The global car security system market revenue was around US$ 11.48 billion in 2022 and is estimated to reach US$ 21.4 billion by 2031, growing at a compound annual growth rate (CAGR) of 7.2% during the forecast period from 2023 to 2031.
A car security system is an advanced electronic device installed in automobiles to prevent vehicle theft or its contents. The specific capabilities and features of car security systems can differ depending on the type of car. These systems contain different types of security measures, such as immobilizers that prevent the car from being driven away by locking the gear lever, steering wheel, or pedals in position.
Market Driving Factors
Increasing concerns and awareness boosts market growth. Customers are becoming more aware of the importance of car security due to increased media coverage and public awareness campaigns focused on related crimes and vehicle theft. The public's concerns are surging and the importance of effective car security systems is emphasized due to the news reports on car theft incidents and their potential consequences.
For instance, news reports highlighting high-profile car theft incidents in which expensive vehicles or the contents of the vehicles are stolen make car owners feel vulnerable. The media frequently covers these instances extensively, which raises public awareness of the dangers of auto theft.
Appropriate regulatory laws and policies boost market growth. Governments all around the world are enacting strict rules on the security and safety of cars, compelling car manufacturers to incorporate particular security elements into their vehicles. These rules aim to improve vehicle security, prohibit theft, and assure the general safety of passengers and their possessions.
The high maintenance and installation prices associated with car security systems hamper the market growth.
Regional Analysis
Asia Pacific is predicted to dominate the market. This is due to the increasing capacity of vehicle production in the region and the surge in several exports of automobiles. Furthermore, the aftermarket industry is also increasing in the region which is responsible for market growth. In addition, the increasing trend of installing safety characteristics among the people in this region owing to increased incidences of car theft.
North America dominates the market. This is due to the existence of a broad base of affluent consumers which has led to an increase in the purchase of cars. It has subsequently led to a surge in the installation of car security systems. Furthermore, United States is home to different car manufacturing companies such as General Motors, Ford Motor Company, and Fiat Chrysler Automotive. These factors boost the market growth in the region.
Segmentation Insights
Vehicle Type Insight
The passenger car segment is estimated to dominate the market. This is due to the surge in the number of stolen vehicles in comparison to light commercial vehicles. For instance, the National Insurance Crime Bureau (NICB) stated that in 2022, more than 1 million vehicles were stolen, marking a 7 percent rise from 2021 and exceeding the 1 million mark for the first time since 2008. Thus, in order to protect the vehicles from being stolen consumers will increase the adoption of car security systems, which, in turn, will drive the market growth.
Sales Channel Insight
The aftermarket segment is estimated to dominate the market over the forecast period. This is due to the surge in demand for aftersales services, an increase in the number of older vehicles on the road, and the digitization and desire for luxury cars. Car security systems are electrical equipment with an average lifespan of four to five years. Car security systems must be replaced after this period. As a result, sales through the aftermarket channel are estimated to boost the market growth.
Prominent Companies
Segmentation Outline
The global car security system market segmentation focuses on Product Type, Vehicle Type, Sales Channel, and Region.
By Product Type
By Vehicle Type
By Sales Channel
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL CAR SECURITY SYSTEM MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: CAR SECURITY SYSTEM MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL CAR SECURITY SYSTEM MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL CAR SECURITY SYSTEM MARKET, BY PRODUCT TYPE
5.1 OVERVIEW
5.2 CENTRAL LOCKING SYSTEM
5.3 CAR ALARM
5.4 IMMOBILIZER
5.5 REMOTE KEYLESS ENTRY
5.6 OTHERS
6 GLOBAL CAR SECURITY SYSTEM MARKET, BY VEHICLE TYPE
6.1 OVERVIEW
6.2 PASSENGER CAR
6.2.1 COMPACT
6.2.2 MID-SIZE
6.2.3 LUXURY
6.2.4 SUV
6.3 LIGHT COMMERCIAL VEHICLE
7 GLOBAL CAR SECURITY SYSTEM MARKET, BY SALES CHANNEL
7.1 OVERVIEW
7.2 OEM
7.3 AFTERMARKET
8 GLOBAL CAR SECURITY SYSTEM MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL CAR SECURITY SYSTEM MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 CONTINENTAL AG
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 ROBERT BOSCH GMBH
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 HELLA GMBH & CO. KGAA
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 APTIV PLC
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 DENSO CORPORATION
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 TOKAI RIKA CO LTD
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 ALPHA CORPORATION
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 STONERIDGE INC
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 MITSUBISHI ELECTRIC CORPORATION
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 HUF HÜLSBECK & FÜRST GMBH & CO. KG
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 VALEO S.A.
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 MARQUARDT GMBH
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 I CAR SRL
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 DIRECTED INC
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 ALPS ALPINE CO. LTD
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 ATECH AUTOMOTIVE CO., LTD
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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