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Vehicle Security System Market: An Insight On the Important Factors and Trends Influencing the Market

12-05-2017 12:18 PM CET | Logistics & Transport

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
The global vehicle security system market is projected to grow at a robust pace between 2016 and 2024. Globally, the demand for hybrid vehicles has risen considerably, boosting vehicle manufacturing worldwide. Due to increase in the sales and production of vehicles, instances of hijacking and car theft have also increased. This, in turn, is fuelling the demand for vehicle security systems.

Vehicle security systems such as alarms, central locking, remote keyless entry, passive entry systems, and immobilizers are designed to protect cars from hijacking or theft. Recent technologies such as RFID, GPS, and RTLS have also come to into use for tracking down stolen cars.

Regionally, Asia Pacific has been showing attractive opportunities for the market, trailed by North America and Europe. Growing awareness about vehicle safety and the increasing installation of state-of-the-art safety gadgets in vehicles have been driving the global vehicle security system market.

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The report provides a comprehensive overview of the global vehicle security system market. It covers the prevailing trends influencing the market and its growth prospects between 2016 and 2024. Revenue generated from the sale of vehicles across various categories has been considered in order to calculate the market’s size.

Global Vehicle Security System Market: Opportunities and Market Segmentation

Based on vehicle type, the global vehicle security system market can be segmented into commercial vehicles, passenger vehicles, and off-highway vehicles. On the basis of product type, the market is expected to witness increasing demand for immobilizers and remote keyless entry. In terms of technology, the market can be segmented into global positioning systems, real-time location systems, face detection systems, and GPS. Of these, the demand for face detection and face positioning systems is expected to increase at a robust pace.

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Regionally, Asia Pacific is expected to emerge as the leading segment. The expansion of the automotive industry in China is expected to drive the Asia Pacific market for vehicle security systems. Despite witnessing robust growth around the world, the high cost of premium security features will restrain its growth to an extent.

Global Vehicle Security System Market: Competitive Insight

To study the competition prevailing in the market, the report also profiles companies such as Robert Bosch GmbH, Delphi Automotive, and Mitsubishi Electric. The products offered by these companies are driver assistance systems and components mainly for passenger and commercial vehicles.

Using SWOT analysis, the report weighs out strengths and weaknesses of the companies profiled. The analysis also provides insights into the opportunities and threats that these companies could witness in the near future.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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