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Passenger car security system market
Passenger car security system market
DUBLIN, Oct. 21, 2024 (Globe Newswire) — The “Passenger Vehicle Security Systems – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for passenger vehicle security systems is estimated to be USD 7.2 billion in 2023 and projected to reach USD 8.1 billion by 2030, growing at a CAGR of 1.7% from 2023 to 2030. This comprehensive report provides a detailed analysis of the market. Understand trends, drivers, and forecasts to help you make informed business decisions.
The growth of the passenger vehicle security systems market is driven by several factors reflecting changes in consumer behavior, technological innovations, and the evolving threat landscape. One of the key factors is growing global concern about vehicle theft and vandalism, with consumers prioritizing security features when purchasing new cars. As urbanization increases and vehicles are often parked in public spaces and unsecured locations, there is a growing demand for advanced security systems that can provide increased protection against theft.
Additionally, with the proliferation of car-sharing services and the shift to shared mobility, vehicles are now being accessed by multiple users, making them more vulnerable to abuse and theft, driving the need for robust security systems. It’s increasing even more. Advances in technology are also driving market growth, with features such as keyless entry, remote monitoring, and AI-driven surveillance increasing in popularity. Consumers are attracted to the enhanced convenience and safety offered by these technologies, especially the ability to remotely control and monitor vehicles via their smartphones.
Additionally, the need for advanced security measures to protect the electronic systems and software in these high-tech vehicles becomes even more important, driving innovation by integrating these systems into electric and autonomous vehicles. Masu. Cybersecurity has emerged as a key growth driver as the rise of connected and autonomous vehicles creates new risks of hacking and digital theft. This has led to the development of specialized security solutions aimed at protecting the digital infrastructure of modern vehicles. Additionally, regulatory pressures and insurance incentives are contributing to the market growth. In many countries, governments have introduced strict regulations requiring vehicles to be equipped with certain security features such as immobilizers and anti-theft devices to reduce crime rates.
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Similarly, insurance companies offer lower premiums for vehicles equipped with advanced security systems, encouraging consumers to invest in these technologies. Demand for these features continues to grow as consumers become more aware of the economic and safety benefits of car security systems. Taken together, these factors are driving the rapid expansion of the passenger vehicle security systems market, with future growth likely to be shaped by continued innovation in both physical and digital security technologies.
Key insights:
Market Growth: Understand the significant growth trajectory of the Immobilizer segment. This sector is expected to reach USD 3.5 billion by 2030 at a CAGR of 2.9%. The Central Lock Systems segment is also expected to grow at a CAGR of 1.4% during the analysis period.
Regional analysis: Gain insight into the US market, estimated to be worth $2 billion in 2023, and the Chinese market, expected to grow at a phenomenal CAGR of 3.9% and reach $1.6 billion by 2030. You can. You can see growth trends in other major regions such as Japan, Canada, and Germany. , and Asia Pacific.
Report features:
Comprehensive market data: Independent analysis of annual sales and market forecasts in million USD from 2023 to 2030.
Detailed regional analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, Latin America, Middle East and Africa.
Company Profile: Covers major companies such as Alps Alpine Co., Ltd., Aptiv PLC, and Bosch Mobility Solutions.
Free Updates: Receive 1 year of free report updates to stay on top of the latest market trends.
Answers to key questions:
How is the global passenger vehicle security systems market expected to develop by 2030?
What are the key drivers and constraints impacting the market?
Which market segment will grow the most during the forecast period?
How will the market share of different regions and segments change by 2030?
Who are the key players in the market and what is its future?
Key attributes:
report attributes
detail
Number of pages
279
Forecast period
2023-2030
Estimated market value in 2023 (USD)
$7.2 billion
Projected market value to 2030 (USD)
$8.1 billion
compound annual growth rate
1.7%
Target area
global
Main topics covered:
Market overview
Insights into the influencer market
Passenger Vehicle Security Systems – Market Share Percentage of Global Major Competitors in 2024 (E)
Competitive Market Presence – Strong/Active/Niche/Mediocre (E) for Players Worldwide in 2024
Market trends and drivers
Rising vehicle theft rate drives passenger car security system market growth
The target market for advanced security systems for passenger cars is expanding due to increased attention to vehicle safety.
Technological advances in biometric and keyless entry systems drive innovation in car security
Growing demand for connected and smart cars strengthens the business case for integrated security systems
Increased adoption of anti-theft and immobilizer technology fuels growth in passenger vehicle security solutions
With the shift to self-driving cars, attention is focused on strengthening security functions to prevent cyber attacks.
Increased use of GPS tracking and real-time monitoring drives growth in vehicle recovery and security solutions
Innovations in alarm systems and motion sensors improve car security accuracy and effectiveness
Expanding opportunities to strengthen security features with focus on preventing carjackings and vehicle break-ins
Focus on carefully selected players (39 players in total)
Alps Alpine Co., Ltd.
Aptiv PLC
Bosch mobility solutions
Continental Automotive Technologies GmbH
Denso Corporation
Huf Hulsbeck & Furst GmbH & Co. KG
Infineon Technologies AG
Metasystem SpA
Mitsubishi Electric USA Corporation
Nostar Group Co., Ltd.
For more information on this report, please visit https://www.researchandmarkets.com/r/59ir0d.
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