Automotive Vehicle Security System Market to offer a healthy CAGR of 6.5% during 2016-21
February 13, 2020
Automotive Vehicle Security System Market Overview:
The global automotive security systems market offers a good growth opportunity and is expected to witness 6.5% CAGR during the forecast period of 2016 to 2021. Increasing automotive production, stringent vehicle theft prevention regulations, focus on high comfort and convenience, and customers’ demand of high security vehicles are the major drivers of the global automotive vehicle security systems market.
Report Overview:
This report, from Stratview Research, studies the global vehicle security systems market in the automotive industry over the period 2010 to 2021. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Automotive Vehicle Security System Market Segment Insights:
Passenger Car: The growth engine
Passenger car segment is expected to remain the largest segment in the vehicle security systems market during the forecast period. High demand of comfort and security, and increasing car production will drive the demand of the vehicle security systems in the passenger car segment.
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https://www.stratviewresearch.com/toc/158/automotive-vehicle-security-systems-market.html
Dominance of: Immobilizer & Remote Keyless Entry System
Immobilizers occupied major share in the global vehicle security systems market in 2015. An engine immobilizer is a very simple circuit and is currently incorporated in 100% of the vehicles either as a standard and as optional feature.
Remote keyless entry (RKE) system has been experiencing robust growth since the last decade and will continue to be the most dominating keyless entry system type in the next five years. However, demand of more secure and convenient systems has resulted in the development of the passive keyless entry system (PKE). PKE system is expected to witness the fastest growth in the next five years.
A highly/moderately/fragment consolidated Market
The global automotive vehicle security systems market is a consolidated market and is dominated by a few large players. The key vehicle security system manufacturers for the global automotive industry are Continental AG, Robert Bosch, Hella Group, Delphi, Lear Corporation, Valeo, TRW Automotive, Alps Electric and Mitsubishi Electric Corporation. New product development, capacity expansion and regional expansion are the key strategies adopted by the key players to gain competitive edge in the market.
Regional Hegemony of Asia-Pacific
Asia-Pacific is expected to be the growth engine of the global automotive vehicle security systems market in the next five years, driven by emerging economies, such as China and India. China is the world’s largest automotive market with good growth potential in the next five years. Increasing disposable income and demand of high security featured vehicles has spurred the growth of efficient security system in this region. All the major security system manufacturers are targeting the Asia-Pacific region and increasing manufacturing capacity to tap the growth potential.
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