Global Vehicle Anti-Theft System Market Report and Forecast 2024-2032

Global Vehicle Anti-Theft System Market Outlook

The global vehicle anti-theft system market attained a value of about USD 13.16 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.57% to reach nearly USD 23.32 billion by 2032.     

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Increasing Car Ownership Boosting the Growth of the Vehicle Anti-Theft System Industry

The global market for vehicle anti-theft system  is being aided by the increasing car ownership in both developing and developed countries due to the inflating disposable income of the growing middle-class population. Moreover, the rising incidences of vehicle theft in emerging economies is increasing the deployment of vehicle anti-theft systems. The rising demand for vehicle anti-theft systems that can offer ease of installation to enhance their cost-effectiveness is significantly contributing to the growth of the market.

Moreover, the development of affordable vehicle anti-theft systems is expected to bolster the industry growth. The growing preference for vehicle anti-theft systems that can be customised in accordance with one’s requirement is predicted to provide further impetus to the market growth in the forecast period.

The extensive use of global positioning system (GPS) technology in vehicle anti-theft systems is propelling the market growth. As global positioning systems can provide real-time location of vehicles, it enables owners to track their vehicles and prevent theft. Moreover, the introduction of various stringent regulations regarding vehicle safety and parking in various countries is fuelling the market growth. As the demand for anti-theft systems that can detect the movement of axes of cars to provide towing alerts to owners is surging, the market is witnessing robust growth.

Vehicle Anti-Theft System: Market Segmentation

A vehicle anti-theft system is a system that prevents unwanted intrusion or theft of a vehicle while enhancing its security. It utilises various technologies to detect potential threats that can lead to the theft of vehicles, due to which it is increasingly deployed by vehicle owners. A vehicle anti-theft system can range from simple vehicle alarms to biometric capture devices.

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The major vehicle types of vehicle anti-theft systems are:

• Passenger Vehicle
• Commercial Vehicle
• Others

The market can be broadly categorised on the basis of its product types into:

• Immobilisers
• Alarm 
• Steering Lock 
• Central Locking System
• Biometric Capture Device
• Remote Keyless Entry

By technology, the market is divided into:

• Global Positioning System (GPS) 
• Global Systems for Mobile Communications (GSM) 
• Real Time Location System (RTLS) 
• Face Detection System
• Remote Frequency Identification Device (RFID)
• Automotive Biometric Technology

The EMR report looks into the regional markets of vehicle anti-theft system like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Automotive Biometric Technology to Bolster the Market Growth of Vehicle Anti-Theft System

The integration of various technological advancements in vehicle anti-theft systems are positively impacting the market growth. The deployment of automotive biometric technology to enhance the security of automotive while bolstering the convenience of users is propelling the market growth. The advent of automated vehicles is leading to a surge in the risk of cyberattacks and errors. This, in turn, is escalating the deployment of automotive biometric technology to boost the privacy of owners. Moreover, the rising use of fingerprint technology is expected to enhance anti-theft systems by recognising the fingerprints of drivers to prevent the risk of automobile theft.

The development of multi-modal technologies that scan fingerprint, iris, and facial recognition to prevent the intrusion of unauthorised persons in vehicles is projected to provide further impetus to the growth of the vehicle anti-theft system industry. In addition, leading companies are increasingly initiating various research activities to develop keyless car technology to eliminate the risk of vehicles’ theft through forged keys, which is projected to provide further impetus to the market growth in the forecast period.

Key Industry Players in the Global Vehicle Anti-Theft System Market

The report presents a detailed analysis of the following key players in the global vehicle anti-theft system market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Continental AG
• DENSO Corporation
• Hella KGaA Hueck & Co.
• Lear Corporation
• Mitsubishi Electric Corporation
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report