Immobilizers to Be the Largest Contributor to the Vehicle Security System Market

1. Technological Advancements & the Growth of the Automotive Industry are Expected to Drive vehicle security system Market The report "Vehicle Security System Market by Type, Technology, Vehicle Type (Passenger Car, Commercial Vehicles and Off-Highway Vehicles), and by Region (Asia-Pacific, Europe, North America and Rest of the World) - Industry Trends and Forecast to 2021", The global vehicle security system market by value is projected to be at USD 10.75 Billion with a CAGR of 7.2% from 2016 to 2021. The increased demand for application-based technologies and multi-factor authentication for vehicle safety are some of the key drivers fueling the growth of the global vehicle security system market. Browse 96 market data Tables and 62 Figures spread through 190 Pages and in-depth TOC on "Vehicle Security System Market by Type, Technology, Vehicle Type (Passenger Car, Commercial Vehicles and Off- Highway Vehicles), and by Region (Asia-Pacific, Europe, North America and Rest of the World) - Industry Trends and Forecast to 2021" https://www.marketsandmarkets.com/Market-Reports/automotive-security-market-184165229.html Early buyers will receive 10% customization on reports. Remote keyless entry: A promising market Remote keyless entry systems are estimated to dominate the vehicle security system market, in terms of value, in 2016. Over 70% of vehicles manufactured today are equipped with a remote keyless entry system, either as a standard or an optional feature. The growth of remote keyless entry systems can also be attributed to the growing demand for advanced, application-based technologies. Several companies have developed application-based features that enable smartphone integration in the vehicle, eliminating the need for multiple devices. Vehicles are being equipped with 3D switchless technology that includes highly integrated mobile docks and charging facilities for seamless incorporation of controls and displays. The remote keyless entry segment of the vehicle security system market, in terms of value, is projected to grow at the highest CAGR during the forecast period. Upcoming technology in the vehicle security market There has been a rapid increase in technological advancements in the automotive security market. This can be primarily attributed to the growing demand for features that increase the convenience and safety of vehicle passengers. Recent developments in passive entry systems indicate that smartphones and smartwatches will likely be incorporated into the vehicle system. This technology can also be linked with various other features to enhance the driving experience. For instance, apart from performing locking functions, it can also indicate the amount of fuel in the vehicle, maps of areas nearby, distances, and so on. Growth of Biometric technology also holds promise for tighter anti-theft and anti-DUI enforcement measures.

2. The market has been segmented on the basis of product, technology, and vehicle type (passenger cars, commercial vehicles, and off-highway vehicles). In terms of product type, the remote keyless entry and immobilizer markets are set to grow at the highest CAGRs from 2016 to 2021. On the basis of technology, the face detection system and global positioning system segments are expected to account for the largest market shares, in terms of value, in 2016. The vehicle security system market has been segmented on the basis of product type into alarm, immobilizer, remote keyless entry, passive keyless entry, and central locking system. The immobilizer segment is estimated to account for the largest market share, in terms of value, in 2016. This can be mainly attributed to the increasing installation of immobilizers in vehicles. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=184165229 The market has been segmented by technology into global positioning system, global system for mobile communication, face detection system, and real-time location system. Increasing global vehicle production and growing awareness regarding vehicle safety are the key factors driving the growth of the global market across all regions. Asia-Pacific: Largest market for vehicle security systems Asia-Pacific accounted for the largest share, in terms of value, of the global vehicle security system market in 2016. OEMs are subsequently increasing production capacity and expanding technical centers to meet the demand for these vehicles. The automotive industry in Asia-Pacific has witnessed a year-on-year increase in sales. The region is the leading producer of automobiles in the world. North America is estimated to constitute the second-largest vehicle security system market, by value, in 2016. The region is dominated by domestic OEMs such as Ford Motor Company (U.S.), General Motors (U.S.), and Fiat-Chrysler Automotive (U.S.). The large customer base and high disposable income of end-users have fueled the demand for vehicles in the country, which has resulted in increased manufacturing activities by local automotive OEMs. The European region has been segmented into Germany, France, the U.K., and Italy. Europe is estimated to account for the third-largest share in the global vehicle security system market in 2016. The report analyzes all major players in the vehicle security system market, including Robert Bosch GmbH (Germany), Continental AG (Germany), Lear Corporation (U.S.), Delphi Automotive (U.K.), and Valeo SA (France), along with numerous local players. It covers the vehicle security system market, in terms of volume (million units) and value (USD million). It explains the qualitative and quantitative aspects of the market on the basis of region, technology, product type, and vehicle type from 2016 to 2021. It also provides an overview of technical factors and other important aspects of the vehicle security system market. Request Sample: https://www.marketsandmarkets.com/requestsample.asp?id=184165229

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