DUBLIN, Nov 15, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Vehicle Anti-Theft System Market - Global Forecast to 2021" report to their offering.
The vehicle anti-theft system market, in terms of value, is projected to grow at a CAGR of 7.76% from 2016 to 2021. The market is estimated to be USD 6.59 Billion in 2016, and is projected to reach USD 9.57 Billion by 2021. The growth of the vehicle anti-theft system market is fueled by increasingly stringent safety regulations, technological advancements, and the growing adoption of biometric technologies. The vehicle anti-theft system market has been segmented on the basis of product, technology, vehicle type, and region. The market has been segmented on the basis of product type into alarms, steering locks, immobilizers, passive keyless entry, biometric capture devices, and central locking. The immobilizer segment is estimated to account for the largest market share, in terms of value, in 2016. The vehicle anti-theft system market has been segmented by technology into global positioning system, global system for communication, face detection system, real-time location system, remote frequency identification device, and automotive biometric technology. The automotive biometric technology segment is expected to hold the largest market share, by value, in 2016. A key factor driving the vehicle anti-theft system market is the progressively stringent safety regulations in the automotive industry. Upcoming advanced safety technologies are also expected to boost market growth. The Asia-Pacific region is estimated to dominate the vehicle anti-theft system market, in terms of value, in 2016. The increasing demand for multifactor authentication and rising use of biometric technology are key factors driving the growth of the vehicle anti-theft system market across all regions.