Market Trends And Strategies
4. Vehicle Security System Market - Macro Economic Scenario
5. Vehicle Security System Market Size And Growth
…..
27. Vehicle Security System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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