The global automotive smart security device market is experiencing significant growth and is expected to grow considerably in the next few years. Automotive smart security devices are an essential tool to prevent theft and to keep the vehicle protected from unwanted people. Further, automotive smart security device has significantly helped in reducing vehicle thefts across the globe due to automotive smart security devices such as sound alarm, shock sensor, central locking, and immobilizers. Many advanced automotive smart security devices, such as Avital 5103 and Eclipse 360 degree vehicle surveillance security system, are present in markets which are making the vehicle safer than ever before. Automotive smart security devices can be easily installed in almost all type of vehicles such as heavy vehicles, light vehicles, and passenger cars.

The global automotive smart security device market is segmented on the basis of type, vehicle type, and region. Based on type, the market is further bifurcated into keyless entry, alarm, immobilizer, and central locking. Based on vehicle type, the market is divided into passenger car, commercial vehicles, and off-highway vehicles. Geographically, the global market is analyzed across North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa.

Key players of the global automotive smart security devices market analyzed in the report include Lear Corporation, Robert Bosch GmbH, research institutes, European Automotive Research Partners Association (EARPA), Automotive Research Association of India (ARAI), Continental AG.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The mounting population across the globe is increasing the demand for automotive smart security device. This device is typically used as an important part of a vehicle to provide protection from unexpected incidents. In addition, rising car thefts across the globe have increased automotive smart security device demand at a higher pace. Regular incidents of theft have increased consumer awareness about numerous safety devices. It is installed by car manufacturers during production to vigilant drivers of certain unanticipated incident. Protruding theft incidence globally is fueling the automotive smart security device market growth globally. On the other hand, commercial vehicle and passenger vehicle segments are the fastest-growing sectors in the economy which fuels the market growth.

New product launches to boost the market

Thieves are getting increasingly sophisticated with their methods, owing to which automotive smart security device manufacturers are launching and continuously developing best automotive smart security devices. New technologies such as passive immobilizers, tracking systems, and personal alarm pagers.

RFID-Blocking Key Sleeves is another technology, which is fueling the automotive smart security device market share. In this technology, the vehicle will be equipped with RFID reader, besides the driver seat. Once the driver enters the vehicle, the driver needs to keep the RFID tag in RFID reader for clearing the security check. If the RFID tag is matched, then only the vehicle ignition will be started, or else the alert signal will be sent to the vehicle owner, along with location, with the help of GPS for location identification as well as the GSM for message sending. In addition, the vehicle will make emergency sounds with a buzzer. Such product development is expected to boost the market over the forecast period.

Growing competitiveness in the market and rising awareness among car owners for car safety

Many players across the industry are fueling competition that increases the competitiveness in automotive smart security device market. The key players are manufacturing different variety of products for various automobile parts. Surge in consumer needs for these security devices as well as increase in car purchase is enabling the demand for these devices at a faster pace. In addition, rising awareness among car owners toward car safety is driving the growth of the global market. The rising adoption of remote keyless entry systems (RKS) is a major trend, which is expected to escalate the demand for the automotive smart security device market.

COVID-19 scenario analysis:

• The global automotive smart security devices market revenue has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have slowed down, which significantly boosted the demand for automotive smart security devices.
• The global factories have struggled to manufacture and assemble new devices as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules and regulations, which disrupted the global supply chains.
• The impact of COVID-19 on this market is temporary as only the production & supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase.
• This is expected to provide opportunities for companies to think about ways of increasing production, research about technologies, and improve current products.

Market scope and structure analysis:

Key benefits of the report:

• This study presents the analytical depiction of the global automotive smart security device market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global automotive smart security device market trends.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global automotive smart security device market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global automotive smart security device market scope analysis based on competitive intensity and how the competition will take shape in the coming years.

Key segments covered:

Questions answered in the automotive smart security device market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?