Vehicle Anti-Theft System Market worth 11.64 Bn USD by 2021

Friday 14 October 2016, Amsterdam

The report, now available on ASDReports, "Vehicle Anti-Theft System Market by Product (Steering Lock, Alarm, Biometric Capture Device, Immobilizer), Technology (GPS, GSM, RTLS), Vehicle Type (Passenger Car, Commercial Vehicle, Off-Highway Vehicle), and Region - Global Forecast to 2021", The vehicle anti-theft system market is estimated to be USD 8.33 Billion in 2016, and is projected to grow to USD 11.64 Billion by 2021, at a CAGR of 6.92%. The growing demand for multifactor authentication and technological advancements in vehicle anti-theft systems are some of the key factors fueling the growth of this market.

Face detection systems to hold the largest share in the vehicle anti-theft system market, by technology
The face detection system (FDS) segment is estimated to account for the largest share in the vehicle anti-theft system market. FDS is currently being incorporated in vehicles to prevent drunk driving. The system is used to monitor the drivers state of consciousness through eye movement. It also identifies an authorized vehicle-user based on a facial recognition system. Additionally, the vehicle immobilizer system sends a message to the registered phone number of the vehicle-user in case of any discrepancy. These features are increasing the demand for this technology.

Immobilizers: A promising market due to stringent safety regulations
The immobilizer segment is estimated to hold the largest share in the vehicle anti-theft system market, by product. Mandatory installation of immobilizers has drastically reduced thefts in various countries. The growing demand for safety features as a result of government regulations has boosted the market for immobilizers.

Asia-Pacific: Largest market for vehicle anti-theft systems
Asia-Pacific is estimated to account for the largest share, in terms of value, of the vehicle anti-theft system market in 2016. The demand for anti-theft systems in this region is triggered by the growing population in urban areas. The automotive industry in Asia-Pacific has witnessed a year-on-year increase in sales. The region is also the leading producer of automobiles in the world.

The report analyzes all major players in the vehicle anti-theft system market, including Robert Bosch GmbH (Germany), Continental AG (Germany), Lear Corporation (U.S.), and ZF-TRW (U.S.).