The growing demand for multifactor authentication and technological advancements in vehicle anti-theft systems are some of the key factors fueling the growth of this market.
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The report "Vehicle Anti-Theft System Market by Product (Steering Lock, Alarm, Biometric Capture Device, Immobilizer), Technology (GPS, GSM, RTLS), Vehicle Type (Passenger Car, Commercial Vehicle, Off-Highway Vehicle), and Region - Global Forecast to 2021", The vehicle anti-theft system market is estimated to be USD 6.59 Billion in 2016, and is projected to grow to USD 9.57 Billion by 2021, at a CAGR of 7.76%.
Browse 93 market data tables and 61 figures spread through 154 pages and in-depth TOC on “Vehicle Anti-Theft System Market by Product (Steering Lock, Alarm, Biometric Capture Device, Immobilizer), Technology (GPS, GSM, RTLS), Vehicle Type (Passenger Car, Commercial Vehicle, Off-Highway Vehicle), and Region - Global Forecast to 2021”
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Face detection systems to hold the largest share in the vehicle anti-theft system market, by technology
The face detection system (FDS) segment is estimated to account for the largest share in the vehicle anti-theft system market.
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The system is used to monitor the drivers state of consciousness through eye movement. It also identifies an authorized vehicle-user based on a facial recognition system.
Additionally, the vehicle immobilizer system sends a message to the registered phone number of the vehicle-user in case of any discrepancy. These features are increasing the demand for this technology.
Immobilizers: A promising market due to stringent safety regulations
The immobilizer segment is estimated to hold the largest share in the vehicle anti-theft system market, by product. Mandatory installation of immobilizers has drastically reduced thefts in various countries.
The growing demand for safety features as a result of government regulations has boosted the market for immobilizers.
Asia-Pacific: Largest market for vehicle anti-theft systems
Asia-Pacific is estimated to account for the largest share, in terms of value, of the vehicle anti-theft system market in 2016. The demand for anti-theft systems in this region is triggered by the growing population in urban areas.
The automotive industry in Asia-Pacific has witnessed a year-on-year increase in sales. The region is also the leading producer of automobiles in the world.
The report analyzes all major players in the vehicle anti-theft system market, including Robert Bosch GmbH (Germany), Continental AG (Germany), Lear Corporation (U.S.), and ZF-TRW (U.S.).
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