Vehicle Security System Global Market Report 2024

Vehicle security systems are devices designed to protect vehicles by utilizing sensors or alarms to monitor against theft and unauthorized actions. These systems often incorporate factory alarm system controls, door lock controls, and computerized data networks to enhance the security of vehicles.

The main types of products in the vehicle security system market include immobilizers, alarm systems, tracking systems, central locking systems, remote keyless entries, and others. Immobilizers play a crucial role in securing vehicles by preventing theft through mechanisms that reduce the risk of hotwiring and unauthorized access. Various technologies, such as the global positioning system (GPS), global system for mobile communication (GSM), face detection systems, and real-time location systems, are implemented in different vehicle types, including passenger cars, commercial vehicles, and others.

The vehicle security system market research report is one of a series of new reports that provides vehicle security system market statistics, including vehicle security system industry global market size, regional shares, competitors with a vehicle security system market share, detailed vehicle security system market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle security system industry. This vehicle security system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vehicle security system market size has grown strongly in recent years. It will grow from $9.26 billion in 2023 to $10.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The expansion observed in the historical period can be attributed to several factors, including the rising rates of vehicle theft, increased consumer awareness of the importance of vehicle security, the integration of immobilizers for enhanced protection, requirements imposed by the insurance industry, and advances in keyless entry systems.

The vehicle security system market size is expected to see strong growth in the next few years. It will grow to $13.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to various factors, including the proliferation of connected car technologies, the increase in vehicle digitization, the adoption of biometric vehicle access systems, the establishment of regulatory standards for vehicle security, and the rising concerns about cybersecurity for connected vehicles. Key trends expected in the forecast period encompass the development of advanced vehicle encryption systems, the integration of artificial intelligence in security algorithms, the expansion of remote vehicle monitoring capabilities, the application of blockchain for secure vehicle data, and the evolution of multi-layered authentication in vehicle access systems.

The vehicle security system market is anticipated to experience growth driven by the increasing threat of cyberattacks. Defined as deliberate attempts to breach the information systems of individuals or organizations, cyberattacks pose a growing concern as automotive innovation advances. Vehicle security systems play a crucial role in securing electronic systems, communication networks, software, and data within modern intelligent cars. The protection they offer is vital in preventing data theft or unauthorized control of vehicles. According to the Automotive Cybersecurity Report 2021 by Upstream, cyberattacks on cars increased by 225% from 2018 to 2021, with 85% of the attacks in 2021 being executed remotely. Therefore, the escalating frequency of cyberattacks is a key driver for the growth of the vehicle security systems market.

The vehicle security system market is also poised for growth due to an increase in vehicle ownership. Vehicle ownership, referring to the legal possession and control of motorized vehicles, necessitates the use of security systems to ensure the safety and protection of the vehicle. These systems offer peace of mind to owners by safeguarding against theft, break-ins, and vandalism. The role of vehicle security systems is integral in mitigating the risks associated with vehicle ownership and enhancing the overall ownership experience. Statistics Canada reported in 2021 that the total number of registered road motor vehicles in Canada increased to 26.2 million, marking a 1.9% rise from 2020. Hence, the upward trend in vehicle ownership is expected to drive the vehicle security system market.

Technological advancements represent a prominent trend in the vehicle security system market, with major companies focusing on developing innovative solutions. An example of this trend is Ford's collaboration with ADT Security Services in January 2022 to establish a $100 million joint venture called Canopy. This venture aims to prevent vehicle theft through the use of sensors and artificial intelligence (AI). Canopy provides an aftermarket security product that utilizes AI to identify and report credible threats, triggering alarms in response to signs of metal cutting, breaking glass, or suspicious sounds or motion near a vehicle. The primary objective is to prevent vehicle theft proactively.

Major companies in the vehicle security systems market are launching innovative products to maintain competitiveness, such as Volvo Cars' Front Short-Range Assist, designed to enhance the safety of cyclists and pedestrians. Introduced in May 2023, this safety system uses radar and camera technology to detect potential collisions with cyclists or pedestrians in front of the truck, issuing warnings to the driver when necessary. The system also features a door opening warning system, alerting the driver if there is an approaching pedestrian, cyclist, or car from behind when the door is opened. Other features include Intelligent Speed Assist and Tire Pressure Monitoring System.

In September 2021, LG Corporation acquired Cybellum, an Israel-based cybersecurity risk assessment company, for an undisclosed amount. This strategic acquisition aims to strengthen LG's security systems in automotive offerings, particularly in the areas of infotainment and telematics. Cybellum's risk assessment software, capable of scanning vehicle components for vulnerabilities and risks, enhances LG's capabilities in ensuring robust cybersecurity for its automotive products.

Major companies operating in the in the vehicle security system market report are Continental AG, Delphi Technologies, Denso Corporation, Hella Kgaa Hueck & Co, Lear Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Tokairika Co. Ltd., Valeo SA, TRW Automotive India Private Limited, ZF Friedrichshafen AG, Aptiv plc, Omron Corporation, Clifford, Viper Security Systems, Stoneridge Inc., Marquardt GmbH, I Car Systems, NXP Semiconductors Inc., Panasonic Corporation, Autoliv Inc., Johnson Controls Inc., Magna International Inc., Mobileye NV, WABCO Vehicle Control Systems, Gentex Corporation, Nippon Seiki Co. Ltd., Visteon Corporation, Harman International Industries Inc., TomTom International BV

Asia-Pacific was the largest region in the vehicle security system market in 2023. The regions covered in the vehicle security system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the vehicle security system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The vehicle security system market consists of sales of passive security systems, active security systems, alarms and immobilizing devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.