Market Research Future Insights
According to MRFR analysis, the global Stolen Car Recovery market Size is expected to register a CAGR of ~ 7.60% from 2023 to 2032 and hold a value of over USD 12.57 Billion by 2032.
Tracking and recovering stolen automobiles is referred to as stolen vehicle recovery (SVR). To find and recover the stolen vehicle, GPS and cellphone technology are frequently used.
SVR systems can be added as an aftermarket addition or built into the vehicle. The market for recovering stolen vehicles has not been significantly impacted by the COVID-19 outbreak. While the demand for vehicles has decreased as a result of the lockdowns and travel restrictions, the quantity of vehicle thefts has not significantly decreased.
In fact, in some areas, there has been an increase in vehicle theft due to the lack of enforcement and surveillance. This has led to continued demand for SVR solutions, as more people look for ways to protect their vehicles.
Key Players
· Denso Corporation (Japan)
· Robert Bosch GmbH (Germany)
· HELLA GmbH & Co. KGaA (Germany)
· Valeo (France)
· Mitsubishi Electric Corporation (Japan)
· Continental AG (Germany)
· Lear Corporation (US)
· Tokairika, Co, Ltd (Japan)
· OMRON Corporation (Japan)
Regional Analysis
Asia-Pacific region is expected to hold the largest share in the global Stolen Vehicle Recovery (SVR) market in the coming years. This can be attributed to factors such as the increasing number of vehicle thefts, the growing demand for connected vehicles, and the presence of a large and rapidly growing automotive market in the region.
Additionally, the rise in disposable income and the growing awareness of SVR solutions are also expected to drive the growth of the SVR market in Asia-Pacific. The region is also home to several leading SVR providers and manufacturers, further consolidating its position as a key player in the market.
Stolen Car Recovery market Scope:
The Stolen Car Recovery market refers to the industry involved in the development and deployment of technology and services aimed at locating and recovering stolen vehicles. This includes GPS tracking systems, telematics systems, and software-based solutions that help law enforcement and vehicle owners track down stolen vehicles.
The scope of the Stolen Car Recovery market is quite vast and covers a range of services and technologies. Some of the key players in this market include automotive OEMs, insurance companies, telematics service providers, and technology companies that specialize in GPS tracking and recovery solutions.
The market is expected to grow due to increasing incidents of vehicle theft and the growing demand for connected cars and advanced safety and security systems. The growth of the automotive industry and the increasing number of vehicles on the road are also contributing factors to the growth of the stolen vehicle recovery market.
In conclusion, the Stolen Car Recovery market is a rapidly growing industry that offers a wide range of solutions and services to help recover stolen vehicles. With the increasing demand for advanced safety and security systems, the market is expected to continue its growth trajectory in the coming years.
Market Segmentation
The Global Stolen Vehicle Recovery Market Share has been segmented into technology and component.
Based on the technology, the market has been segmented into Ultrasonic, RFID, and Others.
Based on the component, the market has been segmented into UIP, BBS, Central Locking Systems, ACDS, ADRS, and Remote Keyless Entry Systems.
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