TMCnet News
Increasing Sales of Passenger Vehicles Position North America as a Highly Lucrative Market for Car Security Systems: Future Market InsightsFuture Market Insights' (FMI's) latest survey presents a holistic overview of the car security system market. The survey reveals hidden growth prospects and highlights key driver favoring the demand for car security systems. It also studies growth opportunities presence across key segments including car type, product type, and sales channel DUBAI, U.A.E, Sept. 22, 2021 /PRNewswire/ -- As per the latest insights from FMI, the global car security system market is estimated to total US$ 7.6 billion by 2021. In response to the rising awareness regarding benefits of advanced security system amongst automotive owners, the sales of car security system are projected to grow at a CAGR of 5% during the forecast period, from 2021 to 2031. Demand for car security system is expected to rise by year on year (YoY) growth of 5.4% in 2021, owing to the increasing production of passenger cars and luxury vehicles. As per the German Association of the Automotive Industry, over 4.6 million passenger cars and 224,009 luxury vehicles were manufactured in Germany in 2019. These vehicles come inbuilt with these security systems, thus, rise in production of these vehicles will drive the market growth. Request a report sample to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-617 Increasing incidence of vehicle theft is a primary factor accelerating the sales of car security system. According to a preliminary study by the National Insurance Crime Bureau, automotive theft rose from 799,644 in 2019 to 873,080 in 2020, exhibiting growth by 9.2% in the U.S. This is creating a high demand for vehicle theft prevention and recovery systems such as immobilizers, alarming systems, and geological positioning system (GPS) trackers. As per FMI, the North America market is anticipated to expand at a CAGR 4.4%, due to the increasing sales of passenger cars and vehicle theft in the countries such as the U.S. and Canada. "Growing number of favorable government policies, mandating the presence of security systems in new vehicles and advancement in real-time data monitoring along with integration of telematics are expected to create opportunities for the market growth," says the FMI analyst. Key Takeaways from FMI's Car Security System Market Study
Key Drivers
Key Restraints
Competitive Landscape As per the FMI's analysis, Continental AG, Valeo, Hella, Robert Bosch, and Tokai Rika are the leading companies operating in the car security system market. Key players are investing in research and development (R&D) projects and introducting novel security systems to gain the competitive advantage over other player. For instance,
Key players in the car security system market profiled by FMI are:
More Insights on the Car Security System Market Survey The latest market study on the car security system market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global car security system market potential, its growth, trends, and opportunities, the market is segmented on the basis of: By Car Type:
By Product Type:
By Sales Channel:
By Region:
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-617 Key Questions Covered in Car Security System Market Report
Explore FMI's Extensive Coverage on Automotive Domain Electric Kick Scooter Market: The Electric Kick Scooter Market study by Future Market Insights (FMI) provides a detailed overview of the new trends while incorporating the effect of the pandemic on demand-supply pattern, and growth & restraining factors during the forecast period of 2021 to 2031. Market dynamics have been presented on the basis of prominent drivers, trends and opportunities prevailing across key geographies for the aforementioned decade. Automotive Camshaft Market: ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) provides insights driving Automotive Camshaft Market demand in latest report. Additionally, to find the effect of COVID-19 on the Automotive Camshaft Market in general, the study monitor global two-wheeler lead acid batteries sales in 20+ high-growth markets and addresses their end-user in particular. Automotive Turbochargers Market: In its new report, the Future Market Insights (FMI) offers an exhaustive overview of the global Automotive Turbochargers Market with focus on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the global Automotive Turbochargers Market structure. The market study presents exclusive information about how the market will grow during the forecast period. About Future Market Insights (FMI) Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact: Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg |