Car Security System Market Global Analysis of Key Manufacturers, Dynamics & Forecast 2019-2027

Press Release : March 31, 2020
Car Security System Market Global Analysis of Key Manufacturers, Dynamics & Forecast 2019-2027

Market Overview

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. Car security system varies according to the type of car. For instance, premium cars such as BMW 7 Series, Jaguar XK, Audi A6, and more are equipped with high-end and cutting-edge security system. Different types of security systems are installed in a car such as immobilizer system where the system stops the car from being driven away by locking the steering wheel, gear, lever, or pedals in positions. It can also disable electronics system of the car. One of the most commonly used car security method is the alarm system where the device produces an audible and visual warning if the car notices an unauthorized entry. This system works differently for different cars including ultrasonic sensors, glass break sensors, perimeter sensors, door locks, etc.

The global car security market was valued at US$ 7,971.5 Mn in terms of value in 2019. The market is estimated to grow at a CAGR of 6.0% during the forecast period.

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Market Dynamics

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.

Detailed Segmentation:

Global Car Security System Market, By Car Type:

Economic Cars

Mid-Range Cars

Premium Cars

Global Car Security System Market, By Sales Channel:

OEM

Aftermarket

Global Car Security System Market, By Product Type:

Immobilizer system

Remote Central Locking System

Alarm System

Other Systems

 

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Key companies operating in the global car security system market are Omron Corporation, Tokai Rika Co., Ltd., Valeo S.A., Continental AG, Delphi Automotive PLC, Robert Bosch GmbH, Denso Corporation, Mitsubishi Electric Corporation, and Tokai Rika Co., Ltd.

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