Technological advancements, increasing criminal activity, and rapid urbanization are the major driving factors in the Stolen Vehicle Recovery Market. Moreover, the presence of key market leaders such as Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), and others are competing across the regions to enhance the market growth on a large scale.
Further, the global market has more growth opportunities for the giants and manufacturers because of the high demand for the central locking system segment.
The key players of global stolen vehicle recovery market are
Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), Valeo (France), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Lear Corporation (US), Tokairika, Co, Ltd (Japan), OMRON Corporation (Japan), and ALPS Alpine Co., Ltd (Japan).
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As per the Stolen Vehicle Recovery Market trends, the present market has been classified based on the vehicle type, technology, component, and sales channel.
The worldwide market has been classified into radio frequency identification (RFID), ultrasonic, and others based on the technology segment. Among these, the radio frequency identification segment is projected to lead the global market as it helps to recognize the thief’s movement through the waves of radio. RFID functions as a key sensor, which is widely used in a car security system. Its tag sensor identifies by using radio frequency signals and helps the car drivers to operate and access the vehicle. The RFID transmits the information through radio waves to a small chip attached to the objects, which can be easily tracked, located, and identified. Thus, vehicle safety applications are widely using RFID because of its wide range of operational abilities.
In terms of component segment, the Stolen Vehicle Recovery Market share has been segmented into Ultrasonic Intruder Protection System (UIP), Central Locking System, Backup Battery Siren (BBS), Remote Keyless Entry System, Automatic Driver Recognition System (ADRs), Automatic Collision Detection System, and others. Based on the Vehicle Type segment, the worldwide market has been segregated into Commercial Vehicle and Passenger Car. Based on sales channels, the global market has been classified into Aftermarket and OEM.
The global Stolen Vehicle Recovery Market size is growing with the contributions of different regional markets such as Asia Pacific, Europe, North America, South America, and the rest of the world.
In 2017, the Asia-Pacific market was registered to account for the largest market share of 51.13%during the analysis period. In this year, China was accounted to generate the largest market value at USD 2,494.40 million. The specific Asia Pacific regions such as Japan, India, and China are growing the Stolen Vehicle Recovery Market growth due to operating units of global players and major manufacturers in the region and the growing demand for automobiles in India and China.
In February 2019, a prominent market player named Mitsubishi Electric developed a security technology. This company has aimed to detect or identify attacks on equipment sensors. Here, this sensor-security technology inserts a proprietary algorithm in the sensor fusion algorithms to detect measurement-data inconsistencies.
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Table Of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 16
2.2 Scope Of The Study 16
2.3 List Of Assumptions 17
2.4 Market Structure 17
2.5 Macro Factor Indicators Analysis 18
3 Research Methodology
3.1 Research Process 20
3.4 Market Size Estimation 22
3.5 Forecast Model 23
4 Market Dynamics
4.1 Introduction 25
4.2 Drivers 25
4.2.1 Increasing Incidents Of Vehicle Thefts 25
4.2.2 High Recovery Rate Of Stolen Vehicle Recovery Systems 26
4.2.3 Drivers Impact Analysis 27
4.3 Restraints 27
4.3.1 Technological Advancement In Anti-Theft System 27
4.3.2 Failures In Stolen Vehicle Recovery System 28
4.3.3 Restraints Impact Analysis 28
4.4 Opportunity 29
4.4.1 Cloud Computing-Based Stolen Vehicle Recovery Systems 29
4.5 Trend 29
4.5.1 In-Built Vehicular Stolen Vehicle Recovery System 29
5 Market Factor Analysis
5.1 Porter’s Five Forces Model 31
5.1.1 Threat Of New Entrants 31
5.1.2 Bargaining Power Of Suppliers 31
5.1.3 Bargaining Power Of Buyers 32
5.1.4 Threat Of Substitutes 32
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