The stolen vehicle recovery solution is a reliable and effective system to reduce the chances of vehicle theft with the help of numerous components, such as remote keyless entry system, central locking system, ultrasonic intruder protection system (UIP), and automatic collision detection system. This solution comprises detection, prevention and response to threats with the help of technologies, such as radio frequency identification, and ultrasonic. The stolen vehicle recovery solution providers are highly involved in designing technologies such as, biometric technology and radio frequency identification that has depleted the stolen vehicle rate. Thus, such factors are likely to drive the global stolen vehicle recovery market during the forecast period.
MARKET SCOPE
The "Global Stolen Vehicle Recovery Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the stolen vehicle recovery market with detailed market segmentation by component, technology, vehicle type, and geography. The report provides key statistics on the market status of the leading stolen vehicle recovery market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global stolen vehicle recovery market is segmented into Ultrasonic Intruder Protection System (UIP), Backup Battery Siren (BBS), Central Locking System, automatic collision detection system, and others
- On the basis of technology, the market is segmented into ultrasonic, radio frequency identification, and others.
- Based on vehicle type, the market is segmented into passenger cars and commercial vehicles.
MARKET DYNAMICS
Drivers:
- The growing incidents of vehicle theft is driving the stolen vehicle recovery market.
- The increasing passenger and commercial vehicles production is anticipated to surge the growth of stolen
Restraints:
- The high manufacturing cost may restrain the growth of the stolen vehicle recovery market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The stolen vehicle recovery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the stolen vehicle recovery market in these regions.
IMPACT OF COVID-19 ON STOLEN VEHICLE RECOVERY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the stolen vehicle recovery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from stolen vehicle recovery market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the stolen vehicle recovery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Altron
- Bosch Service Solutions GmbH
- Cartrack
- Digital Matter
- Ituran
- LoJack (CalAmp Corp.)
- Spireon, Inc.
- TELTONIKA
- Tracker
- TRACKMATIC UK