The Global Stolen Vehicle Recovery Systems is presently worth USD 12, 304.8 million and is poised to amplify at a CAGR of 7.2% over 2022-2030, thereby amassing a valuation of USD 23,005.3 million by end of the assessment timeline.
Global Stolen Vehicle Recovery Systems Market: Overview
A stolen vehicle recovery device is defined as an anti-theft device that allows users to locate their vehicle if it is lost.
Also, the device itself does not prevent the user’s car from being stolen. But, one can help customers get it back safely if it falls into the wrong hands.
Also, the radio frequency technology that has been built into vehicle recovery systems helps law enforcement officers locate and recover the vehicle.
However, these radio signals have activated the car’s vehicle recovery system and will also send the location to police computers that will make it easier to recover the vehicle.
Key market trends:
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rising level of spending by the customers on automotive industry.
Also, there has been an increased awareness about the new technologies over the forecast period among the customers throughout the world.
Additionally, the stolen vehicle recovery system has also effectively eradicated the chances of vehicle theft with the help of various components that includes, a remote keyless entry system, a central locking system, an automatic collision detection system and Ultrasonic Intrusion Protection (UIP). All these factors have boosted the market growth over the forecast period.
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Segmental analysis of the Market:
Based on Components
- Ultrasonic Intrusion Protection System (UIP)
- Battery Backup Siren (BBS)
- Central Locking
- System Automatic Collision Detection
- System Automatic Driver Recognition System (ADRS)
- System Remote Keyless Entry
- Others
The Ultrasonic Intrusion Protection System (UIP) segment has dominated the market growth over the forecast period.
Based on Vehicle type
- Passenger
- Vehicle Commercial Vehicles
The passenger vehicle type has dominated the market growth over the forecast period.
Based on Technology
- Ultrasonic
- Radio Frequency Identification
- Other
The ultrasonic segment has dominated the market growth over the forecast period.
Asia Pacific is anticipated to amplify at a considerable CAGR
The Global Stolen Vehicle Recovery Systems Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because of rising automobile production facilities in the region. There is also an increase in demand in the forecast period for cars, mainly in China and India.
Competitive Landscape:
Some of the prominent companies operating in the market are
- HELLA GmbH & Co.
- KGaA
- Robert Bosch GmbH
- Valeo
- Continental AG
- Denso corporation
- mitsubishi electric corporation
- omron corporation
- ALPS Alpine Co., Ltd.
- Tokairika, Co., Ltd.
- lear corporation
- spireon
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Major questions answered in this report:
- What is the growth rate of the Global Stolen Vehicle Recovery Systems Market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Key takeaways from the report:
- The Global Stolen Vehicle Recovery Systems Market is projected to expand at a CAGR of 7.2% over the forecast period.
- The rising level of spending by the customers on automotive industry is aiding market progression.
- The passenger vehicle segment is poised to expand significantly over the forecast period.
- Asia Pacific has dominated the regional market sphere over the forecast period.
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