Stolen Vehicle Recovery Systems Market Expected to Steady 2022-2030

Description

According to the Market Statsville Group (MSG), theglobal stolen vehicle recovery systems market size is expected to grow from USD 12,304.8 million in 2021 to USD 23,005.3 million by 2030, at a CAGR of 7.2% from 2022 to 2030. The stolen vehicle security system effectively eradicates the chances of vehicle theft with the help of various components, such as a remote keyless entry system, central locking system, automatic collision detection system, and ultrasonic intruder protection system (UIP).

In addition, an increasing level of spending by individual end-users on automotive telematics, especially in the Asia-Pacific region, and greater awareness of more recent technologies contribute to the growth of the stolen vehicle tracking system market.

Global Stolen Vehicle Recovery Systems Market Definition

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A stolen vehicle recovery device is an anti-theft device that enables users to locate their vehicle if it is lost. The device itself doesn’t prevent the user's car from being stolen. However, it can help clients recover it safely if it falls into the wrong hands.

Radiofrequency technology embedded in vehicle recovery systems helps law enforcement officers to locate and recover the vehicle. When users report a car theft to the police, special computers send radio signals to the stolen vehicle. These radio signals will activate the car's vehicle recovery system and send the location to police computers, making it easier to recover the vehicle.

Scope of the Global Stolen Vehicle Recovery Systems Market

The study categorizes the Stolen Vehicle Recovery Systems market based on component, vehicle, and technology at the regional and global levels.

By Component (Revenue, USD Million, 2017-2030)

• Ultrasonic Intruder Protection System (UIP)
• Backup Battery Siren (BBS)
• Central Locking System
• Automatic Collision Detection System
• Automatic Driver Recognition System (ADRS)
• Remote Keyless Entry System
• Others

By Vehicle type (Revenue, USD Million, 2017-2030)

• Passenger Vehicle
• Commercial Vehicles

By Technology (Revenue, USD Million, 2017-2030)

• Ultrasonic
• Radio Frequency Identification
• Others

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By Region Outlook (Revenue, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The radiofrequency Identification segment is witnessed to account for the highest market share by technology

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Based on the technology, the global stolen vehicle recovery systems market is divided into ultrasonic, radio frequency identification (RFID), and others. In 2021, the radio frequency identification segment accounted for the highest market share in the market. RFID is a wireless technology consisting tags and readers. The reader emits radio waves and receives signals from the RFID tag via one or more antennas. A radio frequency signal activates the vehicle as a key sensor. When the tag sensor detects that a driver does not have permission to operate the vehicle, it locks the vehicle. Thus, RFID is suitable and highly in demand for vehicle safety applications due to its wide range.

Asia-pacific accounts for the highest CAGR during the forecast period

Globally, Asia-pacific is estimated to hold the highest CAGR in the global stolen vehicle recovery systems market during the forthcoming period, owing to the growing automotive prodution facilities in the region. There is an increase in demand in the forecast period for automobiles, particularly in China and India.

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Key Market Players in the Global Stolen Vehicle Recovery Systems Market

• 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

Article source: https://article-realm.com/article/Finance/22772-Stolen-Vehicle-Recovery-Systems-Market-Expected-to-Steady-2022-2030.html