Car Security System Market size was over USD 8.44 Billion in 2023 and is expected to exceed USD 16.93 Billion by the end of 2036, growing at over 5.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of car security system is evaluated at USD 8.86 Billion. The growth of the market is primarily attributed to the increasing motor vehicle production around the globe. Additionally, the growing use of electric vehicles should soon raise demand for autonomous car security systems. According to the International Organization of Motor Vehicle Manufacturers (OICA), motor vehicle production rose globally from 583,74,162 units in 2000 to 917,86,861 vehicles in the year 2019.
Car security systems are essential tools for preventing theft and keeping the vehicle protected from unauthorized individuals. In addition, car security systems have significantly reduced car thefts worldwide due to their security features such as sound alarms, shock sensors, central locking, and immobilizers. Several advanced car security systems are available on the car security system market today that are making vehicles safer than ever. These include the Avital 5103 and Eclipse 360-degree vehicle surveillance security systems. The installation of a car security system can be accomplished in almost all types of vehicles, including low-passenger cars, heavy vehicles, and light vehicles. Moreover, increasing awareness about the benefits of security systems, technologically advanced automotive electronics, and automatic operating functions have boosted the popularity of security system installations in cars, and the rapid growth in the urban population is anticipated to drive the car security system market growth during the forecast period. According to World Bank data, 57% of the global population is designated as an urban population which is equal to nearly 4.5 million individuals. This number is expected to double shortly after 7 out of 10 people live in urban settlements.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.5% |
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Base Year Market Size (2023) |
USD 8.44 Billion |
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Forecast Year Market Size (2036) |
USD 16.93 Billion |
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Regional Scope |
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Vehicle Type (Passenger Car, Light Commercial Vehicle, Premium Cars)
The global car security system market is segmented and analyzed for demand and supply by vehicle type into passenger cars, light commercial vehicles, and premium cars. Among these segments, the passenger car segment is anticipated to capture the largest market size in the global car security system market owing to the increasing sales of passenger cars along with the rapid expansion of the passenger car market. For instance, the passenger car market in India is considered for USD 32 billion in the year 2021 and is estimated to garner revenue of USD 54 billion by the end of 2027 growing at a CAGR of over 8%. Furthermore, the growing number of passenger cars being stolen per year, and higher purchasing of passenger cars with security systems are anticipated to augment segment growth over the forecast period.
Our in-depth analysis of the global car security system market includes the following segments:
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By Vehicle Type |
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By Sales Channel |
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By Product Type |
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By Technology |
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North America Market Forecast
The North America car security system market, amongst the market in all the other regions, is projected to hold the largest car security system market share by the end of 2036 backed by the increasing sales of luxury cars in developed countries. It was observed that in the United States, a luxury car manufacturer reported 2021 sales of more than 330,600 vehicles in 2021. Moreover, the increasing disposable income, a growing desire to buy high-maintenance security cars along with rapid manufacturing of luxury cars with innovative and technologically advanced security systems are anticipated to drive the regional car security system market growth during the forecast period.
Qualcomm Technologies, Inc. and Alps Alpine Co., Ltd. announced the launch of ViewPose, a new camera-based sensing and positioning device, which supports virtual vehicle positioning in all environments.
Mitsubishi Electric Corporation announced ClariSense integrated Internet of Things (IoT) technology, to be utilized for accelerated development of IoT systems construction inside the company.
Author Credits: Saima Khursheed
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