The Europe Vehicle Anti-Theft System Market would witness market growth of 6.0% CAGR during the forecast period (2022-2028).
Vehicle anti-theft systems have evolved considerably over the years, from the simple lock and key to the complex biometric identification systems. As a result, the underlying technologies and systems intended to prevent unlawful vehicle entry have undergone a significant change. The adoption of vehicle anti-theft systems is influenced by various aspects, including simplicity of use, financial considerations, and theft threshold.
While some essential gadgets deactivate the car, others provide advanced protection, including vehicle tracking, detection of inside infiltration, battery-powered sounders, and tilt sensor devices. Demand in the vehicle anti-theft system market is primarily driven by the significant expansion in the number of cars of varying types, the increasing incidence of vehicle thefts, and the rising knowledge about vehicle anti-theft systems. Preventing car thefts, especially in public parking lots, has introduced increasingly sophisticated anti-theft systems with improved technology to enhance passenger safety and comfort.
Germany is an important automotive center in Europe, with the Volkswagen Group, BMW Group, and Daimler Group located there. In Europe, the nation is a major manufacturer of light commercial vehicles. German manufacturers of light commercial trailer vehicles produce a surplus of trailers. Due to this, the country is a large exporter of trailers. Several automakers are searching for more improvements for their automobiles. In addition, the number of vehicle thefts in the region is on the rise, increasing the demand for effective vehicle anti-theft systems and thus contributing to the expansion of the regional market.
The Germany market dominated the Europe Vehicle Anti-Theft System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,354.2 million by 2028. The UK market is anticipated to grow at a CAGR of 5.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 6.8% during (2022 - 2028).
Based on Technology, the market is segmented into Remote Frequency Identification Device, Global Positioning System, Real-time Location Systems, Automotive Biometric Technologies, and Others. Based on Vehicle Type, the market is segmented into Passenger Cars, and Commercial Vehicles. Based on Sales Channel, the market is segmented into OEM, and Aftermarket. Based on Product, the market is segmented into Alarm, Central Locking System, Immobilizer, Steering Lock, Passive Keyless Entry, and Biometric Capture Device. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Vehicle Anti-Theft System Market is Projected to reach USD 20.4 Billion by 2028, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Continental AG, Robert Bosch GmbH, HELLA GmbH & Co. KGaA, Valeo SA, Denso Corporation, Aptiv PLC, Tokai Rika Co., Ltd., Stoneridge, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG (Huf Holding Gmbh & Co. KG), and Marquardt Group.
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