Passenger Car Security Systems: Introduction
- An example of a passenger car security system would be an engine immobilizer system. This system requires a vehicle key embedded with a transponder. When such a key is used for unlocking the vehicle, the engine control unit (ECU) recognizes the signal transmitted by vehicle key and only then unlocks the vehicle. In case the code from the key transponder is not recognized by the ECU, it would send a signal to activate an alarm system, which in turn would sound an alarm.
Key drivers of global passenger car security systems market
- The vehicle safety concerns are rising among the countries leading them to enact various safety standards. Furthermore, governments are mandating automakers to increase safety of vehicle through enactment of stringent rules and legislations in various countries worldwide. For instance, South Africa, Russia and Ukraine, Japan and other countries from EU have agreed to implement common vehicle standards for increasing vehicle safety. The UN legislations encourage all countries to adopt UN Regulations 14, 16, 94, 95 which refer to Seat belts for seats, occupant protection in frontal collision, occupant protection in side or lateral collision respectively and Electronic Stability Control (ESC) (GTR 8) and Global Technical Regula)on (GTR) 9. Therefore various safety standards enacted by governments are driving the market for passenger car safety systems.
- Also the technological advancements have led to develop ADAS, AEB, ABS, central locking system, collision warning system, cruise control system, anti-lock braking systems, blind spot detector, etc. The availability of these systems in the market have spread awareness and importance of vehicle safety among the population. Therefore, there is rise in number of consumer seeking safety enabled passenger vehicles, This, in turn, is propelling the expansion of global passenger car security systems market.
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High Cost of premium safety features is likely to hamper the global passenger car security systems market
- Increasing use of various electronic components, such as transponder keys, ECU, sensors, control switches, and alarms, in modern passenger vehicle security systems further drives the cost of vehicles. High cost of these vehicles is likely to hamper the global passenger car security system market.
- Modern security systems use various electronic components such as interactive dashboards, cameras, temperature sensors, proximity sensors, and ECUs. Potential failure of electronic components used in vehicle security systems is likely to hamper the market for global passenger car security systems.
Asia Pacific to dominate global passenger car security systems market
- Various free trade agreement between Europe-Asia, U.S.-Asia have resulted in economic development of counties such as India, China, Malaysia, and South Korea in Asia Pacific region. This has resulted in rising life standard and increase in disposable income of the population, leading them to own a vehicle.
- Furthermore, government legislations enacted by various countries and organizations are mandating the automakers to increase safety features of vehicles. For instance, Government of UK, UN regulations, EU Standards on Vehicle Safety by European Transport Safety Council, safety regulation by SIAM India, etc. are few of the governing authorities that mandate installing anti-theft systems, vehicle tracking systems, vehicle immobilizing systems etc. in vehicles. This, in turn, drives the need for vehicle components that boost vehicle security.
- All the factors mentioned above are driving the global passenger car security systems market in Asia Pacific
Key players operating in global passenger car security systems market:
The global passenger car security systems market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global passenger car security systems market are:
- DENSO Corporation
- Pricol Limited
- Robert Bosch GmbH
- Minda Industries Ltd.
- Nippon Audiotronix Pvt. Ltd.
- Continental AG
- Hella GmbH & Co. KGaA
- Tokai Rika Co. Ltd.
- ZF Friedrichshafen AG
- TRW Automotive
- Alps Electric
- Mitsubishi Electric Corporation
- Autocop India Pvt. Ltd.
- Lear Corporation
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Global Passenger Car Security Systems Market: Research Scope
Global Passenger Car Security Systems Market, by type of Vehicle Type
- UVs (LUV, SUV, etc.)
Global Passenger Car Security Systems Market, by Component
- RF Antennas
- Electronic Ignition Locks
Global Passenger Car Security Systems Market, by Technology
- Central Locking System
- Vehicle Immobilizer System
- Collision Warning System
- Cruise Control System
Global Passenger Car Security Systems Market, by Sales Channel
Global Passenger Car Security Systems Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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