The incidence of car theft has come down drastically in recent years and this can be attributed to the rising use of these security systems. However, the incidence is still disturbingly high and theft numbers are concentrated among entry-level cars that have basic security systems. The incidence of theft amongst luxury cars that have state-of-the-art security systems is relatively less, pointing towards the advantages of having modern security systems in the car. Passenger car security products such as immobilizers, alarms, central locking systems, and Remote Keyless Entry (RKE) protect cars from theft or hijacking. These passenger car security products immediately alert the owner in cases of theft
Mature In Developed Economy
The market is more mature in the developed regions of North America and Europe, where most cars come with factory car security systems. North America region is anticipated to witness significant growth during the forecast period. This growth of car security system in North America region can be attributed to the presence of moneyed buyers which are expected to propel the demand for vehicles in this region which in turn, fuel the growth of car security system market in North America region. Moreover, regional markets of North America & Europe regions are more matured and are anticipated to witness steady growth over the forecast period.
The demand for immobilizers is expected to be the fastest among all the categories, as most new automobiles coming post-2020 is expected to feature these systems. Car immobilizers are deemed to be one of the most important aspects of car safety and hence will register the fastest growth. The Asia-Pacific region is predicted to see the fastest rate of growth till 2022. But post-2022, Africa, on account of the boom in sales of automobiles, might overtake Asia-Pacific to become the fastest growing market in the world.
Government orders/rules in vehicle security play an important role in the expansion of the market. Many emerging markets including Brazil and Malaysia have legislation that requires each car produced to have immobilizers present. However, these legislations are not there in much fast growing and big markets like India. Major markets in the coming years will have basic car safety regulations, and this will boost the car security market globally.
The trend of remote keyless entry systems is catching on in the Asia-Pacific region and is expected to give manufacturer’s ample opportunity. Hyundai Motors India Ltd. was the first automobile company to introduce Keyless Remote Entry (RKE) or car immobilizers in their economy or budgeted cars eg. Hyundai i20 and Verna.Though this technology is only available in the high variant of the car rather than the basic model.
Major Players: BOSCH, CONTINENTAL, DELPHI AUTOMOTIVE, TOKAI RIKA, VALEO, amongst others
Reasons to Purchase this Report
- Provides latest insights into the Car Security Systems Market.
- Gives a detailed analysis of key competitors in the Car Security Systems Market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Detailed analysis on the region that is expected to witness the highest growth.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- Three months analyst support, along with the Market Estimate Sheet (in excel).
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1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
3. Executive Summary
4. Market Overview and Technological Trends
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter's Five Forces Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of the Consumers
4.3.3 Threat of New Entrant
4.3.4 Threat of Substitutes
4.3.5 Competitive Rivalry
5. Market Dynamics
5.1.1 Increasing Awareness for Car Security/theft
5.1.2 Car immobilizers and Remote Keyless Entry
5.2.1 Can be hacked easily
5.3.1 Asia-Pacific Security System Market is at its Infant Stage
6. Car Security Systems Market Segmentation, by Type
6.2 Keyless Entry
6.4 Central Locking
7. Car Security Systems Market Segmentation, by Geography
7.1 North America
7.1.1 The United States
7.1.4 Rest of North America
7.2.4 Rest of Asia-Pacific
7.3.2 United Kingdom
7.3.4 Rest of Europe
7.4 South America
7.4.3 Rest of South America
7.5 Middle-East and Africa
7.5.1 Saudi Arabia
7.5.3 South Africa
7.5.4 Rest of Middle-East and Africa
8. Competitive Landscape
8.2 Market Share Analysis
9. Company Profile
9.1 Alps Electric
9.5 Delphi Automotive
9.8 Mitsubishi Electric
9.9 Tokai Rika
12. Future Outlook of the Market