Enjoy complimentary customisation on priority with our Enterprise License!
The passenger car security systems market size is forecast to increase by USD 1.22 billion at a CAGR of 3.27% between 2023 and 2028. The market is experiencing significant growth due to several key factors. Firstly, the rise in car thefts worldwide has increased the demand for advanced security systems. Secondly, the integration of biometric technology in vehicles is becoming a trend, offering enhanced security features and convenience for consumers. However, the slowdown in automobile manufacturing may pose a challenge to market growth. Despite this, the market is expected to continue expanding, driven by technological advancements and consumer preferences for safety and security. The increasing adoption of connected cars and the integration of IoT technologies are also expected to fuel market growth in the coming years. Overall, the passenger car security systems market is poised for growth, driven by these key trends and challenges. The market report forecasts market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The immobilizer segment is estimated to witness significant growth during the forecast period. Passenger cars are increasingly integrating digital security features to enhance safety and prevent theft. Smart technology, such as immobilizers, is a crucial aspect of passenger car security systems. Implanted in the engine control unit (ECU), these systems prevent unauthorized access and engine operation. Immobilizers use a transponder key or smart key fob with a digitally coded security feature. The ECU checks the key's code against the one stored in the immobilizer.
Get a glance at the market share of various regions Download the PDF Sample
The immobilizer segment accounted for USD 2.09 billion in 2018. A mismatch will prevent the vehicle from starting, safeguarding against hot-wiring. Automobile manufacturers continually innovate, integrating automotive electronics, remote operating features, car alarms, central locking, and automation of vehicles with artificial intelligence, the Internet of Things, and machine learning. Sensors and ECUs are essential components of these advanced systems. Biometric car access, such as fingerprint or facial recognition, is a growing trend in luxury cars, SUVs, and light commercial vehicles. Tencent Cloud and Anheng Information are among the companies providing cloud-based car security solutions. The legislation mandates the installation of anti-theft devices in passenger vehicles, commercial vehicles, three wheelers, and two wheelers. Passenger vehicle sales continue to grow, necessitating the development of advanced car security systems. Vehicle cameras, anti-collision systems, and safety features are becoming standard, further increasing the importance of car security systems. The integration of GPS tracking and biometric authentication in car security systems ensures comprehensive protection for passengers and their vehicles.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 60% to the growth of the global market during the market forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market is witnessing significant growth due to the integration of digital security and smart technology features in passenger cars. Automobile manufacturers are prioritizing the development of advanced security systems to combat increasing theft rates and ensure passenger safety. Immobilizers, car alarms, central locking, and automation of vehicles are common anti-theft devices being used. Smart technology features such as remote operating capabilities, biometric car access, OEMs, electronic steering locks, and GPS tracking through the Internet of Things (IoT) and machine learning are becoming increasingly popular. Legislation mandating the installation of certain security systems in passenger vehicles is also driving market growth. Automakers are collaborating with technology companies like Tencent Cloud and Anheng Information to develop advanced security systems. The University of Michigan Transportation Research Institute, National Science Foundation, Battery Sleuth, and other research organizations are also contributing to the development of car security systems through their research on sensors, ECUs, and biometric authentication. Luxury cars, SUVs, and light commercial vehicles are major segments of the market. Safety features such as anti-collision systems and vehicle cameras are also being integrated into security systems to enhance passenger safety. The market for passenger car security systems is expected to continue growing as passenger vehicle sales increase and consumers demand more advanced security features. However, the market for three wheelers and two wheelers is relatively small compared to passenger vehicles.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market encompasses a range of digital security solutions designed to enhance the safety and protection of passenger cars. These systems incorporate smart technology features such as immobilizers, car alarms, central locking, and automation of vehicles. Legislation plays a significant role in driving the demand for passenger car security systems, with anti-theft devices becoming increasingly important. Automobile manufacturers continue to invest in automotive electronics, integrating remote operating features, artificial intelligence, and the Internet of Things into their offerings. Sensors, ECUs, and biometric car access are also gaining popularity. The market includes passenger vehicles, commercial vehicles, three wheelers, and two wheelers. Passenger vehicle sales are expected to grow, leading to increased demand for car security systems, including immobilizers, vehicle cameras, anti-collision systems, safety features, and collision avoidance systems. Machine learning and AI are also being integrated into these systems to enhance their capabilities.
