Car Security System Market would be worth $33.8 billion in 2031

Car Security System Market

In 2021, the worldwide car security system market is expected to be worth $11.1 billion. The automotive industry’s soaring demand for high-capacity automobiles is predicted to boost sales of car security systems by 11.8 percent CAGR. According to Future Market Insights (FMI), the market would be worth $33.8 billion in 2031.

According to Future Market Insights, global car security system sales would reach $33.8 billion by 2031. By 2020, the automobile security system market would account for roughly 5% of the total automotive electronics market.

Competitive Landscape

Continental AG, Valeo, Hella, Robert Bosch, and Tokai Rika are the major market players in the car security system industry, according to Future Market Insights. Top automakers are attempting to develop innovative end-to-end solutions and products while restricting the aftermarket to their approved dealers.

Continental AG, for example, is working on ultra-wideband (UWB) radio technology as part of the auto connection consortium’s vehicle access solution (CCC). The new technology aims to provide a hands-free operating system while also improving anti-theft security.

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