Anti-Theft System Market Expected to Reach $116.2 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Anti-Theft System Market, by Component (Hardware, Software, Services), By Product Type (Biometric Capture Devices, Remote Keyless Entry, Alarm, Others), By Industry Verticals (Automotive, BFSI, Consumer Electronics, Government, Retail, Others): Global Opportunity Analysis And Industry Forecast, 2023-2032". The anti-theft system market was valued at $36.8 billion in 2022, and is estimated to reach $116.2 billion by 2032, growing at a CAGR of 12.5% from 2023 to 2032.

Several major trends are reshaping the landscape of the anti-theft system market forecast, as there is a notable shift towards integrated and interconnected security solutions. This trend involves the convergence of various technologies such as AI, IoT, and cloud-based systems to create more comprehensive and adaptable security ecosystems. In addition, there is a growing emphasis on user-friendly and accessible interfaces, allowing for easier management and monitoring of security measures. Furthermore, there is rise in demand for biometric authentication and facial recognition technologies, enhancing the accuracy and reliability of access control systems. Moreover, the market is witnessing increase in adoption of smart surveillance systems equipped with AI-driven analytics for real-time threat detection and response. Furthermore, sustainability and energy efficiency have become significant trends, with a focus on eco-friendly and energy-saving security solutions. These trends collectively signify an industry shift towards more sophisticated, interconnected, and environmentally conscious anti-theft systems.

Furthermore, major players in the anti-theft system industry are adopting various strategies to cater to the changing consumer preferences and offer more enhanced services to their customers. For instance, on January 18, 2022, Automaker Ford and ADT, a company that provides home and business security and alarm monitoring services, launched a joint venture called Canopy that aims to address vulnerabilities in current vehicle security offerings. Canopy will initially offer an aftermarket accessory that can be mounted onto a vehicle to monitor its surroundings and alert drivers of issues like theft or vandalism. Furthermore, on July 18, 2023, Versuni, formerly known as Philips domestic appliances expanded into home safety products. The latest range includes three smart security cameras and a new Home Safety app. The company claims that the Philips Home Safety solutions will combine artificial intelligence, user-friendliness, and reliability to offer users “a range of benefits.” Philips’ latest security cameras will come with smart capabilities that will be able to differentiate between motion, noise and people. Thus, such strategies adopted by players in the anti-theft system industry will enhance the growth of the market across the globe and will further increase the adoption of anti-theft system policies in the upcoming years.

On the basis of industry vertical, the automotive segment is the highest growing segment due to the critical need for vehicle security. With increasing incidents of car thefts, the demand for advanced anti-theft systems, such as immobilizers, GPS trackers, and alarms, surged, driving the automotive segment's dominance in the market. However, the consumer electronics segment is expected to be the fastest growing segment during the forecast period, due to the increasing ownership of expensive gadgets like smartphones, laptops, and tablets. People rely heavily on these devices for various purposes, making them prime targets for theft. Consequently, there's a growing awareness and need for effective anti-theft measures specifically tailored for consumer electronics. This rising concern about protecting personal electronics is propelling the rapid growth of anti-theft systems in this sector.

Asia-Pacific has secured the largest share in the anti-theft system market in 2022 and it is forecasted to be the fastest growing segment during the forecast period. This is due to the fact that this area has seen a significant rise in vehicle ownership, creating a higher demand for anti-theft systems to safeguard these investments. In addition, there is a growing awareness about the importance of security measures, which has led more people to invest in these systems. Moreover, advancements in technology have made these systems more affordable and accessible to a wider audience in this region. As a result, Asia-Pacific is expected to continue leading the market because of its increasing vehicle ownership, rising awareness, and improved accessibility to anti-theft solution.

The impact of COVID-19 on the anti-theft system market was largely positive. The pandemic heightened concerns about security across various domains as businesses, homes, and institutions adapted to remote work and online operations. This shift amplified the need for robust security measures to protect valuable assets and sensitive information. Consequently, the demand for anti-theft systems surged as organizations and individuals sought enhanced protection against cyber threats and physical breaches, thereby driving market growth during and beyond the pandemic.

Key findings of the study

• By component type, the hardware segment led the anti-theft system market in terms of revenue in 2022.
• By product type, the biometric capture devices segment accounted for the highest anti-theft system market share in 2022.
• By industry vertical, the automotive segment accounted for the highest anti-theft system market size in 2022.
• By region, Asia-Pacific generated the highest revenue in 2022.

The report profiles the key players operating in the anti-theft system market analysis such as ADT, ASSA ABLOY, CP Plus Corporation, Dahua Technology Co., Ltd, GALLAGHER GROUP LIMITED, Godrej, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc., Securitas AB, and Tyco Security Products. These players have adopted various strategies to increase their market penetration and strengthen their position in the anti-theft system market.