Rockville, MD -- (SBWIRE) -- 03/22/2018 -- A recent study by Fact.MR estimates the global vehicle anti-theft system market to account for revenues worth US$ 6,764.1 Mn in 2017, expanding at a CAGR of 7.4% during the forecast period 2017 to 2022. The global market for vehicle anti-theft system is further anticipated to reach US$ 9,670.5 Mn by 2022-end.
Increasing Production Capacity & Expansion of Technical Centres by OEMs to Drive the Market Growth
From simple lock & key to sophisticated biometric identification systems, vehicle anti-theft systems have witnessed a slew of developments over the past few years. The underpinning devices and technologies, preventing unauthorized vehicle access, have undergone major transformations. Several factors such as threshold for theft, financial costs, and ease of use have rendered vehicle anti-theft systems with higher demand among vehicle owners. There has been a robust expansion in technological advancements in vehicle anti-theft security market, which is primarily driven by increasing focus of manufacturers to offer safety and convenience to vehicle passengers. In addition, OEMs are substantially expanding their technical centers, and increasing their production capacity, in a bid to cater increasing demand for vehicles worldwide. This in turn will fuel the adoption of vehicle anti-theft systems.
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Recent developments in vehicle anti-theft systems have implied the integration of smartwatches and smartphones into vehicle systems, which will further be capable of being linked with several other features for enhancing the driving experience. For example - along with performing locking functions, this technology will provide information about distances, maps of areas nearby, and amount of fuel in vehicle. Expansion of biometric technology promises the development of anti-DUI enforcement, and anti-theft measures. These factors are further expected to augment growth of the global vehicle anti-theft system market.
Immobilizer Anti-Theft Systems to Remain Preferred in Vehicles
Based on product type, Immobilizer anti-theft systems will continue to be preferred in vehicles, and are expected to account for the largest revenues by 2022-end. Sales of central locking anti-theft systems are estimated to register the highest CAGR, to be the second largest adopted product in the global vehicle anti-theft system market by 2022-end. In addition, sales of biometric capture devices, and steering locks vehicle anti-theft systems are expected to exhibit similar CAGRs through 2022, however revenues from sales of steering locks will remain larger than biometric capture devices.
Sales of vehicle anti-theft systems are expected to remain highest in passenger cars, expanding at a high single-digit CAGR through 2022. Revenues from sales of vehicle anti-theft systems in passenger cars are expected to account for nearly three-fourth share of the market, based on vehicle type.
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Face-detection to Remain Dominant Technology for Vehicle Anti-Theft Systems
In terms of revenues, face-detection technology is expected to remain dominant in the global vehicle anti-theft system market. However, sales of automotive biometric technology are estimated to register the fastest expansion through 2022. Real time location is expected to remain the second most lucrative technology adopted for vehicle anti-theft systems over the forecast period.
Asia Pacific Excluding Japan (APEJ) will remain the most lucrative region for sales of vehicle anti-theft systems, in terms of revenues. However sales of vehicle anti-theft systems in North America are expected to register the fastest expansion. However, in terms of revenues, Europe will remain comparatively more lucrative than North America in the global vehicle anti-theft system market.
Key players in the global vehicle anti-theft system market include Continental AG, Robert Bosch GmbH, Delphi Automotive Plc, Mitsubishi Electric Corporation, Lear Corporation, VOXX International Corporation, TOKAI RIKA, CO, LTD., ZF TRW Automotive Holdings Corporation, OMRON Corporation, Denso Corporation, and HELLA KGaA Hueck & Co.
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