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Vehicle Anti-Theft System Market Trends

  • Report ID: GMI3197
  • Published Date: Jan 2024
  • Report Format: PDF

Vehicle Anti-Theft System Market Trends

The vehicle anti-theft system industry is undergoing a tech revolution driven by companies wielding innovation as their secret weapon against theft. The future of VATS is paved with biometric access, AI-powered anomaly detection, and real-time remote tracking. These advancements are empowering companies to secure their fleets and precious assets far more effectively. Imagine fingerprint-activated ignition systems, drones patrolling parking lots, and AI algorithms spotting suspicious activity before a thief even blinks. As companies embrace these revolutionary technologies, the market is poised for a paradigm shift, leaving thieves in the dust and paving the way for a safer, more secure future for businesses on the move.
 

In this regard, in January 2024, to combat social media-fueled car thefts, Kia is offering a free "Customer Satisfaction Initiative" for some models. This initiative installs a special ignition cylinder protector, a metal shield that makes it harder for thieves to use popular social media hacking methods. This hardware upgrade targets vehicles unable to receive the previously announced software security update. Once installed, Kia will stick warning decals on the windows to deter aspiring thieves. This two-pronged approach aims to improve security for vulnerable Kia models significantly.
 

Moreover, government-backed awareness campaigns educating citizens about vehicle security vulnerabilities and the benefits of VATS add to the momentum. In November 2023, India started gearing up for a nationwide cyber shield for cars and trucks. To combat vulnerabilities in modern car tech, the government proposed a uniform cyber security system called CSMS. This means carmakers seeking approval for new models will need to demonstrate robust cyber defenses against hacking and data breaches. The move comes in response to growing concerns about data privacy in increasingly tech-laden vehicles.
 

Leading VATS manufacturers and car companies are using data-driven campaigns, targeted advertising, and even partnerships with law enforcement to educate consumers about the vulnerability of their vehicles and the benefits of VATS installations. This proactive approach is effectively generating demand and fueling market growth.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of vehicle anti-theft system crossed USD 14 billion in 2023 and is set to observe 7% CAGR from 2024 to 2032, led by the growing theft anxieties and the expanding menu of high-tech security options.

The OEM segment accounted for 75% of the market share in 2023, owing to the increasing prioritization for enhanced security features.

Asia Pacific recorded over 40% of the vehicle anti-theft system market share in 2023, led by the rising concerns over escalating vehicle theft incidents.

Continental AG, Denso Corporation, Hella GmbH & Co. KGaA, Johnson Controls International plc, Lear Corporation, Meta System S.p.A., Minda Corporation Limited, Mitsubishi Electric Corporation, OnStar Corporation, Pandora Car Alarm Systems Ltd., Robert Bosch GmbH, Scorpion Automotive Ltd., Tokai Rika Co., Ltd., Valeo S.A., ZF Friedrichshafen AG are some of the major vehicle anti-theft system companies worldwide.

Vehicle Anti-Theft System Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 347
  • Countries covered: 21
  • Pages: 300
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