The car security systems market is valued at 8,956.7 million USD in 2021 and is projected to reach 12,704.31 million USD in 2027, with a CAGR of 6%. The market was affected by the COVID-19 pandemic but is expected to recover as awareness of the benefits of security systems in vehicles increases.
The increase in the number of accidents, deaths, and injuries during transportation has made automotive and transportation safety essential. Safety and security systems aim to reduce fatalities and severe injuries during transport characteristics such as video surveillance, fire detection & prevention, collision avoidance, access control, foreign intrusion detection, perimeter protection, encrypted signaling, pedestrian detection, traffic sign recognition, speed control, passenger scanning, and cargo assessment are remarkably in demand these days.
The automotive and transportation safety industry has become increasingly important due to the rise in accidents, deaths, and injuries during transportation. Safety and security systems, such as video surveillance, fire detection and prevention, collision avoidance, access control, and other technologies, aim to reduce fatalities and severe injuries during transport.
The market for these systems is driven by regulations and consumer interest in vehicle safety, as well as the demand for premium passenger cars. The connected car market, including vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) technology, is expected to play a significant role in accident prevention, driving comfort, and enhanced safety.
The Asia-Pacific region is predicted to have the highest share of the market due to the growth in the automotive sector. because of this region’s burgeoning growth in the automotive sector. The increasing capacity of vehicle production in Asia-Pacific and the high number of exports of automobiles are to remain major driving factors for the market during the forecast period.
Autoliv, Inc., Continental AG, DENSO Corporation, Robert Bosch GmbH, Valeo SA, NXP Semiconductors, Magna International Inc., Panasonic Corporation, Aisin Seiki Co. Ltd, Renesas Electronics Corporation, Texas Instruments, Intel Corporation, ZF Friedrichshafen AG, Mobileye B.V
Our Automotive and Transportation category segmentation encompasses:
Infotainment, Navigation, and Telematics
Automotive components
Electric and Hybrid Vehicles
Automotive Logistics
Automotive systems, and accessories
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