Passenger Car Security Systems Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR70284
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The passenger car security systems market size has the potential to grow by USD 678.81 million during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 1.90%. 

This report provides a detailed analysis of the market by product (immobilizer, central lock system, alarm system, and RKE and others), geography (APAC, North America, Europe, South America, and MEA), and key vendors. 

Market Overview

Passenger-Car-Security-Systems-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Alps Alpine Co. Ltd.
  • Continental AG
  • DENSO Corp.
  • HELLA GmbH & Co. KGaA
  • Lear Corp.
  • Mitsubishi Electric Corp.
  • Robert Bosch GmbH
  • Tokai Rika Co. Ltd.
  • Valeo SA
  • ZF Friedrichshafen AG

 

The passenger car security systems market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the emergence of connected cars to achieve growth opportunities. However, factors such as the high cost of premium security features will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the passenger car security systems market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This passenger car security systems market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Passenger Car Security Systems Market: Key Drivers and Trends

  • The rising adoption of biometric technology in vehicles has been identified as a critical passenger car security systems market trend that will have a positive impact on the growth of the market.
  • Market vendors are exploring the applications of biometric technology in vehicle access, ignition permission, anti-theft systems, and onboard communication program in automobiles.
  • Although biometric systems are considered as a feature for luxury and high-end cars, its adoption is set to increase in mass mid-segment cars in the next five years.
  • The increasing adoption of connected cars is a significant factor driving the passenger car security systems market growth. 
  • Advancements in IoT technology have enabled the development of connected cars. These cars can communicate with each other as well as other non-automotive devices.
  • The software in connected cars is vulnerable to malware attacks and hacking, which can result in car and data theft.
  • Car manufacturers are integrating security systems such as access control systems, immobilizers, interactive radio-wave remote control, and remote keys into their vehicles.

 

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Passenger Car Security Systems Market: Segmentation by Geography

Passenger-Car-Security-Systems-Market-Market-Share-by-Region-2020-2025

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85% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for passenger car security systems in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and North America.

The increase in car sales and the presence of well-established car manufacturers will facilitate the passenger car security systems market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Passenger Car Security Systems Market: Segmentation by Product

Passenger-Car-Security-Systems-Market-Market-Share-by-Product-2020-2025

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An immobilizer is an electronic device fitted in a car that prevents the engine from running unless the correct transponder car key is present. In 2020, the US implemented a rule to exempt vehicles equipped with immobilizers from the vehicle theft prevention standard. Therefore, OEMs currently offer car immobilizers as standard fitments in a car. This has led to the growth of the immobilizers segment in the car industry. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the passenger car security systems market size.

 

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Passenger Car Security Systems Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive passenger car security systems market growth during the next five years
  • Precise estimation of the passenger car security systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the passenger car security systems industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of passenger car security systems market vendors

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Passenger Car Security Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 2%

Market growth 2021-2025

$ 678.81 million

Market structure

Concentrated

YoY growth (%)

2.15

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 85%

Key consumer countries

China, US, Japan, India, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alps Alpine Co. Ltd., Continental AG, DENSO Corp., HELLA GmbH & Co. KGaA, Lear Corp., Mitsubishi Electric Corp., Robert Bosch GmbH, Tokai Rika Co. Ltd., Valeo SA, and ZF Friedrichshafen AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The passenger car security systems market growth will increase by $678.81 million during 2020-2025.
The passenger car security systems market is expected to grow at a CAGR of 1.90% during 2020-2025.
Technavio has segmented the passenger car security systems market by product (Immobilizer, Central lock system, Alarm system, and RKE and others) and geographic (APAC, North America, Europe, South America, and MEA).
Alps Alpine Co. Ltd., Continental AG, DENSO Corp., HELLA GmbH & Co. KGaA, Lear Corp., Mitsubishi Electric Corp., Robert Bosch GmbH, Tokai Rika Co. Ltd., Valeo SA, ZF Friedrichshafen AG are a few of the key vendors in the passenger car security systems market.
APAC will register the highest growth rate of 84.87% among the other regions. Therefore, the passenger car security systems market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the passenger car security systems market growth are:
  • Increase in car thefts
The passenger car security systems market vendors should focus on grabbing business opportunities from the immobilizer segment as it accounted for the largest market share in the base year.
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