What is Global Passenger Car Security Systems Market?
The Global Passenger Car Security Systems Market is a comprehensive study of the various systems designed to ensure the safety and security of passenger cars worldwide. This market encompasses a wide range of products and technologies, from basic car alarms to advanced biometric systems. The primary goal of these systems is to deter theft and unauthorized access, while also providing convenience and peace of mind to car owners. The market is driven by the increasing incidence of car thefts globally, as well as the growing consumer demand for advanced security features in their vehicles. However, the market also faces challenges such as high costs of advanced security systems and concerns about the reliability and effectiveness of these systems. Despite these challenges, the market is expected to grow steadily in the coming years, driven by technological advancements and increasing consumer awareness about car security.
Immobilizer, Remote Keyless Entry (RKE), Passive Keyless Entry (PKE), Passive Keyless Go (PKG) in the Global Passenger Car Security Systems Market:
The Global Passenger Car Security Systems Market includes several types of systems such as Immobilizer, Remote Keyless Entry (RKE), Passive Keyless Entry (PKE), and Passive Keyless Go (PKG). An immobilizer is a type of electronic security device fitted to an automobile that prevents the engine from running unless the correct key (or other token) is present. This prevents the car from being "hot wired" after entry has been achieved. RKE, on the other hand, is a lock that uses an electronic remote control as a key which is activated from a distance. PKE is a feature in a car where the driver can lock and unlock the doors without touching the car. PKG is a system that automatically unlocks the doors of a car as the user approaches and locks them as the user walks away. These systems offer different levels of security and convenience, and their adoption varies depending on factors such as cost, consumer preference, and regional regulations.
OEM, Aftermarket in the Global Passenger Car Security Systems Market:
The Global Passenger Car Security Systems Market is used in various areas such as OEM and Aftermarket. Original Equipment Manufacturer (OEM) refers to the company that originally manufactured the product. When referring to automotive parts, OEM designates a replacement part made by the manufacturer of the original part. In this context, OEM car security systems are those that are installed in the car at the time of manufacture. On the other hand, the aftermarket refers to the secondary market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer. Aftermarket car security systems are those that are installed in the car after it has been purchased, either by the car owner or by a professional installer.
Global Passenger Car Security Systems Market Outlook:
The global Passenger Car Security Systems market, which was valued at US$ 7826 million in 2022, is expected to reach a value of US$ 8942.2 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 1.9% during the forecast period of 2023-2029. This growth can be attributed to the increasing demand for advanced security features in passenger cars, as well as the rising incidence of car thefts globally. It's also worth noting that the top five manufacturers in this market hold a share of over 35%, indicating a relatively high level of market concentration.
| Report Metric | Details |
| Report Name | Passenger Car Security Systems Market |
| Accounted market size in 2022 | US$ 7826 in million |
| Forecasted market size in 2029 | US$ 8942.2 million |
| CAGR | 1.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Bosch, Continental, Delphi Automotive, Alps Electric, TRW Automotive, Lear, Hella, Valeo, Tokai Rika, Mitsubishi, Fortin, Viper, Avital, Cheetah, Mitech, Compustar, Autowatch, Crimestopper, Scorpion Group, iKeyless, Changhui, Yamei, Hirain, Shouthern Dare, Hongtai |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
