Car Security System Market Size - By Product (Central Locking System, Car Alarm, Immobilizer, Remote Keyless Entry), By Vehicle (Passenger Car, Light Commercial Vehicle), By Sales Channel (OEM, Aftermarket), Regional Outlook & Forecast, 2024 - 2032

Car Security System Market Size

Car Security System Market size was valued at USD 10.4 billion in 2023 and is estimated to register a CAGR of over 6% between 2024 and 2032. The rise in vehicle theft incidents globally is a significant driver for the market. As criminals employ more sophisticated techniques to steal vehicles, there is a growing demand for advanced security systems to deter theft and enhance vehicle recovery.
 

For instance, in February 2023, Hyundai and its subsidiary, Kia, collaborated to create anti-theft software for millions of their vehicles in the U.S., responding to a surge in car theft incidents prompted by a viral TikTok challenge. The software will be offered free of charge to vehicle owners. The National Highway Traffic Safety Administration reports that the "Kia Challenge" on TikTok has led to numerous car thefts nationwide, resulting in 14 reported crashes and eight fatalities. Around 3.8 million Hyundai vehicles and 4.5 million Kia vehicles will benefit from the complimentary software update.
 

Technological innovations will play a key role in strengthening the car security system market outlook through 2032. Advancements in technology, especially in areas such as artificial intelligence, IoT (Internet of Things), and connectivity, have led to the development of more sophisticated and integrated car security systems. Citing an example, in January 2022, Geely Automobile Research Institute, Tencent Cloud, China Automotive Data, and Anheng Information entered a strategic partnership, formalizing their partnership for the establishment of the Internet of Vehicles Network Security.
 

These four entities are set to embark on a comprehensive collaboration focused on enhancing the security of Internet of Vehicles networks to develop an intelligent system for securing networked vehicles. The challenges to be addressed in the realm of Internet of Vehicles network security include safeguarding the integrity of digital infrastructure, devising strategies for risk mitigation and response, and preventing unauthorized access and attacks.
 

A lack of awareness among consumers regarding the benefits and effectiveness of modern car security systems can be a restraint. Some consumers may perceive traditional or basic security measures as sufficient and may not see the need for investing in more advanced and technologically sophisticated systems. Educating consumers about the evolving nature of car theft methods and the effectiveness of advanced security features is crucial to overcoming this barrier.
 

Car Security System Market Trends

Increased emphasis on connected car security could be an emerging trend across the car security system industry. With the increasing connectivity of vehicles (connected cars), there is a growing need for robust security measures to protect against cyber threats. Upcoming trends may involve the development of security systems specifically designed to safeguard the digital infrastructure of connected cars. This includes measures to prevent hacking, secure data transmission, and protect in-car communication systems, contributing to the overall cybersecurity of vehicles.
 

Against this backdrop, in July 2023, A research team led by the University of Michigan was awarded a significant USD 1.2 million grant from the National Science Foundation for the development and testing of Battery Sleuth, an innovative vehicle security system designed to protect against both advanced wireless hacking and traditional break-ins. What distinguishes Battery Sleuth is its unconventional approach to authentication, moving away from standard methods like wireless key fobs and onboard networks.
 

In a departure from traditional approaches, the system authenticates drivers by analyzing voltage fluctuations within the vehicle's electrical system. To engage with the system, drivers utilize a keypad device that is connected to the auxiliary power outlet. The simplicity of the power outlet is a noteworthy advantage, as it consists of just a wire connected to the battery, eliminating potential vulnerabilities for hacking attempts.
 

Car Security System Market Analysis

Based on vehicle, the passenger car segment held over 67% of the market share in 2023. With a surge in vehicle thefts and the emergence of sophisticated theft techniques, consumers prioritize advanced security features to protect their valuable assets. Additionally, the integration of innovative technologies, such as GPS tracking, biometric authentication, and connected car security, augments the appeal of these systems. Government regulations emphasizing vehicle safety and the growing awareness of the potential risks associated with automotive cyber threats further contribute to the increasing demand for robust car security systems in passenger vehicles.
 

Based on the sales channel, the OEM segment accounted for 66% of the car security system market share in 2023. OEMs have a direct association with vehicle manufacturing, enabling seamless integration of security features during the production process. As consumer awareness about the importance of car security increases, OEMs can leverage their position to offer integrated security solutions, providing a competitive edge. Strategic partnerships with technology providers and the ability to bundle security systems with new vehicle purchases enhance the appeal of OEMs as a convenient and trusted channel for acquiring advanced car security features.
 

Asia Pacific car security system market recorded around 32% of the revenue share in 2023. Rapid urbanization and an expanding middle class have led to a rise in car ownership, creating a higher demand for effective security measures. The rising incidents of vehicle theft and the awareness of advanced security technologies have prompted consumers to invest in reliable car security systems. Furthermore, stringent government regulations emphasizing vehicle safety and security standards contribute to the industry's growth. With technological advancements and a robust automotive market, Asia Pacific remains a fertile ground for the flourishing car security system industry.
 

Car Security System Market Share

Tokai Rika,Co, Ltd., ALPHA Corporation and Mitsubishi Electric Corporation hold a significant market share of over 17% in the car security system industry. Companies in the car security system market employ various strategic initiatives to fortify their positions. One crucial strategy is continuous innovation, with firms investing in the development of advanced technologies such as biometric authentication, GPS tracking, and connected car security. Establishing partnerships and collaborations with other industry players and technology providers is another common approach, fostering a comprehensive ecosystem for integrated security solutions.
 

Many companies focus on expanding their geographical presence, tapping into emerging markets with rising vehicle ownership. Additionally, a strong emphasis on compliance with evolving government regulations and industry standards ensures that companies maintain credibility and trust. Offering a diverse range of security solutions tailored to different consumer needs further enhances their competitive edge in this dynamic market.
 

Car Security System Market Companies

Major companies operating in the car security system industry are:

• ALPHA Corporation
• Aptiv plc
• Atech Automotive (Wuhu) Co., Ltd.
• Avital
• Continental AG
• Denso Corporation
• Directed Inc.
• Huf Hülsbeck & Fürst GmbH & Co. KG
• I Car Srl
• Marquardt GmbH
• Mitsubishi Electric Corporation
• Robert Bosch GmbH
• Stoneridge Inc.
• Tokai Rika,Co, Ltd.
• Valeo S.A.
• Viper Security
• ZF Friedrichshafen AG
   

Car Security System Industry News

• In October 2023, DENSO Corporation and KOITO Manufacturing Co. Ltd. announced a collaborative initiative to improve the object recognition capabilities of vehicle image sensors. Their joint efforts involve coordinating lamps and sensors to enhance safety during nighttime driving. The companies share a common objective of elevating overall vehicle safety and reducing the incidence of traffic accidents and fatalities.
   
• In September 2023, Denso, the prominent Japanese automotive company, introduced an innovative cooling system named 'Everycool.' This advanced system is designed to enhance driver comfort and energy efficiency when the engine of a commercial vehicle is not in operation. Everycool aims to achieve a dual purpose: improving working conditions for drivers during hot summer seasons while simultaneously contributing to environmental sustainability. The system achieves this by reducing fuel consumption, promoting efficient energy utilization, and minimizing the overall environmental impact of commercial vehicle operations.
   

The car security system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 - 2032, for the following segments:

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Market, By Product

• Central Locking System  
• Car Alarm
• Immobilizer
• Remote Keyless Entry
• Others

Market, By Vehicle

• Passenger car
  • Compact
  • Mid-Size
  • Luxury
  • SUV 
• Light commercial vehicle

Market, By Sales channel

• OEM  
• Aftermarket

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA