The North America Vehicle Anti-Theft System Market would witness market growth of 6.3% CAGR during the forecast period (2022-2028).
The automotive sector has experienced substantial expansion due to introduction of vehicles with increased safety and comfort features. As a result, several firms have developed and introduced modern automobiles equipped with various vehicular technologies, contributing to the expansion of the market. In addition, technology-driven firms like NXP Semiconductors, Continental AG, Hella KGaA Hueck & Co., and Robert Bosch GmbH focus on updating their existing vehicle anti-theft systems, which is anticipated to create new opportunities for the company to expand its business.
In addition, most of the biggest automakers have manufacturing facilities in nations due to their abundant raw material resources, manufacturing-friendly legislation, and inexpensive labor force. In addition, end users in these nations prefer technologically advanced, cost-effective, and fuel-efficient automobiles. In addition, governments of emerging countries are establishing regulations to encourage sales of vehicle anti-theft systems, which is anticipated to create opportunities for market participants to concentrate on these nations and acquire a competitive edge.
North America ranks among the world's largest centers for automobile production. In recent years, the automotive industry's growth has been minimal. As a result, car manufacturers in the region rely on newer technology, such as biometrics, to offer value and differentiate themselves in the market. The region's automotive industry is the freshly rising market for biometrics applications. The automobile giants in the region, including BMW, Mercedes-Benz, VW, and Ford, have previously discussed incorporating biometric technology into their high-end luxury vehicles with high-security features. The corporations have discussed developing biometric technologies in various fields, including car access, ignition switch, and vehicle immobilizer.
The US market dominated the North America 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 $3,964.7 million by 2028. The Canada market is poised to grow at a CAGR of 8.7% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 7.7% 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 U.S., Mexico, Canada, and Rest of North America.
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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