Report Scope & Overview:
Stolen Vehicle Recovery Market Size was valued at USD 12.54 billion in 2022 and is expected to reach USD 22.88 billion by 2030 and grow at a CAGR of 7.8% over the forecast period 2023-2030.
The stolen vehicle security system is an intelligent, dependable, and effective system that uses various components to eliminate the possibility of vehicle theft, such as a central locking system, remote keyless entry system, and ultrasonic intruder protection system (UIP), and automatic collision detection system. This security system comprises threat detection, prevention, and reaction using various technologies such as radio frequency identification and ultrasonic.
The purpose of stolen car recovery systems is to safeguard high-value automobiles belonging to users in order to facilitate their prompt recovery in the event that they are stolen. It uses a variety of technologies to either monitor the location of a car in real-time or provide a history of the vehicle's locations over time. This allows it to keep track of where a vehicle is at all times. The majority of these devices collect data using global positioning system (GPS) technology, but others collect data using cellular or radio transmitters.
In 2020, CalAmp, the brand owner of LoJack and Transunion, announced the launch of LoJack Stolen Vehicle Recovery (SVR) services for insurance carriers which aims to drastically reduce stolen vehicle losses worldwide, and improve risk management, and increase vehicle recovery rates for consumers.
Increased consumer awareness is propelling the market for recovering stolen vehicles to new heights.
The market for biometric vehicle security is growing.
The growing consciousness among customers regarding the importance of vehicle safety.
Rising numbers of both passenger and commercial automobiles are being manufactured.
Improvement in the precision of vehicle recovery systems.
The market for stolen vehicle recovery is hampered by the high cost of stolen vehicle recovery equipment.
During the projection period, the probable failure of electronic components may operate as a market restraint.
The opportunity is provided by advancements in stolen car recovery system technology.
The market for IoT-enabled vehicle recovery will see significant growth.
IoT solution providers have established geo-location-based on network triangulation to locate stolen vehicles.
The high price of stolen car security systems may be a market challenge.
Anti-theft systems have advanced technologically.
IMPACT OF COVID-19:
COVID-19 has had a negative influence on the stolen vehicle recovery business as a result of a large decrease in automobile spending. The imposition of lockdowns and the suspension of economic operations by a number of countries in an effort to limit the risk of pandemic spread led to a major decrease in sales, which was followed by a decline in trust among consumers. However, once the effects of the pandemic begin to subside, the market for recovered stolen vehicles will once again pick up speed. As a result of the execution of government directives, it is anticipated that travel and trade will restart, albeit at a reduced capacity. This will provide a bright picture for the market for the recovery of stolen vehicles throughout the projection period.
KEY MARKET PLAYERS:
Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), Valeo (France), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Lear Corporation (US), CalAmp, Tokairika, Co, Ltd (Japan), OMRON Corporation (Japan), and ALPS Alpine Co., Ltd (Japan) are some of the affluent competitors with significant market share in the Stolen Vehicle Recovery Market.
Market, By Technology:
Based on the technology segment, the global market has been divided into Ultrasonic, Radio Frequency Identification, and Others based automotive brake linings. The radio frequency identification subsegment of the stolen vehicle recovery market is anticipated to have the greatest amount of market share due to the fact that it assists in recognizing the movement of the thief via the use of radio waves. Through the use of radio waves, information may be sent to a little chip that is attached to the object, allowing the object to be located, identified, and tracked.
Market, By Component:
The global market has been divided into 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, and Others Based on the component segment. Over the course of the time covered by this forecast, the central locking system will have the majority share of the market.
Market, By Vehicle type:
The global market has been divided into passenger cars and commercial vehicles based on the vehicle type segment. Over the course of the analysis period, passenger automobiles are expected to dominate the market.
Radio Frequency Identification
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
By Vehicle Type:
In comparison to other regions, such as North America and Europe, it is anticipated that the demand for stolen car tracking systems will be greatest in the Asia Pacific region. Despite a recent trend of falling sales, major companies in the market for stolen car monitoring systems have shown a significant amount of interest in China and India since they have emerged as the world's largest automobile marketplaces in recent years. Over the projection period, the APAC region will lead the stolen car recovery market. In terms of market share, China, India, and Japan have the most. The growth of the global stolen vehicle recovery market in the Asia-Pacific region is being fueled by the increasing demand for automobiles in India and China, the presence of major manufacturers and operating units of global players, and rising demand from SMEs and various industries verticals, and the booming automobile market.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 12.54 Billion|
|Market Size by 2030||US$ 22.88 Billion|
|CAGR||CAGR of 7.8% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Technology (Ultrasonic, Radio Frequency Identification, Others)
• by Component (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 (Passenger cars, Commercial vehicles)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Denso Corporation (Japan), Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), Valeo (France), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Lear Corporation (US), CalAmp, Tokairika, Co, Ltd (Japan), OMRON Corporation (Japan), and ALPS Alpine Co., Ltd (Japan)|
|Key Drivers||•Increased consumer awareness is propelling the market for recovering stolen vehicles to new heights.
•The market for biometric vehicle security is growing.
|RESTRAINTS||•The market for stolen vehicle recovery is hampered by the high cost of stolen vehicle recovery equipment.
•During the projection period, the probable failure of electronic components may operate as a market restraint.
USD 12.54 billion is the market value in 2022.
The forecast period of the Stolen Vehicle Recovery Market is 2022-2030.
COVID-19 has had a negative influence on the stolen vehicle recovery business as a result of a large decrease in automobile spending. The imposition of lockdowns and the suspension of economic operations by a number of countries in an effort to limit the risk of pandemic spread led to a major decrease in sales, which was followed by a decline in trust among consumers.
The Asia Pacific region high share of the Stolen Vehicle Recovery Market
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Stolen Vehicle Recovery Market Segmentation, By Technology
8.2 Radio Frequency Identification
9. Global Stolen Vehicle Recovery Market Segmentation, By Component
9.1 Ultrasonic Intruder Protection System (UIP)
9.2 Backup Battery Siren (BBS)
9.3 Central Locking System
9.4 Automatic Collision Detection System
9.5 Automatic Driver Recognition System (ADRS)
9.6 Remote Keyless Entry System
10. Global Stolen Vehicle Recovery Market Segmentation, By Vehicle Type
10.1 Passenger cars
10.2 Commercial vehicles
11. Regional Analysis
11.2 North America
11.2.1 the USA
11.3.2 the UK
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Robert Bosch GmbH (Germany),
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Denso Corporation (Japan)
12.3 HELLA GmbH & Co. KGaA (Germany)
12.4 Valeo (France)
12.5 Mitsubishi Electric Corporation (Japan)
12.6 Continental AG (Germany)
12.7 Lear Corporation (US)
12.8 Tokairika, Co, Ltd (Japan)
12.9 OMRON Corporation (Japan)
12.10 ALPS Alpine Co., Ltd (Japan)
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
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