Car Security Systems Market Scope
The increasing number of cars with the growing expansion of urban areas and growing advancement in car security systems are the major factors driving the global car security systems market growth. Raising awareness about car security devices and their benefits and ongoing research and developments on developing highly secure car security systems create opportunities for market growth during the forecast period.
The Car Security Systems market study is segmented by Type (Alarms, Tracking Systems, Immobilizing Devices and Others), by Application (Economic Cars, Mid-Range Cars, Premium Cars, Luxury Cars, Executive Cars and Others) and major geographies with country level break-up.
Global Car Security Systems is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Services and Devices for car security. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Alps Electric Co., Ltd. (Japan), Continental AG (Germany), OnStar Corporation (General Motors) (United States), Ford Motor Company (United States), Hyundai Motor Company (South Korea), Fiat Chrysler Automobiles N.V. (United States), DENSO Corporation (Japan), Robert Bosch GmbH (Germany), Daimler AG (Germany) and Omron Corporation (Japan) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Car Security Systems market by Type, Application and Region.
On the basis of geography, the market of Car Security Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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).
Market Leaders and their expansionary development strategies
On 18th January 2022, Ford Motor Company and ADT will invest in a new joint venture called Canopy that combines ADT’s professional security monitoring and Ford’s AI-driven video camera technology to help customers strengthen the security of new and existing vehicles across automotive brands. Canopy will build and sell its first product and subscription service early next year to protect cargo areas of high-volume commercial trucks and vans in the United States and the United Kingdom and it expects to expand its offering to other manufacturers over time
On 23rd August 2021, Alps Electric Co., Ltd. launched Location Monitoring System for car rental operators that use special onboard connected drive recorders for positioning. The system contributes to efficiency improvements by allowing operators to ascertain the location of rental vehicles in real-time via a location management console. With demand for drive recorders growing, pairing them with the Location Monitoring System will help to reduce initial costs borne by customers.
The National Highway Traffic Safety Administration (NHTSA) of the United States has imposed regulation for manufacturers "to label their vehicle's major components parts—called parts-marking—with the vehicle identification number (VIN) unless the vehicle line is granted an exemption. An exemption may occur if an antitheft device has been installed by the manufacturer as standard equipment on the entire vehicle line. Parts-marking has been shown to help reduce and deter motor vehicle theft, as well as help law enforcement authorities, identify, trace and recover parts from stolen motor vehicles which ultimately helps with prosecuting the crime."
Market Trend
- Increasing Prevalence of IoT Sensors in the Car Security Systems
- Introduction to Highly Advanced Security Systems enabled with Biometrics
Market Drivers
- Rising Car Theft Issues across the Globe
- Lucrative Business Growth due to Growing Disposable Incomes across the Globe
Opportunities
- Continuous Research and Development in Car Security Systems
- Robust Demand for Automobiles from the Asia Pacific region
Restraints
- High Maintenance Cost Associated with the Car Security Systems
- Stringent Regulatory Guidelines Regarding the Car Security Systems
- Risk of Car Security Component Failure might Damage the Overall Systems
Challenges
- Complexities Involved with Installation of Car Security Devices
- Rising Instance of Cyber Thefts across the Globe
Key Target Audience
Car Security Systems Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others