Global Stolen Vehicle Tracking Software Market by Technology (Ultrasonic, RFID, and Other Technologies), By Component (UIP, BBS, Central Locking System, ACDS, ADRS, and Remote Keyless Entry System), By Vehicle (Passenger Car, LCV, HCV, and Electric Vehicle), By Sales Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Stolen Vehicle Tracking Software Market size is expected to be worth around USD 14.3 Billion by 2032 from USD 6.8 Billion in 2022, growing at a CAGR of 7.90% during the forecast period from 2023 to 2032.

The ability to track stolen automobiles is provided by stolen vehicle tracking software, a kind of telematics technology. The system is often placed in cars and tracks the location of the car using cellular, GPS, or radio frequency technologies.

The market for stolen car monitoring software is expanding within the automotive industry as a result of an increase in vehicle thefts and the demand for better vehicle security. The COVID-19 pandemic has risen in awareness among consumers about vehicle safety driving the global stolen vehicle recovery market.

Driving Factors:

Increasing Incidents of Vehicle Theft and advancements in GPS Technology Driving the Market

Due to an increase in vehicle theft, there is an urgent need for vehicle theft recovery solutions. Stolen vehicle tracking software is an efficient way to locate and recover stolen vehicles that’s why this market is growing rapidly. Technology advancements have enabled the creation of advanced stolen vehicle tracking software. This program offers remote control and real-time monitoring capabilities.

As a result, demand for this type of service is on the rise. The market for stolen vehicle monitoring devices is growing also due to government regulations requiring their installation in automobiles. For instance, in certain nations, it’s become mandatory to install GPS tracking devices on commercial vehicles as a form of security measure.

Restraining Factors:

High Cost of Installation and Maintenance, Limited Coverage, and Privacy Concerns are Some Restraints for the Stolen Vehicle Tracking Software Market

Particularly for individuals or small organizations, the cost of implementing and maintaining stolen vehicle tracking software can be significantly high. This may discourage some potential users from utilizing the technology. GPS technology is frequently used by stolen vehicle tracking software to locate stolen automobiles.

The effectiveness of the device may be constrained by the low or inconsistent GPS coverage in some places. Stolen vehicle monitoring software collects location data and other personal information, which can cause privacy issues among certain customers. This may discourage users from implementing the technology, especially if they have doubts about the security of their data.

Growth Opportunities

Increased Demand, Technological Advancements, and Emerging Markets Creates Opportunities

The need for stolen car tracking software is anticipated to expand along with the number of vehicle theft incidences. Companies in the industry have a great chance to take advantage of this and increase their product offers and market share. With the quick development of GPS technology, there is a chance to create more sophisticated and powerful stolen vehicle tracking systems that are more precise and dependable than ever.

This might aid businesses in standing out from the competition and gaining a competitive advantage. In many developing nations, the market for stolen vehicle monitoring software is still in its beginning stage, giving businesses the chance to seize market share as these nations develop further.

Trending Factors

Integration with other Technologies, Cloud-based Solutions, and Mobile Applications are Some Recent Trends in the Stolen Vehicle Tracking Software Market.

Software for tracking stolen vehicles is being incorporated with telematics, fleet management, and insurance services, among other technologies. Users are getting a more complete solution thanks to this connection, which not only tracks the stolen car but also offers other value-added services. Solutions for cloud-based stolen car tracking are growing in popularity.

Real-time information regarding the location of the car is provided via cloud-based solutions, and it is accessible from any internet-connected device. Users can track their automobiles using mobile applications on their smartphones or tablets thanks to the availability of several stolen vehicle tracking software providers.

This function gives consumers up-to-date location data about their car and may be particularly helpful if it were to be stolen. To increase the solutions’ accuracy and dependability, stolen car tracking software is progressively utilizing AI and ML. Algorithms using AI and ML can examine data to find trends that might be used to deter theft or aid in the recovery of stolen automobiles. Software companies that track stolen vehicles are collaborating with other businesses to create integrated solutions.

For instance, some service providers collaborate with insurers to provide insurance discounts to clients who download their stolen vehicle tracking software. These collaborations assist suppliers in diversifying their offers while also giving users extra benefits.

COVID-19 Impact Analysis

COVID-19 affected both ways on Stolen Vehicle Tracking Software market. Because of the epidemic, fewer people are driving and there are fewer vehicles on the road, which has decreased demand for stolen vehicle monitoring software.

In the short term, this has led to a reduction in sales for some providers. Supply chains have been hampered by the pandemic, which has caused delays in the manufacturing and distribution of stolen car tracking systems. Some providers’ capacity to complete orders and meet client demand has been hampered by this.

Since more people are working from home and leaving their cars unattended for extended periods as a result of the pandemic, security concerns have also increased. This has increased the need for security systems and software for tracing stolen vehicles.

The pandemic has brought attention to the necessity for remote monitoring capabilities, and in response, several vendors of stolen car tracking software have created products that enable users to track their vehicles using mobile devices. Due to the need for more practical and accessible solutions, the pandemic has spurred the adoption of new technologies like mobile applications and cloud-based services.

Technology Analysis

The RFID Technology Segment is The Most Lucrative Segment

Based on technology, the market for stolen vehicle tracking software is segmented into ultrasonic, RFID, and other technologies. Among these technologies, the RFID segment is the most attractive in the global stolen vehicle tracking software market.

