London, 22 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the global passenger car security systems market 2015-2019, which is expected to post significant growth at a CAGR of 4.01% during the forecast period of 2014-2019.
With the increasing number of car thefts, there is growing awareness about passenger car security systems among end-users. Vendors are also increasing their reach through advertisements, trade fairs, seminars and webinars, and other promotional events. This is helping end-users in choosing suitable passenger car security systems.
“Several mobile app vendors are introducing vehicle tracking systems, which can be easily installed in the mobile devices,” says Faisal Ghaus, Vice President of Technavio.
“These apps help drivers connect their smartphones wirelessly through the Internet to the vehicle for functions such as tracking vehicle location, lock/unlock a car, remotely start a car, and press the panic button in case of emergency.”
Key Market Drivers
- Growing Customer Awareness
- Need for Reliable Passenger car security Systems
- Need to Comply with Government Regulation
- Availability of Affordable Passenger car security Solutions
Key Market Trends
- Increase in Number of Partnerships
- Increased Usage of Smart Mobile Apps in Passenger car security Systems
- New Alliances among Service Providers
- Increased Adoption in Developing Countries
Key Market Vendors
- Alps Electric Co. Ltd.
- Continental AG
- Delphi Automotive LLP
- Mitsubishi Electric Corp.
- Robert Bosch GmbH
- TRW Automotive Holdings Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
