Global Vehicle Anti-Theft Systems Market: Overview
There has been a rapid rise in the occurrences of vehicle theft. To combat this, there is a rise in the uptake of vehicle anti-theft systems globally. Factors affecting the uptake include ease of use and financial costs. Through these systems, tracking of the lost vehicle, detection of intrusion and sensing devices can be attached to the vehicle in order to secure them. Increasing production of automobiles of different kinds is boosting the vehicle anti-theft system market growth for vehicle anti-theft system market.
Global Vehicle Anti-Theft Systems Market: Segmentation
The global vehicle anti-theft system market is segmented into its product type, technology, vehicle type, and geography. On the basis of product type, the market is divided into alarm, steering lock, immobilizer, biometric capture device, central locking and remote keyless entry. Based on technology, the market is segregated into the global system for communication (GSM), global positioning system (GPS), global radio frequency identification, face detection system, automotive biometric technology and real-time location system (RTLS). On the basis of vehicle type, the vehicle anti-theft system market is classified into the commercial vehicle, passenger car, off-highway vehicle. Diversification of the global market based on region is seen into North America, Asia-Pacific, Europe, Latin America and the Middle East and Africa.
Global Vehicle Anti-Theft Systems Market: Growth Factors
The global vehicle anti-theft system market is a growing market. Major factors contributing towards this growth are a massive increase in the number of vehicles of different kinds, rising awareness about vehicle anti-theft devices, government regulations pertaining to vehicle safety and increasing development made in technology. In addition, increasing instances of theft in parking lots have necessitated the use of advanced anti-theft mechanisms for vehicle and passenger security and safety. The immobilizer system and the face detection system are the different sectors showing major growth in the vehicle anti-theft system market.
Global Vehicle Anti-Theft Systems Market: Regional Analysis
The largest market share in the vehicle anti-theft system market is held by Asia Pacific. Major countries contributing towards this growth are India, China, Australia, Japan and New Zealand. The growth of Asia-Pacific can be contributed to reasons such as rising population and increasing production of automobiles in this region. Asia-Pacific will continue to dominate the global market in the coming periods as well. Following the growth in Asia Pacific will be regions such as North America, Europe, Latin America and the Middle East and Africa. The growth in North America will be centered in countries such as the U.S. and Canada. An ample share of the market growth will be contributed by countries such as the U.K., Germany, Spain, France, Belgium, Italy, Luxembourg, Poland, Netherlands, and Russia in the European regions. Latin American countries such as Brazil, Mexico, Peru, and Chile will be contributing towards the increasing demand of the market. South Africa and North Africa will also show significant growth rate in the Middle East and African regions.
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Global Vehicle Anti-Theft Systems Market: Competitive Players
Some of the major companies in the global vehicle anti-theft system market are Continental AG, Robert Bosch GmbH, Lear Corporation, Tokai Rika Ltd., Delphi Automotive LLP, Johnson Electric, VOXX International Corp. and Mitsubishi Electric Corporation.