Bharat Book Bureau provides the report, on “Vehicle Security System Market Trends and Forecast”. The report analyzes markets for various vehicle security systems across regions. https://www.bharatbook.com/automotive-market-research-reports-522168/vehicle-security-system-type-technology-region-industry-trends-forecast.html
Bharatbook.com announces a report on “Vehicle Security System Market Trends and Forecast”. The report provided for the international market including development history, competitive landscape analysis, and major regions’ development status.
The vehicle security system market, in terms of value, is projected to grow at a CAGR of 7.2% from 2016 to 2021. The market is estimated to be USD 7.57 billion in 2016, and is projected to reach 10.75 billion by 2021. The growth of this market is fuelled by the rising vehicle production and increasing installation of safety features in vehicles.
Rising vehicle production and increasing installation of safety features will drive the vehicle security system market in Asia-Pacific region
Asia-Pacific is estimated to be the largest market for vehicle security systems. The Asia-Pacific vehicle security system market, in terms of value, is projected to grow at the highest CAGR from 2016 to 2021. This can be mainly attributed to the rising vehicle production and the increasing installation of safety features in passenger cars, commercial vehicles, and off-highway vehicles. The immobilizer segment is estimated to account for the largest market share in 2016. However, the remote keyless entry segment is projected to grow at the highest CAGR during the forecast period.
Growing demand for and awareness regarding safety technologies to drive the vehicle security system market
Factors such as the increase in vehicle sales, growing awareness regarding vehicle security systems among consumers, government regulations mandating safety features, and increase in vehicle thefts are driving the demand for vehicle...