The changing dynamics in Automotive Vehicle Security Systems Market with covid-19 impact assessment
June 09, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Automotive Vehicle Security Systems Market.
It was estimated prior to this unanticipated outbreak that the Automotive Vehicle Security Systems Market will grow at 6.5% CAGR. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
For a more detailed breakdown of the COVID-19 impact on the Automotive Vehicle Security Systems Market, request a free sample of the report here: https://www.stratviewresearch.com/Request-Sample/158/automotive-vehicle-security-systems-market.html
Automotive Vehicle Security Systems Market Analysis:
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.
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.
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.
The supply chain of this market comprises raw material suppliers, vehicle security system manufacturers, distributors, and Automotive OEMs. The key automotive OEMs are Toyota, Daimler, GM, Ford, Hyundai, and Chrysler.
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.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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