Global Car Security Systems Market – Industry Trends and Forecast to 2029

Market Analysis and Size

The car security systems have taken a crucial role in the last few decades with the rising incidences of car thefts across the globe. Cars such as Jaguar XK, BMW 7 Series, and Audi A6, among others are coming with high-end and cutting-edge security system. Smart devices such as smart watches and smartphones are being incorporated by security system manufacturers to help consumers track down their car in case of a theft.

Global Car Security Systems Market was valued at USD 9,040.91 million in 2021 and is expected to reach USD 14962.67 million by 2029, registering a CAGR of 6.50% during the forecast period of 2022-2029. Passenger Vehicle accounts for the largest vehicle type segment owing to the consumer preference towards economic vehicle options. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Car security system, also known as vehicle security system, refers to an intelligent electronic devices that are integrated in a car. The purpose of these systems is to dissuade theft of the vehicle itself.

Report Scope and Market Segmentation

Car Security Systems Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increase in the Car Theft

The surge in the incidences of car theft across the globe acts as one of the major factor driving the growth of car security systems market. Government of various regions are taking initiatives to decline the number of car thefts. Manufacturers are increasing their investments to meet government standards that further assists in the expansion of the market.

• High End Luxury Cars

The increase in the sales of high end luxury cars is accelerating the growth of the market. The surge in disposable income is escalating demand for high end luxury cars among population throughout the world. The rise in the demand for high performance and reliability of automobiles among consumers drives the market growth.

• High Demand for Passenger Vehicles

The increase in demand for passenger vehicles owing to the surge in middle-income group population along with rise in standard of living in emerging countries further influence the market. Consumers are also inclining towards these vehicles due to the availability of economic options in these vehicles.

Additionally, expansion of the automotive sector, surge in investments and increased disposable income positively affect the car security systems market.

Opportunities

Furthermore, increased demand for application-based technologies and introduction of 5G technology into vehicle connectivity extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise of biometric technology will further escalate the growth of car security systems market.

Restraints/Challenges faced by the Car Security Systems Market

On the other hand, high cost associated with premium security features and potential failure of electronic components used in vehicle security systems are expected to obstruct market growth. Also, concerns regarding cyber security risks are projected to challenge the car security systems market in the forecast period of 2022-2029.

This car security systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the car security systems market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

COVID-19 had a Major Impact on Car Security Systems Market

COVID-19 had a negative impact on the global car security systems market due to the commute restrictions. The market faced various challenges, such as regulatory and policy changes, working capital management, supply chain execution and dependency on labor. However, organizations prepared strategic cost-saving plans to manage the impact of the pandemic. The demand for vehicle tracking hardware and managing software has increased to manage and cater to the continuous supply of essentials in the post pandemic scenario.

Recent Developments

• ZF launched its new ZF ProAI supercomputer at IAA 2021 in Germany in July’2021. The system us known to be equipped with software, actuators, control units, and sensors for software-defined vehicles and provide the latest security mechanisms against cyber threats.
• Hella premiered a new development center for software and electronics in March’2021 in the Romanian city of Craiova aiming to expand company’s portfolio and product testing.

Global Car Security Systems Market Scope

The car security systems market is segmented on the basis of product type, vehicle type and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Central Locking System
• Car Alarm
• Immobilizer
• Remote Keyless Entry
• Others

Vehicle Type

• Passenger Car

                             Compact

                             Mid-Size

                             Luxury

                              SUV

• Light Commercial Vehicle

Sales Channel

• OEM
• Aftermarket

Car Security Systems Market Regional Analysis/Insights

The car security systems market is analyzed and market size insights and trends are provided by country, product type, vehicle type and sales channel as referenced above.

The countries covered in the car security systems market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the car security systems market because of the presence of a wide base of affluent consumers and rise in the purchase of cars within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the surge in capacity of vehicle production and increase in number of exports of automobiles in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Car Security Systems Market Share Analysis

The car security systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to car security systems market.

Some of the major players operating in the car security systems market are

• Continental AG (Germany)
• Valeo (France)
• Robert Bosch GmbH (Germany)
• HELLA GmbH & Co. KGaA (Germany)
• Aptiv. (Ireland)
• DENSO CORPORATION. (Japan)
• Tokai Rika Co., Ltd. (Japan)
• ALPHA Corporation (US)
• Stoneridge Inc. (US)
• Mitsubishi Electric Corporation (Japan)
• Huf Hülsbeck & Fürst GmbH & Co. KG (Germany)
• Marquardt Management SE (Germany)
• I Car Srl (Italy), Directed (US)
• ALPS ALPINE CO., LTD. (Japan)
• Atech Automotive (Wuhu) Co.Ltd. (China)

SKU-68346