Stolen Vehicle Recovery Market Insights:
During the forecast period of 2023 to 2030, the global Stolen Vehicle Recovery Market is anticipated to expand at a CAGR of 7.59%.
The automotive security system protects the car from outside, harmful threats in order to keep it secure. Electronic parts like microcontrollers, GSM modules, GPS modems, level shifter ICs, GSM modems, LEDs, LCDs, relay drivers, proximity sensors, and motion sensors are all included in a stolen vehicle security system. It also includes self-contained modules of intricately connected electronic components like capacitors, resistors, transistors, diodes, and fuses that make it simple to identify stolen cars.
Key Players:
The leading companies in the global stolen vehicle recovery market are,
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According to technology, the radio frequency identification segment had the greatest market share (51.82%) in 2017, generated USD 4,828.18 million, and is anticipated to grow at a CAGR of 7.55% over the next five years. The central locking system category, which accounted for USD 3,011.6 million and had the biggest market share by component in 2017 (32.32%), is expected to grow at a CAGR of 3.82% over the next five years.
According to sales channel, the OEM segment held the largest market share in 2017 with a revenue of USD 7,525.8 million and is anticipated to grow at a CAGR of 5.64% over the next five years. According to vehicle type, the passenger cars category had the largest market share in 2017 with 69.07%, generated USD 6,435.4 million, and is expected to grow at a CAGR of 5.94% over the next five years.
Report Attribute/Metric |
Details |
Market Size |
2027: USD 13,408.83 Million 2030: Significant value |
CAGR |
7.59% CAGR (2022 to 2030) |
Base Year |
2021 |
Forecast Period |
2022-2030 |
Stolen Vehicle Recovery Market Segmentation:
Based on technology, component, vehicle type, sales channel, and region, the global market for recovering stolen vehicles has been segmented. The market is divided into ultrasonic, radio frequency identification (RFID), and other categories based on technology. As it aids in identifying the thief through radio waves, the radio frequency identification segment is predicted to dominate the market for recovering stolen vehicles. RFID allows for the location, identification, and tracking of objects by transmitting data via radio wave to a small chip attached to the object.
Using radio frequency signals to activate the car, RFID serves as a key sensor in a car security system. The tag sensor determines whether the driver has access to operate the vehicle or not and enables locking if a user is identified as having no access. As a result, RFID can be used for applications related to vehicle safety thanks to its broad operational capability.
The market for recovering stolen vehicles is divided into segments based on region, sales channel, technology, component, and vehicle type.
Due to technology there are Radio frequency identification, ultrasound usage and other technological advancements. With the use of Component the types are System to Protect Against Ultrasonic Intruders (UIP), Siren Powered Reserve (BBS), Autonomous collision detection, central locking, and automatic driver recognition (ADRS), others with Remote Keyless Entry
Based of vehicular type there are commercial Vehicle, passenger cars. Sales Channel are of types which are OEM, aftermarket.
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Stolen Vehicle Recovery Market Regional Analysis:
The market for recovering stolen vehicles is divided into four regions: Asia-Pacific, Europe, North America, and the Rest of the World. With a 51.13% share in 2017, Asia-Pacific is anticipated to have the greatest market share for recovered stolen vehicles worldwide throughout the forecast period.
In terms of region, the market for recovering stolen vehicles worldwide, Asia-Pacific held the greatest market share in 2017. Asia-Pacific is anticipated to experience the fastest market growth during the forecast period, largely as a result of an increase in automobile demand, particularly in China and India. Because it is home to many international players who are concentrating on the cutting-edge safety features for the vehicles, Europe is anticipated to be the second-largest market during the forecast period.
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