Vancouver, BC -- (SBWire) -- 02/03/2021 --Remote Vehicle Shutdown Market
Remote shutdown devices are helpful in preventing possible thefts and highjacks of vehicles. These devices are connected to cars or vehicles via satellite or wireless connections. These devices are actively used in the United States, where creditors use this technology to disable the car's ignition when the debtor fails to repay. The police department also uses these devices to track down stolen vehicles and high speeding vehicles.
The global remote vehicle shutdown market is expected to reach USD 679.7 million by 2027 from USD 385 million in 2019, with a CAGR of 7.9%.
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Leading Players Profiled in the Report Include:
Sonic Electronix, Inc., Fleetsmart, Cobra Car Tech. Ltd., OnStar Corporation, Frotcom International, Scania AB, PassTime, EMCO Software, LoJack Corporation, and Tracker Connect (Pty) Ltd., among others.
Market Drivers:
The increasing vehicle theft incidences have led to the need for advanced automotive technology for vehicle security, driving the market for remote vehicle shutdown. Using IoT and Artificial intelligence technology in vehicles are some of the essential factors driving the market growth. These remote shutdown devices are reliable and provide utmost security. This is expected to fuel the market growth during the projected period.
Type Outlook (Revenue, USD Million; 2017-2027)
Automatic
Manual
Propulsion Outlook (Revenue, USD Million; 2017-2027)
Electric
Diesel
Petrol
Vehicle Outlook (Revenue, USD Million; 2017-2027)
Commercial
Passenger
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The following are the main reasons to buy the Global Remote Vehicle Shutdown Market report:
The latest report closely evaluates the overall market size and infers on various aspects, such as the current business trends, market share, product offerings, and product share.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
It offers an insightful analysis of the various regional segments of the market that are projected to witness enormous growth over the forecast period.
Furthermore, the report covers the latest developments taking place in the market and effective business strategies implemented by the leading market rivals.
The report considers the following market growth estimation timeline:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027
Regional Analysis:
In 2019, North America led the market with the highest share of 36.2%. It will continue to lead the market through the projected period owing to the growing concerns regarding the security of vehicles and rising theft cases. The Asia Pacific region is expected to spectate the fastest growth of the remote vehicle shutdown market due to the rise in vehicle thefts.
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Remote Shutdown Devices Market Investment Opportunities, Industry Share & Trend Analysis Report to 2027
The rising theft of vehicles and increasing demand for advanced automated technology to secure vehicles are driving the demand for the market.