Vehicle Anti-Theft System Market - Global Industry Analysis, Growth, Trends, Forecast Upto 2024

An anti-theft system is a technology or a device employed to deter or prevent the unauthorized access of valuable items. Anti-theft systems have evolved from the invention of lock and key to the introduction of biometric identification systems. The choice of an anti-theft system depends on various factors such as financial costs, ease of use, and threshold for theft. Security of vehicles, especially in common parking places has become a matter of concern in recent times. Vehicle theft has skyrocketed to monumental proportions in recent years, and many injuries can be attributed to accidents involving stolen vehicles. One of the reasons for the increasing theft rate is the ease to tamper the existing vehicles locks. Anti-theft devices add to the security of vehicles and may also lower vehicle insurance rates. Products under the anti-theft devices category have a wide range of features and purposes.

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Some basic devices disable the vehicle, while others provide advanced protection like stolen vehicle tracking, interior intrusion detection, battery backed sounders, inclination sensing devices, etc. Modern vehicle anti-theft devices use advanced technologies such as microprocessors with digital signal processing, continuous-wave and pulse-echo algorithms, inclination and ultrasonic sensors, rechargeable batteries, and closed tool chain for configuration and simulation.

The increasing sale of vehicles, rising awareness regarding vehicle anti-theft devices, increase in the number of vehicle thefts, and mandatory government regulations related to vehicle safety are the major factors driving the growth of the vehicle anti-theft systems market. Technological advancements in vehicle anti-theft devices are driven by the need for features increasing the safety and convenience of vehicle passengers. These advancements have resulted in advanced systems such as vehicle immobilizers, which send messages on the registered phone numbers of vehicle owners in cases of forced entry. The messages also include additional information such as image of the person driving the vehicle and the location of the vehicle. Facial recognition systems are gaining increasing popularity amongst vehicle anti-theft systems. However, the high costs associated with vehicle anti-theft systems pose challenges in the growth of this market.

The vehicle anti-theft systems market is segmented by technology, by product, by type of vehicle, and by geography. By technology, the market can be further segmented into real-time location system (RTLS), global positioning system (GPS), and global system for mobile communication (GSM). By product, the market can be further categorized into immobilizer, steering lock, biometric capture device, and alarm. By type of vehicle, the market can be divided into off-highway vehicle, passenger car, and commercial vehicle. Geographically, the market can be divided into North America, South America, Asia-Pacific, Middle East and Africa, and Europe. Asia-Pacific region is anticipated to be a potential market for vehicle anti-theft systems in the coming years. The demand in this region is triggered by the rapid growth of the automotive industry and growing population in urban areas.

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The key players operating in the vehicle anti-theft systems market include Continental AG, Lear Corporation, Robert Bosch GmbH, Tokai Rika, Ltd., Johnson Electric, Delphi Automotive LLP, ZF TRW, Mitsubishi Electric Corporation, VOXX International Corp, and U-Shin, Ltd.

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