Pune, India -- (SBWIRE) -- 01/17/2018 -- Global Vehicle Security Market, By Technology (Immobilizer System, Remote Central Locking System, Alarm System and Others), by Channel type (OEM, and Aftermarket), By Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Region- Forecast 2017-2023

Market Highlights

The global market of vehicle security is growing rapidly. Vehicle security has features to ensure safety, comfort and thus, can conveniently be used, in automotive industry. Vehicle security systems are designed to protect cars from hijacks or thefts. Technologies such as RFID, GPS and others help detect presence and location of the vehicle. It helps improve operational processes, safety and inventory management. Research and development by manufacturers to introduce innovative features and technology, is a trend. The demand for automotive goods in many countries, will continue to increase and the number of function & applications, are expected to rise notably during the next few years.

Furthermore, high deployment cost and lack of uniform standards are some of the major restraints, are hampering the market growth.

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Taste the market data and market information presented through more than 35 market data tables and 25 figures spread over 98 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on "The Global Vehicle Security Report -Forecast to 2023".

The prominent players in the vehicle security market includes Valeo S.A.(France), Continental A.G.( Germany) Delphi Automotive PLC (U.K.), Hella KGaA Hueck & Co.(Germany) , Tokai Rika Co., Ltd. (Japan), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Lear Corporation (U.S.), Omron Corporation (Japan).

Global Vehicle Security Market: Segmentation

Vehicle security market is highly application driven and systems are gaining popularity across end users segment. Asia-Pacific is referred to as fastest growing region for Vehicle Security. Increase in the modernization, technological advancement, rising vehicle production and cost-effective technologies, are expected to increase the growth of the market for vehicle security in Asia-Pacific. With increasing vehicle production in countries such as India and China, and the focus of manufacturers on increasing production capacity, the demand for vehicle security has been projected to grow, significantly. The market is expected to reach a market size of USD 10.45 Billion by the end of the forecast period at CAGR of 6.8%.

Market Research Future Analysis:

Market Research Future analysis shows that the global market of vehicle security market is estimated to grow at a 6.8 % CAGR by the end of year 2023. Growing awareness about vehicle safety and the increasing installation of security systems in the car, are pushing the market towards growth. Moreover, mobile communication, face detection system, real-time location system and charging facilities give a new way of growth to vehicle security market. Recent developments are replacing the earlier concepts, thus enhancing convenience for passengers. Asia-Pacific is expected to be the largest region in the vehicle security market while North America & Europe are expected to witness steady growth in demand over the forecast period.

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