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Car Security System Market Trends

  • Report ID: GMI7982
  • Published Date: Jan 2024
  • Report Format: PDF

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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of car security system reached USD 10.4 billion in 2023 and is set to witness 6% CAGR from 2024 to 2032, due to the rise in vehicle theft incidents and the growing demand for advanced security systems worldwide.

The passenger car segment held over 67% of the market share in 2023, owing to the surge in vehicle thefts and the emergence of sophisticated theft techniques making customers prioritize safety.

Asia Pacific accounted for 32% of the market share in 2023, attributed to rising incidents of vehicle theft and the higher awareness of advanced security technologies in the region.

Avital, Continental AG, Denso Corporation, Directed Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, I Car Srl, Marquardt GmbH, Mitsubishi Electric Corporation, Robert Bosch GmbH, and Stoneridge Inc. are some of the major car security system companies worldwide.

Car Security System Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 264
  • Countries covered: 25
  • Pages: 220
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