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Vehicle Security Systems Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2024

Author : Ronak Bora | Published Date : 2019-03-21 

Asia Pacific, especially India and China are major contributors in vehicle security systems market. The region is largest automobile producer in the world. Additionally, increasing population, rise in disposable income are factors boosting demand for the product. China automobile sales will grow over 4.5% in 2017 as taxation is curtailed down on hatch back cars engine. The country hosts nearly all recognized brands car manufacturers that includes Audi and Venucia. The product is featured by these car manufacturers making it most desirable feature in an automobile.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Tokai Rika
  • Valeo
  • Bosch
  • Continental
  • Delphi Automotive
  • Lear Corporation

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Challenges in vehicle security systems market are its high cost and probability of false alarm. Technology used in creating devices are new in the industry thus, it incurs high initial cost for installation. It can ring false alarm due to rain or any other physical contact that can cause surrounding disturbances. These factors are creating hurdles in device growth and its usage.

Vehicle security systems market is segmented as per product into remote keyless entry, alarm, immobilizers, passive keyless entry and central locking. It is further divided on the basis of its technology such as global system for mobile communication, face detection, real time location, and positioning device. Passenger, commercial and off highway automobile use the device at wide level.

Vehicle Security Systems Market size will witness a substantial growth in near future. Diverse variety of the product is used in automobiles for safety, security and alerts. Device are used to prevent unauthorized appropriation of goods considered valuable. It is fitted in different parts of automobile to protect automobile components and is widely used to ensure safety of passengers and vehicles from theft activities. 

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Key contributors in vehicle security systems market are Tokai Rika, Valeo, Bosch, Continental, Delphi Automotive, Lear Corporation. Valeo acquired gestigon in 2017, the move was taken to gain technological leadership in automated driving. This would provide Valeo in developing driving assistance operations, particularly in high growth technologies consisting of interior camera and image processing. By combining skills in a larger team, they will sharpen their edge and reinforce their leadership in autonomous and connected cars.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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