The increase in car thefts is notably driving market growth. The global market is witnessing significant growth due to the rising number of road accidents and car thefts. According to data from the Driver and Vehicle Licensing Agency (DVLA) in the UK, vehicle thefts increased by 3% in 2021. In response, there has been a demand for advanced security systems, such as central locking systems, biometric systems, and facial recognition. These technologies not only prevent theft but also enhance safety through features like collision avoidance systems.
Additionally, automotive manufacturers, including Ford Motor Company, Porsche AG, and Tesla Inc., are responding to this demand by integrating security systems and advanced sensors into their vehicles. In the US, 11 state legislatures have established auto theft prevention departments to address the issue. The increasing awareness of consumer safety and convenience is further fueling the market growth for passenger car security systems. Thus, such factors are driving the growth of the market during the forecast period.
The growth of biometric technology is the key trend in the market. Biometric technology, which identifies physical attributes such as voice, fingerprints, palm prints, iris structures, and typing rhythm, has been increasingly adopted in the automotive industry to enhance vehicle security and functionality. Biometrics are currently utilized in various applications within automobiles, including vehicle access, ignition permission, anti-theft systems, and onboard communication programs.
Moreover, while remote or passive keyless entry systems using radio frequency are commonplace for unlocking and locking vehicle doors, automakers and tire suppliers are investigating additional applications to bolster vehicle security, safety, and comfort. Collision avoidance systems, incorporating AI and biometric recognition, represent a promising area of exploration to prevent road accidents and ensure passenger safety. The automotive industry continues to explore the potential of biometric technology to revolutionize the driving experience. Thus, such trends will shape the growth of the market during the forecast period.
The slowdown in automobile manufacturing is the major challenge that affects the growth of the market. The global market is witnessing significant growth due to the increasing adoption of advanced technologies such as Artificial Intelligence (AI) in automotive applications. These technologies are being integrated into various systems including Collision Avoidance Systems to mitigate road accidents. Central locking systems and Biometric systems are also gaining popularity for their enhanced security features, offering facial recognition capabilities for added convenience and safety. The shift towards shared mobility solutions, driven by factors such as ease of access, increasing fuel prices, and the rise in vehicle costs, is leading to a decline in personal vehicle ownership. This trend is expected to continue, influencing the demand for advanced security systems in shared mobility fleets. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
DENSO Corp. - The company provides advanced safety solutions for passenger cars, encompassing driving environment recognition systems, vehicle dynamic control systems, and collision prevention technologies. These systems enhance the overall safety and security of the vehicle, ensuring a safer driving experience for passengers.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a dynamic and evolving sector, integrating digital security and smart technology features in passenger cars. Immobilizer, anti-theft devices, car alarms, central locking, automation of vehicles, and biometric car access are some essential components of this market. Automobile manufacturers are increasingly focusing on the integration of artificial intelligence, Biometrics, Internet of Things (IoT), machine learning, sensors, ECUs, and GPS tracking in passenger cars. Legislation plays a crucial role in the growth of this market, with governments worldwide implementing stringent regulations to ensure vehicle safety and security. The passenger car segment, including luxury cars, SUVs, and light commercial vehicles, is witnessing significant advancements in security systems. Key players in this market include Tencent Cloud, Anheng Information, the University of Michigan, Battery Sleuth, the National Science Foundation, and several automotive electronics companies. The market is expected to grow significantly due to the increasing sales of passenger vehicles and the demand for advanced car security systems. Vehicle cameras, anti-collision systems, and safety features are also gaining popularity in the market, offering enhanced protection and peace of mind for vehicle owners. The integration of biometric authentication and electronic steering locks further strengthens the security of passenger cars. The future of passenger car security systems lies in the integration of advanced technologies, such as sensors, machine learning, and AI, to provide a more comprehensive and effective security solution.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
Market growth 2024-2028 |
USD 1.22 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.13 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 60% |
Key countries |
China, US, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alps Alpine Co. Ltd., Aptiv Plc, Changhui Group, Continental AG, Crimestoppers Trust, DENSO Corp., Firstech LLC, HELLA GmbH and Co. KGaA, KIRAMEK inc, Lear Corp., Marquardt GmbH, Mitsubishi Electric Corp., Nostaa Group Ltd., Robert Bosch GmbH, Scorpion Automotive Ltd., Tokai Rika Co. Ltd., Valeo SA, VOXX International Corp., Xtreme Auto Glass and Window Tint, and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.