RFID tags are widely used for vehicle tracking and recovery systems because of their reliability, which can be seamlessly integrated with existing vehicle security systems. RFID tags attached to vehicles can be read by RFID readers located in various places, such as toll booths, border crossings, or parking garages. This enables real-time tracking and monitoring of the vehicle’s location and status; it may help authorities quickly recover stolen vehicles.

The Ultrasonic Segment is Expected to Grow Faster in the projected period

Followed by ultrasonic technology, which accounted for the fastest-growing type segment in the stolen vehicle tracking software market. Ultrasonic technology can also be employed for vehicle tracking and recovery, though it is less common than RFID in this specific market segment. Ultrasonic sensors are typically employed for other purposes like indoor positioning or monitoring of equipment and machinery.

Component Analysis

The UIP Segment Accounted for the Largest Revenue Share

Based on the components, the market is segmented into UIP, BBS, central locking system, ACDS, ADRS, and remote keyless entry system. Among these, the UIP segment dominates the stolen vehicle tracking software market.

UIP can be integrated with other technologies and components of a comprehensive vehicle security system, which may include stolen vehicle tracking as one of its features. For instance, UIP could be used for authentication when accessing the tracking system or it could encrypt data transmitted between it and other parts of the system.

The Central Locking System Segment is Expected to be the Fastest Growing Component Segment

On the other hand, the central locking system is the fastest growing due to it being a mechanical & electrical locking system that is used for locking and unlocking the doors of a vehicle at once, especially using a remote key. While central locking systems are not typically used as standalone technology they can integrate with other components for enhancing the overall security of the vehicle.

Vehicle Analysis

The Passenger Car Segment is Lucrative

Based on vehicles, the market is segmented into passenger cars, LCVs, HCVs, and electric vehicles. Among these, the passenger car segment dominates the stolen vehicle tracking software market.

Passenger cars are the vehicle segment that is most commonly used in stolen vehicle tracking systems, due to cars being the most commonly stolen type of vehicles which makes them a primary target for theft prevention and recovery systems.

The Electric Vehicle Segment is Expected to be the Fastest Growing Vehicle Type Segment

EVs are becoming increasingly popular, at the time EVs are dominating the market and their theft risk is also high that’s why EVs are also a primary target for theft that’s why this is the fastest-growing vehicle segment.

Sales Channel Analysis

The OEM Segment Dominate the Stolen Vehicle Tracking Software Market in 2022

Based on sales channels, the market is segmented into OEM and aftermarket. Among these, the OEM segment dominates the stolen vehicle tracking software market.

Many new vehicles are now being sold with inbuilt tracking systems as a standard feature or as an optional add-on, which makes it more difficult for aftermarket companies to compete. Additionally, OEMs have an extra advantage in terms of brand recognition, distribution channels, and reputation.

The Aftermarket Sales Channel Segment is Expected to be the Fastest Growing Segment in the forecasted period

There are still many consumers who prefer aftermarket tracking systems because they may offer additional features, flexibility, and affordability compared to OEMs. Aftermarket tracking systems can also be installed on old devices that do not come with built-in tracking systems.

Key Market Segments:

Based on Technology

• Ultrasonic
• RFID
• Other Technologies

Based on Component

• UIP
• BBS
• Central Locking Systems
• ACDS
• ADRS
• Remote Keyless Entry System

Based on Vehicle

• Passenger Car
• LCV
• HCV
• Electric Vehicle

Based on the Sales Channel

• OEM
• Aftermarket

Regional Analysis

North America Accounted for the Largest Revenue Share in the Stolen Vehicle Tracking Software Market in 2022.

North America is estimated to be the most lucrative market in the global stolen vehicle tracking software market, with the largest market share of 43.54% in 2022. North America, particularly The US, and Canada, has become a major market for stolen vehicle tracking software due to government regulations, high vehicle ownership rates, and modern technology.

Furthermore, this region is witnessing an increasing shift towards connected cars as well as the adoption of telematics and other value-added services.

Europe is expected as Fastest Growing Region in a Projected Period in the Stolen Vehicle Tracking Software Market.

Europe is expected as the fastest-growing region in the stolen vehicle tracking software market. European countries boast a large market for stolen vehicle tracking software due to high vehicle ownership rates and stringent government regulations. With the growing adoption of connected cars and other value-added services, this market is expected to experience tremendous growth over the coming years.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis:

The stolen vehicle tracking software market is highly competitive and controlled by a few key players. OnStar, Cartrack, and Telogis are all close behind LoJack as the leader, while Viper comes in third place.

These companies provide various tracking solutions for commercial and personal vehicles while continuously innovating to stay ahead of their competition.

Market Key Players:

Listed below are some of the most prominent stolen vehicle tracking software industry players.

• Robert Bosch GmbH
• Lear Corporation
• Valeo
• Continental AG
• DENSO Corporation
• TOKAI RIKA, CO, LTD.
• OMRON Corporation
• Mitsubishi Electric Corporation
• HELLA GmbH & Co. KGaA
• ALPS ALPINE CO., LTD.
• Other Key Players

Recent Developments:

• In 2021, Viper recently unveiled the launch of their Smart Key Pro system, which allows users to remotely lock, unlock, and track their vehicles in real-time. Additionally, this system includes stolen vehicle recovery capabilities.
• In December 2021, Volvo unveiled its Vodafone Automotive VTS S5 vehicle tracking accessory. This tracking system can pinpoint a car’s location to within 10 meters when equipped with a small card; when this card is present, the system automatically recognizes it and alerts partner Vodafone Automotive immediately if the car is driven without it.

Report Scope: