Car Security Market, by Car Type (Economic Cars, Mid-Range Cars, Premium cars), by Sales Channel (OEM, Aftermarket), by Product Type (Immobilizer system, Remote Central Locking System, Alarm System, Other Systems) and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Car security system or vehicle security system is an intelligent electronic device installed in the car, in order to dissuade theft of the vehicle itself, the content in it or both. Generally, high-end vehicles are equipped with car security system with basic anti-theft solutions in mid-range cars. Car security system varies according to the type of car. Generally, high-end vehicles are equipped with car security system with basic anti-theft solutions in mid-range cars. Over the years, automakers have introduced innovative vehicle security systems such as alarm system, which produces an audible albeit loud sound when there is an attempt of unauthorized entry. Furthermore, high-end luxury cars have immobilizer system, wherein the security system restricts the car’s movement by locking gear, steering wheel, lever or electronics systems.
Increasing car thefts worldwide has compelled the car owners to deploy advanced security systems in their vehicles. The increase in car enhanced security measures and technologies have encouraged car owners to adopt anti-theft solutions for their cars. Thus, improved security system and growing awareness among consumers regarding benefits of car security systems are expected to boost the global car security system market growth over the forecast period. According to Germany’s BKA Federal Police, in 2015, around 18,500 stolen vehicles were not recovered. According to Federal Bureau of Investigation (FBI), in 2012, around 721,053 motor vehicle thefts were reported. This was a 0.6% Y-o-Y increase in vehicle theft and a loss of US$ 4.3 Bn worth of vehicles.
This report segments the global car security system market on the basis of car type, sales channel, product type and region. On the basis of car type, the market is segmented into Economic Cars, Mid-Range Cars, and Premium cars. On the basis of sales channel, the market is segmented into OEM, and aftermarket. On the basis of product type, the market is segmented into immobilizer system, remote central locking system, alarm system and others.
For a comprehensive understanding of market dynamics, the market is analyzed across key geographical regions, namely, North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Each of these regions is analyzed on the basis of market findings across major countries in these regions, for a macro-level understanding of the market.
Key features of the study:
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