Description

According to the Market Statsville Group (MSG), the global stolen vehicle recovery systems market size is expected to grow from USD 12,304.8 million in 2021 to USD 23,005.3 million by 2030, at a CAGR of 7.2% from 2022 to 2030. The stolen vehicle security system effectively eradicates the chances of vehicle theft with the help of various components, such as a remote keyless entry system, central locking system, automatic collision detection system, and ultrasonic intruder protection system (UIP).

In addition, an increasing level of spending by individual end-users on automotive telematics, especially in the Asia-Pacific region, and greater awareness of more recent technologies contribute to the growth of the stolen vehicle tracking system market.

Global Stolen Vehicle Recovery Systems Market Definition

A stolen vehicle recovery device is an anti-theft device that enables users to locate their vehicle if it is lost. The device itself doesn’t prevent the user's car from being stolen. However, it can help clients recover it safely if it falls into the wrong hands.

Radiofrequency technology embedded in vehicle recovery systems helps law enforcement officers to locate and recover the vehicle. When users report a car theft to the police, special computers send radio signals to the stolen vehicle. These radio signals will activate the car's vehicle recovery system and send the location to police computers, making it easier to recover the vehicle.

Scope of the Global Stolen Vehicle Recovery Systems Market

The study categorizes the Stolen Vehicle Recovery Systems market based on component, vehicle, and technology at the regional and global levels.

By Component (Revenue, USD Million, 2017-2030)

• Ultrasonic Intruder Protection System (UIP)
• Backup Battery Siren (BBS)
• Central Locking System
• Automatic Collision Detection System
• Automatic Driver Recognition System (ADRS)
• Remote Keyless Entry System
• Others

By Vehicle type (Revenue, USD Million, 2017-2030)

• Passenger Vehicle
• Commercial Vehicles

By Technology (Revenue, USD Million, 2017-2030)

• Ultrasonic
• Radio Frequency Identification
• Others

By Region Outlook (Revenue, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The radiofrequency Identification segment is witnessed to account for the highest market share by technology

Based on the technology, the global stolen vehicle recovery systems market is divided into ultrasonic, radio frequency identification (RFID), and others. In 2021, the radio frequency identification segment accounted for the highest market share in the market. RFID is a wireless technology consisting tags and readers. The reader emits radio waves and receives signals from the RFID tag via one or more antennas. A radio frequency signal activates the vehicle as a key sensor. When the tag sensor detects that a driver does not have permission to operate the vehicle, it locks the vehicle. Thus, RFID is suitable and highly in demand for vehicle safety applications due to its wide range.

Asia-pacific accounts for the highest CAGR during the forecast period

Globally, Asia-pacific is estimated to hold the highest CAGR in the global stolen vehicle recovery systems market during the forthcoming period, owing to the growing automotive prodution facilities in the region. There is an increase in demand in the forecast period for automobiles, particularly in China and India.

Key Market Players in the Global Stolen Vehicle Recovery Systems Market

• HELLA GmbH & Co.
• KGaA, Robert Bosch GmbH,
• Valeo
• Continental AG,
• Denso Corporation,
• Mitsubishi Electric Corporation,
• OMRON Corporation,
• ALPS Alpine Co., Ltd.
• Tokairika, Co., Ltd.
• Lear Corporation,
• Spireon

Recent Developments

• In March 2019, Mitsubishi Electric developed security technology to detect attacks on equipment sensors. It's sensor-security technology that detects measurement-data inconsistencies by embedding a proprietary algorithm in sensor fusion algorithms, which combine multiple sensors for measurements used in the automatic control of drones, in-vehicle devices, production equipment, and more.
• In February 2019, Continental AG introduced the in-vehicle server. The in-vehicle server serves as a network manager and is a key architectural component for wireless software updates and remote maintenance, as well as a crucial component of vehicle cyber security.

Key Issues Addressed

• What is the market size by various segmentation of the stolen vehicle recovery systems by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the stolen vehicle recovery systems market?
• What are the key opportunities and trends for manufacturers involved in the stolen vehicle recovery systems supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of stolen vehicle recovery systems in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.