Car Security Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Car Security Systems Market is Segmented by Type (Alarm, Keyless Entry, Immobilizer, Central Locking, and Other Types), and Geography.

Market Snapshot

car security systems market
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

>5.5 %

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Market Overview

The car security systems market is anticipated to register a CAGR of over 5.5%, during the forecast period (2020 - 2025).  

  • Along with the increase in car sales year by year, the cases of car theft have also risen around the world, as a result, people are becoming more aware of car security systems.
  • Government orders/rules on vehicle security play an important role in the expansion of the market. Many emerging markets, including that of Brazil and Malaysia, have legislation that mandates the presence of immobilizers in every car produced.
  • However, the theft incidents are still high and theft numbers are concentrated among entry-level cars that have basic security systems. The incidence of theft among luxury cars that have state-of-the-art security systems is relatively less, pointing toward the advantages of having modern security systems in the car. 
  • The trend of remote keyless entry systems is catching on in the Asia-Pacific region and is expected to give manufacturers ample opportunity for the growth. Hyundai Motors India Ltd was the first automobile company to introduce remote keyless entry (RKE) or car immobilizers in their economy or budgeted cars, like Hyundai i20 and Verna. However, this technology is only available in the higher variants of the cars and not the basic models.

Scope of the Report

The car security systems market has been segmented by type and geography.

Type
Alarm
Keyless Entry
Immobilizer
Central Locking
Other Types
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa

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Key Market Trends

Growing Technological Advancements in Car Security Fueling the Market

As per the FBI reports, globally, a car is stolen every 23 seconds on average. It takes less than a minute to steal most vehicles successfully, and car thieves are getting increasingly sophisticated with their methods, due to which vehicle and car security system manufacturers are launching and continuously developing best car security technologies. Recent technologies, like tracking systems, passive immobilizers, and personal alarm pagers, all offer high-tech alternatives or add-ons to the traditional alarm that makes the car much harder to steal and easier to recover.

Another technology that is driving the car security market is RFID-Blocking Key Sleeves. In this technology, the vehicle will have RFID reader inside the car, beside the driver seat, and once the driver enters the vehicle, driver has to keep the RFID tag in RFID reader for clearing the security check. If the RFID tag is matched, only then the vehicle ignition will be on, otherwise alert signal will be sent to the car owner, along with location, with the help of GPS and GSM - GPS for location identification and GSM for message sending, and the car will make emergency sounds with a buzzer, and engine ignition, and fuel pump will get off with help of a relay.

Car Security Systems Market_Type

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North America - Leading the Car Security System Market

Geographically, the market is led by North America, and followed by Asia-Pacific and Europe. The growing The North American region is expected to witness significant growth during the forecast period. This growth of car security systems in the region can be attributed to the presence of affluent buyers, and this is expected to propel the demand for vehicles in this region. As per the 2018 FBI Uniform Crime Report, a total of 748,841 vehicle thefts have been registered in the United States representing a 3.11% decline in the vehicle thefts compared to 2017. This decrease is mainly due to the increased penetration of security systems in new vehicles launched in the market.

  • According to the National Insurance Crime Bureau, there is one auto theft happening in the United States every 6.5 minutes, amounting to 156 auto thefts every day.

However, the numbers are still high, despite the advancements in technology. A major number of car thefts in the country can be attributed to the negligence from part of the drivers.

  • Apart from this, with the inclusion of advanced car security systems, thieves are continually devising new and sophisticated means of stealing vehicles, such as switching vehicle identification numbers, acquiring smart keys, eliminating hot-wiring, and using stolen identities to secure loans for expensive vehicles

The growing capacity of vehicle production in the Asia-Pacific region, and the increasing number of exports of automobiles are acting as the major factors behind the growth of the regional market. The aftermarket industry is also growing in the Asia-Pacific region, which, in turn, is driving the growth of the car security system market.

Car Security Systems Market_Geography

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Competitive Landscape

The market is majorly dominated by major players, such as Robert Bosch GmbH, Continental AG, Hella GmbH & Co. KGaA, TOKAIRIKA CO. LTD, and ALPS ALPINE CO. LTD, among others. The companies are majorly investing in R&D projects and launching new car security technologies. For instance, Bosch developed a digital key, a Perfectly Keyless app, which will replace the analog vehicle key with a smartphone. 

Continental continues to work toward developing digital vehicle keys for automated driving and mobility solutions, such as car-sharing and fleet services. This calls for innovative vehicle access systems in automotive, as conventional vehicle keys will cease to be inadequate for the mobility concepts of the future. As a result, the company has expanded its smart access solution for convenient vehicle access via smartphone, to offer drivers a complete package of services.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Alarm

      2. 5.1.2 Keyless Entry

      3. 5.1.3 Immobilizer

      4. 5.1.4 Central Locking

      5. 5.1.5 Other Types

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Rest of Asia-Pacific

      4. 5.2.4 Rest of the World

        1. 5.2.4.1 South America

        2. 5.2.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 ALPS ALPINE CO. LTD

      2. 6.2.2 Robert Bosch GmbH

      3. 6.2.3 Continental AG

      4. 6.2.4 Clifford (Directed Inc.)

      5. 6.2.5 Delphi Technologies

      6. 6.2.6 HELLA GmbH & Co. KGaA

      7. 6.2.7 Lear Corporation

      8. 6.2.8 Mitsubishi Electric Corporation

      9. 6.2.9 TOKAI RIKA CO. LTD

      10. 6.2.10 Valeo

      11. 6.2.11 Viper Security Systems (Directed Electronics)

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Car Security Systems Market market is studied from 2018 - 2026.

The Car Security Systems Market is growing at a CAGR of >5.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • ALPS ALPINE CO. LTD
  • Robert Bosch GmbH
  • Continental AG
  • Hella GmbH & Co. KGaA
  • TOKAI RIKA CO. LTD

Are the major companies operating in Car Security Systems Market.

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