Global Car Security Systems Market

Description

Introduction

Car security systems are the systems used to protect the cars from theft. Due to increase in thefts of vehicles, this market has seen a considerable growth and is expected to continue growing in the forecast period. In some countries, the government regulations are such that the manufacturers are compelled to install car security systems like immobilizers in the new vehicles as standard features. Also, insurance policies are offered, which further contribute the growth of the vehicle security systems market.

End-user/Technology

The end-consumers are the OEMs and aftermarket, which manufacture the security systems and install them in the vehicles.

Various technological developments and increasing adoption of internet are contributing to the growth of this market. Some of the technologies which are being used include positioning system, real time location system, face detection system and global positioning system. 3D switchless technology is also being used in some vehicles.

Market Dynamics

Increase in the thefts of vehicles is one of the primary reasons for the growth of the car security systems market. The increasing population in the developing countries, the increasing sales of vehicles, awareness among customers and preference for reliable vehicle security systems and government regulations are some of the factors contributing to the growth of the market which is expected to be extraordinary in the forecast period. The manufacturers are increasing the deployment of security systems in new vehicles to gain a competitive advantage in the market. The replacement market is experiencing high growth due to limited life of some of the security systems. However, high cost of car security systems and their installments are some of the factors which are limiting the growth of the market for new vehicles.

Market Segmentation

The global car security systems market is segmented by product type (alarms, immobilizers, keyless entry, remote central locking and other system), sales channel (OEM and Aftermarket), car type (Economic cars, Mid-range cars and Premium cars) and region (North America, South America, Western Europe, Eastern Europe, Asia-Pacific, Middle East and Africa)

Regional/Geographic Analysis

The APAC region is expected to be the highest revenue generating and most reliable region for the growth of the car security systems market. The growth is attributed to the rising awareness among car drivers towards car safety and adoption of remote keyless entry systems. The APAC region is followed by the North America region in terms of growth, with Europe being the third in the forecast period. The increase in the demand for vehicles has significantly contributed towards the growth of the car security systems market in North America. MEA region is also expected to have steady growth in the forecast period.

Opportunities

The rising demand of consumers for various security systems like alarms, immobilizers, keyless access, remote central locking and the growing use of smart mobile applications in vehicle security systems can be seen as great opportunities for significant growth the car security systems market. Also, the technological developments which have led to an increase in the adoption of telematics can lead to a major boost in the growth of the market as it enables easy car monitoring and enhances car security.

Key Players

Some of the major players in the market include:

• Continental A.G.
• Delphi Automotive
• Robert Bosch GmbH
• Valeo S.A.
• Tokia Rika Co. Ltd.
• Lear Corporation

Other prominent players include Hella KGaA Hueck & Co., Mitsubishi Electric Corporation, Denso Corporation, Omron Corporation, Strattec Security Corporation, Witte Automotive, and Alps Electric Co. Ltd.