The Automotive Immobilizer Market to grow by USD 1.01 billion between 2023 and 2028, Growth Driven by demand for high security and theft protection in vehicles – Technavio

The adoption of biometric-based vehicle security systems is an emerging trend shaping the growth.

NEW YORK, Jan. 24, 2024 /PRNewswire/ — The automotive immobilizer market is estimated to grow by USD 1.01 billion from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of  6.11% during the forecast period. However, the growth momentum will progress. Demand for high security and theft protection in vehicles is notably driving the growth. Auto theft remains a persistent global issue, prompting increased demand for effective security solutions to address this concern. Automobile immobilizers are vital deterrents that make vehicle theft more challenging. Many countries, including the US, Canada, and China, have enforced regulations mandating the inclusion of anti-theft devices like immobilizers in new vehicles. Effective immobilizers reduce vehicle theft, resulting in fewer insurance claims and lower payouts for insurers. This financial incentive encourages the adoption of anti-theft technologies.

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Technavio has segmented the market based on Vehicle Type (Passenger cars and Commercial vehicles), Source (OEM and Aftermarket)

The passenger cars segment is estimated to witness significant growth during the forecast period. The rise of automobile immobilizers in passenger vehicles has surged due to increased security needs and a desire to curb auto theft. Manufacturers and regulators acknowledge the importance of effective anti-theft measures. Growing consumer awareness has boosted demand for cars with immobilizer systems.

By geography, the global market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive immobilizer market.

APAC is estimated to contribute 55% to the growth during the forecast period. APAC plays a key role in driving its growth. The region’s strong automotive industry, technological progress, and rising security needs have boosted demand. Major countries like China, Japan, India, Indonesia, South Korea, Thailand, and Australia are driving expansion through high automobile sales.

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The adoption of biometric-based vehicle security systems is an emerging trend shaping the growth. The high replacement cost of electronic and smart keys is a significant challenge hindering growth.

Insights on Drivers, trends, & Challenges, historic period(2018 to 2022), and forecast period(2024 to 2028)- Request a Free sample report!

What are the key data covered in this report?

CAGR during the forecast periodDetailed information on factors that will drive the growth  between 2024 and 2028Precise estimation of the size and its contribution to the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the Automotive Immobilizer industry across APAC, North America, Europe, Middle East and Africa, and South AmericaA thorough analysis of the competitive landscape and detailed information about companiesComprehensive analysis of factors that will challenge the growth of Automotive Immobilizer companies

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Automotive immobilizers: Applications

Automotive immobilizers, utilizing technologies like transponder keys, electronic control units (ECUs), radio frequency identification (RFID), and engine control modules (ECMs), are integral to vehicle security systems. Central locking systems, smart keys, and passive anti-theft systems (PATS) are key components, along with vehicle theft deterrence (VTD) and biometric recognition. Bluetooth immobilizers and near-field communication (NFC) are advancing automotive security, supported by encryption algorithms and keyless entry systems. Vehicle manufacturers and aftermarket suppliers are driving innovation in automotive electronics and wireless communication technology, integrating features like the global positioning system (GPS) and vehicle telematics. Considerations include automotive cybersecurity, trends, consumer demand, regulatory frameworks, automotive safety standards, emerging markets, and strategies for theft prevention.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Vehicle Type

Segmentation by Source 

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.

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SOURCE Technavio