Global In-vehicle security market overview and outlook:
- The global market for in-vehicle security systems is growing at a fast pace driven by rising consumer demand for increased safety and regulatory pressures to increase the safety and security standards of vehicles
- The growing number of connected cars and electronic content per vehicle are other key contributors to growth in this market globally. Going forward, the rising number of cloud-based applications and solutions and technological developments related to the autonomous vehicle segment will likely create favorable opportunities for automotive security manufacturers and other stakeholders in the value chain.
- Within the in-vehicle security market, we continue to witness increasing use of endpoint applications such as mobile, radio and smart antennas in vehicles and emerging markets as well as growing demand for applications such as telematics, ADAS and infotainment.
- With Vehicle Tracking solutions powered by IoT devices, a Vehicle Tracking System (VTS) is not only implementable but also economical.
- Within the regions, the Asia Pacific region is expected to dominate the market and outpace other markets in terms of forecast growth in the next five years. Growth in countries such as China and India led by increase in vehicle production and growing demand for connected vehicles is the key factor.
- Some of the major players in the global automotive cyber security market are Harman (US), Continental (Germany), NXP (Netherlands), Escrypt (Germany), and Aptiv (Ireland).
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Market Growth Drivers and Trends:
Key factors driving the global In-vehicle security market are:
- Regulatory mandates for vehicle data protection, cyber security aspects for connected and automated vehicles
- Collaborations between OEMs, suppliers and trade associations to share information on security systems
- Growing consumer awareness to have a more secured driving environment
- Upsurge in tech-savvy population
Potential Challenges:
Key factors likely to restrain or slow down growth in the global In-vehicle security market :
- High cost of systems – could be a deterrent especially in emerging markets
- Increasing demand for small and economic cars as a result of COVID could slow down growth
- Complex structure of the ecosystem with multiple stakeholders involved
Market Players Perspective:
- The vehicle security systems market is highly fragmented with a large number of multinational vendors and small regional players. Intense competition, advances in technology, and frequent changes in end-user preferences pose significant risks for vendors.
- In the next few years, competition is expected to intensify amid increase in product expansions and launches, technological innovations, and more consolidation among players aimed at achieving synergies and scale
- Notable firms which continue to dominate the global market include Delphi Automotive (Aptiv), Continental AG, Bosch,
Global In-vehicle Security Market Research Scope:
The base year of the study is 2019, with forecast done up to 2024. The report provides a detailed assessment of the global in-vehicle security market, including insights on the market dynamics, key drivers, challenges, regulations impacting the market, technology assessment and value chain analysis.
We have also estimated the current market size for in-vehicle security systems globally and by application type, by geography, and by vehicle type; 5-year outlook of the market, factors driving growth along with regional insights and trends
The study also presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the global in-vehicle security market.
Author – Prasanth R Krishnan
Associate Director – Operations
Connect to the author of the report at reports@avalonglobalresearch.com or contact us at https://www.agrknowledge.com/contact-us