Vehicle Security Sensor Market Analysis

Vehicle Security Sensor Market Analysis

Based on sensor, the market is divided into motion sensor, glass break sensor, shock/impact sensor, tilt sensor, pressure sensor, camera-based sensor, and others. In 2023, the motion sensors segment was valued at over USD 180 million. The market is driven by the significant benefits offered by motion sensors, including theft prevention and enhanced vehicle safety. Additionally, the integration of motion sensors with IoT platforms is driving the market further, facilitating seamless communication between the vehicle and external devices such as security hubs, tablets, and smartphones.
 

Moreover, the growing demand for connected cars is a major driver for the vehicle security sensor market. Connected cars, equipped with internet access and the ability to communicate with other devices, require robust security systems to protect against cyber threats and unauthorized access. As more consumers seek the convenience and features offered by connected vehicles, manufacturers are prioritizing the integration of sophisticated security sensors. These sensors play a crucial role in safeguarding the vehicle's digital infrastructure, ensuring data privacy, and preventing cyber-attacks.
 

Consequently, the surge in connected car adoption is fueling the need for advanced vehicle security solutions. Governments are investing in autonomous vehicle technologies to accelerate development. For instance, in February 2024, the UK government announced additional funding for autonomous vehicle projects through its CAM Scale-Up UK Program, aimed at accelerating the development of services crucial for self-driving vehicles.
 

Based on sales channel, the vehicle security sensor market is categorized into OEMs and aftermarket. The OEMs segment is anticipated to register a CAGR of over 9% from 2024 to 2032. Car manufacturers are progressively incorporating advanced security systems into their latest models, driving the need for security sensors. Additionally, Electric Vehicle (EV) market is growing rapidly with significant contributions from major automotive manufacturers. Companies are achieving significant milestones in EV sales through strategic repositioning.
 

For instance, in July 2024, JSW MG Motor India strengthened its auto game by being the first OEM in India to earn 40% of its sales from its EV portfolio. MG Motor has repositioned its EV sales through different business strategies, making a 50% increase within six months.
 

Asia Pacific dominated the global vehicle security sensor market with a major share of over 40% in 2023. The vehicle security sensors market in the region is rapidly growing due to increasing car sales, especially luxury vehicles with advanced security systems. Rapid urbanization and infrastructural developments and increase in higher risks of vehicle theft are increasing the demand for better security solutions for vehicles.
 

Players are utilizing advanced technologies to improve road safety through driver monitoring. For instance, Cipia’s Driver Monitoring System (DMS) employs computer vision and Artificial Intelligence (AI) to track the driver for signs of inattentiveness and fatigue while they are behind the wheel, making roads safer.
 

In North America, higher urbanization rates and increased urban crime incidents have driven the demand for effective vehicle security solutions. As consumer awareness about the benefits of sensors, such as remote monitoring and alerts provided by vehicle security sensors, grows, their adoption rates correspondingly increase. Companies are also expanding their sensor portfolios to cater to the growing electric vehicle market.
 

For instance, in March 2023, Continental expanded its sensor portfolio for the fast-growing electric car market with the unveiling of a new innovative sensor. The high-speed inductive e-motor Rotor Position Sensor (eRPS) detects the exact position of the rotor in a synchronous electric machine, increasing efficiency and enabling smoother operations.
 

Advancements in sensor technology, such as better accuracy in detection, fewer false alarms, and increased durability, are fueling innovations in the vehicle security sensor market in U.S. In addition, companies are complying with new regulatory standards to enhance vehicle safety features. For instance, in May 2023, the NHTSA, in the U.S., introduced a new standard that would make AEB mandatory for light-duty cars and trucks within four years of publication.
 

In Europe, innovations in sensor technology, particularly advancements enhancing the accuracy and reliability of ultrasonic, microwave, and millimeter wave sensors, are pivotal drivers of market growth in the vehicle security sector. In addition, stringent regulatory mandates requiring vehicle security features propel the demand for sensors that meet rigorous safety standards. As a result, this regulatory environment creates a compelling market opportunity for sensor manufacturers and suppliers to develop and offer compliant solutions in the region.