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Automotive Vehicle Security Systems Market Size, Share & Forecast (2016-2021) | Covid-19 Impact Analysis
Automotive Vehicle Security Systems Market is Segmented by Vehicle type (Passenger Car, Light Duty Vehicle, and Medium & Heavy-Duty Vehicle), by System Type (Remote and Passive), by End Market (OEMs and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The usage of the vehicle security system in the global automotive industry has gradually increased over the period of time. Demand for high security due to increasing car theft instances across the globe is creating the need for efficient vehicle security systems. Today, almost all the major automakers are offering vehicle security systems for their vehicles either as a standard or an optional feature. The vehicle security system not only provides security but also enhances the passenger’s convenience level.
The global automotive security systems market offers a good growth opportunity and is expected to witness 6.5% CAGR during the forecast period of 2016 to 2021. Increasing automotive production, stringent vehicle theft prevention regulations, focus on high comfort and convenience, and customers’ demand of high security vehicles are the major drivers of the global automotive vehicle security systems market.
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Immobilizers occupied major share in the global vehicle security systems market in 2015. An engine immobilizer is a very simple circuit and is currently incorporated in 100% of the vehicles either as a standard and as optional feature.
Remote keyless entry (RKE) system has been experiencing robust growth since the last decade and will continue to be the most dominating keyless entry system type in the next five years. However, demand of more secure and convenient systems has resulted in the development of the passive keyless entry system (PKE). PKE system is expected to witness the fastest growth in the next five years.
Passenger car segment is expected to remain the largest segment in the vehicle security systems market during the forecast period. High demand of comfort and security, and increasing car production will drive the demand of the vehicle security systems in the passenger car segment.
Asia-Pacific is expected to be the growth engine of the global automotive vehicle security systems market in the next five years, driven by emerging economies, such as China and India. China is the world’s largest automotive market with good growth potential in the next five years. Increasing disposable income and demand of high security featured vehicles has spurred the growth of efficient security system in this region. All the major security system manufacturers are targeting the Asia-Pacific region and increasing manufacturing capacity to tap the growth potential.
The supply chain of this market comprises raw material suppliers, vehicle security system manufacturers, distributors, and Automotive OEMs. The key automotive OEMs are Toyota, Daimler, GM, Ford, Hyundai, and Chrysler.
The global automotive vehicle security systems market is a consolidated market and is dominated by a few large players. The key vehicle security system manufacturers for the global automotive industry are Continental AG, Robert Bosch, Hella Group, Delphi, Lear Corporation, Valeo, TRW Automotive, Alps Electric and Mitsubishi Electric Corporation. New product development, capacity expansion and regional expansion are the key strategies adopted by the key players to gain competitive edge in the market.
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Trend & Forecast Period
6.5% CAGR during 2016-2021
North America, Europe, Asia-Pacific, Rest of the World
Figures & Tables
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The market is segmented in the following ways:
Automotive Vehicle Security Systems Market Size, Share & Forecast by Vehicle Type:
Automotive Vehicle Security Systems Market Size, Share & Forecast by Product Type:
Automotive Vehicle Security Systems Market Size, Share & Forecast by Technology Type:
Automotive Vehicle Security Systems Market Size, Share & Forecast by End-Use Type:
Automotive Vehicle Security Systems Market Size, Share & Forecast by Region:
This report, from Stratview Research, studies the global vehicle security systems market in the automotive industry over the period 2010 to 2021. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Driven by a number of factors like Increasing automotive production, the vehicle security systems market is projected to grow at 6.5% CAGR during 2016-2021.
Asia-Pacific is expected to be the growth engine of the global automotive vehicle security systems market in the next five years, driven by emerging economies, such as China and India.
Continental AG, Robert Bosch, Hella Group, Delphi, Lear Corporation, Valeo, TRW Automotive, Alps Electric and Mitsubishi Electric Corporation. are among the key players in the Vehicle Security Systems Market.
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