The need for car security system has become more pressing during the course of time owing to the increasing number of Car thefts across the world. And it has become very essential for Car owners to embed car security system in their car to prevent them from getting stolen. As reported in the recent studies, over 370,000 cars are stolen each year in the UK and according to FBI, 699,594 motor vehicles were reported stolen in the U.S. in 2013.
The security system market is poised to show remarkable growth during the forecast period 2015-2020 owing to the increase in the production and sales of cars all over the world. Most commonly used types of car security systems include alarms, remote keyless entry (RKE), immobilizers and central locking systems. Amongst all car security type systems immobilizer is anticipated to show considerable growth in coming years due to the advanced features offered by this system. In few countries like Germany, Brazil and U.K. the installation of immobilizer system has already been mandated for cars.
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Car Security System: Drivers & Restraints
Car security system market is likely to show aggressive growth during the forecast period 2015-2020 and will be driven by some major driving forces such as government regulations, customers demand for reliable and effective car security system, requirement from insurance companies, increased car thefts and growing awareness about car security system among consumers.
However, high cost of car security system might prove to be a big restraint for global car security system market.
Car Security System: Market Segmentation
The car security system market is broadly classified into four segments by types
- Remote keyless entry (RKE)
- Central locking
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The car security system market is broadly classified into six segments by technology
- Global Positioning System (GPS)
- Global System for Mobile Communication (GSM)
- Face Detection System (FDS)
- Radio Frequency Identification (RFID)
- Real Time Location System (RTLS)
Car Security System: Regional Outlook
Depending on geographic regions, global endoscopy visualization systems and components market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Amongst all regions Asia Pacific is estimated to be the largest market during the forecast period owing to the increased car sale in countries with highest population such as China and India in this region. Western Europe is anticipated to be the second largest market and is likely to show strong potential for Car security system. Car security system is already mandated for each newly produced cars in some of the Western European countries such as Germany, U.K. and Finland. Among all Countries in this region Germany is the largest market due to the compulsory adoption of security system such as immobilizers, RKE and alarms. North America region is also poised to show strong opportunities for car security system market especially in United States.
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Car Security System: Market Players
The key market players operating in car security system are, Alps Electric (Japan), Continental (Germany), Delphi Automotive ( United Kingdom), Mitsubishi Electric (Japan), Bosch (Germany), TRW Automotive (United States of America), HELLA (Germany), Lear Corporation (Michigan), Tokai Rika Co. Ltd. (Japan), and others.
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Mr. Sudip Saha