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Vehicle Anti-theft System Manufacturers Find Low Cost Route to Ramp Up Production Amid Collaborations with Government Agencies

Fact.MR offers a comprehensive study on the global vehicle anti-theft system market for the forecast period of 2022 and 2027. The report also offers insights into the trends, opportunities, and recent developments across major geographies and segments including product, technology, vehicle type, and sales channel.

NEW YORK , Sept. 15, 2022 /PRNewswire/ -- The global vehicle anti-theft system market is set to be valued at US$ 11.5 Billion in 2022, and it is likely to reach a valuation of US$ 16.2 Billion by the end of 2027. The market is projected to grow at a CAGR of 7.1% during the assessment period of 2022-2027.

Growing concerns among automakers and car owners regarding vehicle safety are likely to generate high demand for vehicle anti-theft systems during the evaluation period. Further, government regulations associated with the use of standard anti-theft systems are also likely to drive the market during the forecast period. For instance, in Europe and North America , immobilizers have been made mandatory by governments to curtail the instances of car thefts.

Advancements in innovative technology are a key factor influencing growth in the vehicle anti-theft system market. New technologies, such as Bluetooth, near-field communication (NFC), and the internet of things (IoT) have bolstered the overall security apparatus of a vehicle, giving consumers more safety options.

Engine mobilizers, coded smart keys, and telematics locating systems and vehicle parts are also being installed in premium vehicles by original equipment manufacturers (OEMs). Continuous innovation in these technologies are likely to pave the way for further growth in the global market. 

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According to Fact.MR, based on product, demand for immobilizers is anticipated to grow at a CAGR of around 7.5% over the next five years. Various private organizations are teaming up with governments to mandate the installation of immobilizers as they are capable of providing a high level of security, as compared to other auto theft systems. Government agencies are also offering funds to private organizations for initiating production.

Immobilizers also alert owners of cars in the event of a forced entry, and some more sophisticated models even show the driver's identity and current location. Immobilizer installation requirements from authorities and insurance firms are anticipated to fuel this market expansion through 2027.

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Vehicle anti-theft system manufacturers are expected to focus on partnering with other companies and increasing their market presence by entering into mergers, collaborations, and partnerships. Further, many manufacturers are also focusing on collaborations with governments and local authorities to raise awareness about vehicle anti-theft systems.

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In its latest study, Fact.MR offers a detailed analysis of the global vehicle anti-theft system market for the forecast period of 2022 to 2027. This study also divulges key drivers and trends promoting the sales of vehicle anti-theft systems through detailed segmentation as follows:

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