Vehicle Security Market Report - Market Research Reports

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Vehicle Security Market Report

Description:

Key Note estimates that the UK vehicle security market was worth £291m at msp (manufacturers' selling prices) in 2000, a slight downturn on the previous year due to the decrease in new car output in the UK. In 2000, over a third of the market was accounted for by physical security products (such as vehicle locks, mechanical immobilisers and security marking), and just under two-thirds of the market came from electronic security products (including tracking systems, alarms, electronic/electromechanical immobilisers and combined alarm/immobilisers). The vehicle security market is highly dependent on the level of vehicle production in the UK, since most of the demand is now for factory-fitted products. In 2000, vehicle production fell, and prospects for the next 2 years at least are rather uncertain. Nevertheless, the UK is the fourth-largest motor vehicle producer in Europe. The other factors that drive the market are: the cost of insurance, which is continuing to rise the incentives offered by the insurance companies the level of vehicle crime and the publicity given to security campaigns. Product innovation is also important to ensure that security products remain ahead of criminal techniques. Tracking systems still represent a growth sector, which has not yet reached maturity. There is also scope for upgrading some factory-fitted products. Key Note expects some overall decrease in the value of the vehicle security market in 2001 and 2002 because of the pressures on the car industry, but this decline will not necessarily continue and opportunities remain for growth in the market.

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