An Incisive, In-depth Analysis on the Car Security System Market
This study offers a comprehensive, 360 degree analysis on the Car Security System market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Car Security System market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Car security systems have greatly helped in reducing car thefts around the world. On the other hand, increasing instances of vehicle thefts in countries such as South Africa and India have shown the importance of car security systems. Different automakers offer different car security systems such as immobilizers, glass break sensors, inclination sensors, shock sensors, stolen vehicle trackers, central locking systems, perimeter sensors, alarm systems etc. North America has the largest aftermarket share and China is the biggest production base. With the increasing car security consumption in APEJ region and rising awareness among car owners, the region is expected to overtake the North America market in the coming years.
Global sales of car security systems was valued at US$ 6,479.2 Mn in 2015 and is projected to reach US$ 12,170.8 Mn by 2026. Sales revenue is expected to increase at a CAGR of 6.0% during the forecast period (2016–2026).
Increasing overall car production and rising instances of car thefts are fuelling the global car security system market
Rising awareness among car owners due to increasing instances of car thefts are consolidating the car security system market. Along with increasing overall car production, there is a raising demand for car security systems. Increasing car fleet and limited life of some car security products are bolstering the replacement market. Moreover, insurance policies and government regulations are forcing automakers to install these car security systems as standard features in new cars. According to Western Australia Department of Transport, fitment of immobilizer is mandatory before licensing and transferring a vehicle in a territory. But high cost of these systems are limiting the global car security system market, some systems are offered as optional while some are preserved for luxury cars.
By Car Type
By Sales Channel
By Product Type
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OEM market has lower prices as compared to aftermarket prices
Globally OEM market is the major market whereas aftermarket has higher growth than OEM market. But in Middle East and Africa region, aftermarket has 65% share of car security system market by region in given products. OEM market has lower prices as compared to aftermarket prices.
Immobilizer systems have huge penetration in OEM market while aftermarket is dominated by remote central locking system
In terms of volume, immobilizer system has huge penetration in OEM market where aftermarket is dominated by remote central locking system, owing to larger lifespan of immobilizer systems. Due to increasing adoption of other systems in economic cars and mid-range cars, other system segment is expected to register the highest CAGR of 6.0% over the forecast period.
Mid-range cars segment is estimated to possess 56.9% share of the market
Economic cars are now being equipped with various security systems as a standard, rising penetration of security systems in economic cars along with increasing production of economic cars are driving the market and increasing the Y-o-Y growth rate over the forecast period. Mid-range car segment is estimated to possess 56.9% share of the market.
Turkey, South Africa, Mexico, India and China are the fastest growing car security systems markets
APEJ has the highest CAGR of 8.7% with largest market as China and South Korea with share of 65.8% and 11.5% respectively in 2015. Countries such as Turkey, South Africa, Mexico, India and China are the fastest growing markets. Western Europe is estimated to have 19.9% share of global market with leading country as Germany, whereas Spain, UK and France share 13.0%, 13.4% and 13.2% of Western Europe car security system market.
As aftermarket segment is highly fragmented, new entrants are focussing on this segment of the market
Key players in the global car security system market include Valeo S.A., Continental A.G., Delphi Automotive PLC, Hella KGaA Hueck & Co., Tokai Rika Co., Ltd., Mitsubishi Electric Corporation, Denso Corporation, Robert Bosch GmbH, Lear Corporation, Omron Corporation.
Aftermarket is highly fragmented, new entrants are focussing on the aftermarket segment. Car OEMs are shifting towards growing economies, car security system manufacturers are focussing on such regions where car OEMs are establishing new production plants.
In the report, “Car Security System Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026”, Future Market Insights analyses the global car security system market for the period 2016–2026. The primary objective of the report is to offer updates and market opportunities in the global car security system market.
To understand and assess the global car security system market, the report is categorically split into four sections: market analysis by region, by product type, by car type and by sales channel. The report analyses the global car security system market in terms of market value (US$ Mn) and volume (‘000 Units)
The report starts with an overview of the car security system market across the globe. This section also includes FMI’s analyses of key trends, drivers and restraints from the supply and demand perspectives. Impact analysis of key growth drivers and restraints based on the weighted average model are included in the report to better equip and arm clients with crystal-clear, decision-making insights.
The next section of the report includes analysis of the global car security system market on the basis of geographical segmentation. The global car security system market is geographically segmented into seven key regions:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific Excluding Japan
- Middle East and Africa
The section that follows analyses the market on the basis of product type and presents the forecast in terms of volume and value for the next 10 years. Product type covered in the report are:
- Immobilizer System
- Remote Central Locking System
- Alarm System
- Other Systems (Vehicle Trackers, Perimeter Sensor, Ultrasonic Sensor and Glass Break Sensor)
This is followed by a section analysing the market based on car type and presents the forecast in terms of volume and value for the next 10 years. By car type, the market is segmented into:
- Economic Cars
- Mid-Range Cars
- Premium Cars
The next section analyses the market based on sales channel and presents the forecast in terms of volume and value for the next 10 years. By sales channel, market is segmented into:
- OEM Market
In the final section of the report, the car security system market landscape is included to provide report audiences with a dashboard view, based on categories of providers across the value chain, presence in car security system product portfolio and key differentiators.
To calculate the market size, the report considers the average selling price of various types of car security systems based on car type and regions across geographies. Market prices are taken at manufacturer’s level which also vary by sales channel- OEM and Aftermarket. Market size has been calculated differently for OEM market and aftermarket. Each of these sales channel follow different trends and provide different opportunities in the various segments. Final addition of both the sales channel is done after calculating market split by car type, product type and region. Furthermore, qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented here assesses the total revenue from the car security system market.
When developing the market forecast, the starting point is sizing up the current market and previous years market, which forms the basis on how the market is anticipated to take shape in the near future. Given the characteristics of the market, we triangulated the outcome on the basis of various analysis results based on supply side and demand side. However, quantifying the market across the aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the car security system market.
As previously highlighted, the market for car security system is split into various segments, based on region, product type, car type and sales channel. All these segments or categories have been analysed in terms of basis point share (BPS) to understand individual segment’s relative contribution to growth. This detailed level of information is important for identification of many key trends in the car security system market.
Another key feature of this report is the analysis of the car security system market by region, product type, car type and sales channel and its revenue forecast in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global car security system market.
Furthermore, to understand key segments in terms of growth and performance in the car security system market, Future Market Insights developed a market attractiveness index. The resulting index should help providers to identify real market opportunities.