Vehicle anti-theft systems are anticipated to increase rapidly at a CAGR of 7.1% through 2027. Vehicle immobilizer systems are expected to exhibit demand growth at 7.5% CAGR owing to stringent government regulations in several countries that mandate the installation of immobilizers as they have been proven to be more secure than other auto theft systems.
The automotive industry veered toward electrification owing to the increased integration of advanced digital systems such as GPS, RTLS, and the rising popularity of electric vehicles. This led to increased use of software, which is prone to cyberattacks that have been witnessing a notable rise in recent times.
The growing popularity of connected cars and the launch of new cars with advanced cloud-based technologies is anticipated to drive demand for new and advanced anti-theft vehicle security systems. Vehicle anti-theft system suppliers can focus on the launch of new advanced products such as car theft alarm systems, vehicle anti-theft GPS, antitheft trackers, etc. Digitization and electrification of the automotive industry have created new challenges for the security of vehicles and this has created new opportunities for many start-ups to fulfill the shortcomings with new and innovative car anti-theft devices.
- SecureThings.ai, a California-based startup, founded in 2018, is tackling modern automotive security issues with artificial intelligence (AI) and machine learning. The company aims to target new trends in the automotive industry such as autonomous driving, electric vehicles, and automotive IoT.
Competitive Landscape
Companies in the vehicle anti-theft system marketplace are anticipated to focus on the deployment of strategies that would help them increase their market presence such as mergers, collaborations, and partnerships.
- In January 2022, Ford, a leading automotive manufacturer, and ADT, a home and business security solutions provider announced the launch of a new joint venture to enhance vehicle security and address shortcomings of the same. The venture titled Canopy had plans to launch an accessory that can be mounted on vehicles to monitor the surroundings and alert vehicle owners.
Key Segments of Vehicle Anti-theft System Market Research:
By Technology
Global Positioning System
Global System for Mobile Communications
Face Detection Systems
Global Radio Frequency Identification
Real-time Location Systems
By Vehicle Type
Passenger Cars
Commercial Vehicles
Off-highway Vehicles
These insights are based on a report on Vehicle Anti-theft System Market.by Fact.MR
