Update News: Increasing Vehicle Thefts To Boost The Vehicle Security System Market

  • According to the new market research report “Vehicle Security System Market by Product Type (Immobilizers, Alarm System, Tracking System, Central Locking System, Remote Keyless Entry and Others), by Technology (Global Positioning System (GPS), Global System for Mobile (GSM), Real-Time Location Systems (RTLS), Biometric System, Face Detection System and Others), by Vehicle Type (Passenger Cars, Light-Duty Vehicle, and Heavy-Duty Vehicle ), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2019 to 2027)”, the vehicle security system market is estimated to reach around USD 14.5 Billion by 2027 at a CAGR of around 7.4% during the review period
  • Rising vehicle thefts is a key factor driving the demand for the vehicle security system market
  • However, the high cost of advanced security system remains a major restraining factor for the market growth
  • Any safety failures result in severe injury and loss of life. Government regulations have come up with strict vehicle safety and security standards. Hence, rising road accidents worldwide are propelling the demand for the vehicle security system
  • Increasing incidents regarding vehicle thefts have increased adoption towards vehicle safety systems
  • Growing adoption of a biometric system is anticipated to boost the vehicle security system market in the future
  • Rise in cybersecurity threats is likely to act as a challenge for market growth
  • Asia-Pacific
  • Europe
  • Lear Corporation:
  • Robert Bosch GmbH:

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DataBridge Market Research

DataBridge Market Research

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach

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