What is Stolen Vehicle Recovery Market?
Stolen vehicle recovery systems are intended to protect the user’s high-value vehicles so that they get back quickly. It is a combination of technologies to keep real-time tabs on the position of a vehicle or to construct a history of where a vehicle has been. Most of these systems use GPS technology and some also make use of cellular or radio transmitters. On 2nd May 2019, CalAmp, brand owner of LoJack and TransUnion has announced the launch of LoJack Stolen Vehicle Recovery (SVR) services for insurance carriers aimed at significantly reducing stolen vehicle losses, improving risk management and increasing vehicle recovery rates for consumers.
The market study is being classified, by Application (Passenger Car and Commercial Vehicle) and major geographies with country level break-up.
HELLA GmbH & Co. KGaA (Germany), Robert Bosch GmbH (Germany), Valeo (France), Continental AG (Germany), Denso Corporation (Japan), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), ALPS Alpine Co., Ltd (Japan), Tokairika, Co, Ltd (Japan), Lear Corporation (United States) and CalAmp (United States) are some of the key players profiled in the study.
Research Analyst at AMA predicts that Japanese Players will contribute to the maximum growth of Global Stolen Vehicle Recovery market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Stolen Vehicle Recovery market by Type, Application and Region.
On the basis of geography, the market of Stolen Vehicle Recovery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Incidences of Vehicle Theft
- Growing Awareness among the Consumers about Vehicle Safety
- Increased Accuracy in the Vehicle Recovery Systems
Market Trend
- High Demand for Innovative Products
Restraints
- High Cost of the Stolen Vehicle Systems
Opportunities
- Technological Advancements in the Stolen Vehicle Recovery Systems
- Growing Automobile Industry Worldwide
Challenges
- Potential Failure of Electronic Components
Market Leaders and some development strategies
Recently, Bosch Group completed its acquisition of ZF Friedrichshafen AGs 50-percent share in the joint venture ZF Lenksysteme GmbH (ZFLS). and On 2nd October 2017, OMRON Corporation has announced the completion of its acquisition of Microscan Systems, Inc.
Key Target Audience
Stolen Vehicle Recovery System Providers, Research Professionals, Emerging Companies, Distributors, Government Body & Associations and End-user