Vehicle Security Market Research Report - Global Forecast to 2023
The global vehicle security market is estimated to account for a market share of USD 13,408.83 million and register a 6.38% CAGR during the forecast period. In 2017, the market was led by Asia-Pacific with a 51.13% share, followed by Europe and North America with shares of 22.12% and 19.76%, respectively. Market Research Future (MRFR) in their report envelops segmentations and drivers for a better glimpse of the market in the coming years. The vehicle security system is a defense system of the vehicle against external, malicious threats to secure it in all possible ways. This vehicle security system includes detection, prevention, and response to threats through the use of various technologies, such as radio frequency identification and ultrasonic. Additionally, the global market for vehicle security is growing due to the rising incidents of vehicle theft and the adoption of biometric technology in vehicle security.
However, the growth of the market may be hindered due to the potential failure of electronic components and the high cost of the vehicle security system. Additionally, poor quality control during the manufacturing and assembly process may result in improper manufacturing of electronic components, which may cause failure.
Segmental Analysis
Extensive research of the global vehicle security market segments the market by technology, component, and vehicle type.
Based on the technology, the global vehicle security market can be segmented into ultrasonic, radio frequency identification, and others. The radio frequency identification segment is dominating the market and is expected to be valued at USD 7,430.92 million by 2023. Meanwhile, the ultrasonic segment is quickly gaining popularity and might attain the highest CAGR of 5.73% during the forecast period.
On the basis of component, the global vehicle security market is segmented into Ultrasonic Intruder Protection System (UIP), Backup Battery Siren (BBS), Central Locking System, Automatic Collision Detection System, Automatic Driver Recognition System (ADRS), Remote Keyless Entry System, and Others. The central locking system segment is dominating the market and is expected to be valued at USD 3,730.15 million by 2023, followed by remote keyless entry system, and ultrasonic intruder protection system. Meanwhile, the remote keyless entry system segment is quickly gaining popularity and could attain the highest CAGR of 10.15% during the forecast period
On the basis of vehicle type, the global vehicle security market is segmented into passenger vehicle and commercial vehicle. The passenger car segment is dominating the market with a valuation of USD 9,038.40 million by 2023. Meanwhile, the commercial vehicle segment is gaining fast popularity and can attain the highest CAGR of 7.37% during the forecast period.
On the basis of sales channel, the global vehicle security market is segmented into original equipment manufacturers (OEMs) and the aftermarket. The OEMs segment is dominating the market and is expected to be valued at USD 10,026.99 million by 2023. Meanwhile, the aftermarket segment is quickly gaining popularity and can attain the highest CAGR of 8.78% during the forecast period.
Browse Complete Report Details @ https://www.marketresearchfuture.com/reports/vehicle-security-market-4077
Competitive Analysis
Prominent players in the global vehicle security market are Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), Valeo (France), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Lear Corporation (US), Tokairika, Co, Ltd (Japan), Omron Corporation (Japan), and Alps Alpine Co., Ltd (Japan). Mergers, acquisitions, and collaborations are some of the strategies that these companies employ to stay ahead of the rest.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: abhishek sawant
Email: sales@marketresearchfuture.com
Organization: Market Research Future
Address: Market Research Future Office No. 528,
Amanora Chambers, Magarpatta Road, Pune, India.,
Phone: +1 646 845 9312
However, the growth of the market may be hindered due to the potential failure of electronic components and the high cost of the vehicle security system. Additionally, poor quality control during the manufacturing and assembly process may result in improper manufacturing of electronic components, which may cause failure.
Segmental Analysis
Extensive research of the global vehicle security market segments the market by technology, component, and vehicle type.
Based on the technology, the global vehicle security market can be segmented into ultrasonic, radio frequency identification, and others. The radio frequency identification segment is dominating the market and is expected to be valued at USD 7,430.92 million by 2023. Meanwhile, the ultrasonic segment is quickly gaining popularity and might attain the highest CAGR of 5.73% during the forecast period.
On the basis of component, the global vehicle security market is segmented into Ultrasonic Intruder Protection System (UIP), Backup Battery Siren (BBS), Central Locking System, Automatic Collision Detection System, Automatic Driver Recognition System (ADRS), Remote Keyless Entry System, and Others. The central locking system segment is dominating the market and is expected to be valued at USD 3,730.15 million by 2023, followed by remote keyless entry system, and ultrasonic intruder protection system. Meanwhile, the remote keyless entry system segment is quickly gaining popularity and could attain the highest CAGR of 10.15% during the forecast period
On the basis of vehicle type, the global vehicle security market is segmented into passenger vehicle and commercial vehicle. The passenger car segment is dominating the market with a valuation of USD 9,038.40 million by 2023. Meanwhile, the commercial vehicle segment is gaining fast popularity and can attain the highest CAGR of 7.37% during the forecast period.
On the basis of sales channel, the global vehicle security market is segmented into original equipment manufacturers (OEMs) and the aftermarket. The OEMs segment is dominating the market and is expected to be valued at USD 10,026.99 million by 2023. Meanwhile, the aftermarket segment is quickly gaining popularity and can attain the highest CAGR of 8.78% during the forecast period.
Browse Complete Report Details @ https://www.marketresearchfuture.com/reports/vehicle-security-market-4077
Competitive Analysis
Prominent players in the global vehicle security market are Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), Valeo (France), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Lear Corporation (US), Tokairika, Co, Ltd (Japan), Omron Corporation (Japan), and Alps Alpine Co., Ltd (Japan). Mergers, acquisitions, and collaborations are some of the strategies that these companies employ to stay ahead of the rest.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: abhishek sawant
Email: sales@marketresearchfuture.com
Organization: Market Research Future
Address: Market Research Future Office No. 528,
Amanora Chambers, Magarpatta Road, Pune, India.,
Phone: +1 646 845 9312
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