Stolen Vehicle Recovery Systems Market [2023-2031] Industry Size, Share, Trends, Opportunities, Growth Analysis

The global stolen vehicle recovery systems market size was US$ 12,298.8 million in 2021. The global stolen vehicle recovery systems market is forecast to grow to US $22,599.3 million by 2030 by registering a compound annual growth rate (CAGR) of 8.9% during the forecast period from 2022 to 2030.

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A stolen vehicle recovery device is basically an anti-theft device. It is used to locate a stolen or lost vehicle with the use of radio frequency technology. Special computers are used by the police to track the car by sending radio signals. Once sent, the signals efficiently activate the car's vehicle recovery system, enabling police to track down the vehicle.

COVID-19 Impact Analysis
In the wake of the COVID-19 pandemic, the stolen vehicle recovery systems market recorded a sharp drop in terms of revenue. Due to the pandemic, the demand for automobiles decreased steeply. Moreover, governments also imposed travel restrictions, which further reduced the chances of automobile theft. In addition, the pandemic affected the financial stability of people, which, in turn, decreased consumer confidence. As a result, it hampered the growth of the stolen vehicle recovery systems market.

Regional Analysis
The Asia-Pacific stolen vehicle recovery systems market is estimated to hold the largest share, owing to the rapidly growing automotive industry. The rising cases of automotive theft and the growing production facilities in the region are expected to drive the demand for stolen vehicle recovery systems during the study period.

Factors Influencing the Market:
The rapidly growing automotive sector is expected to drive the demand for stolen vehicle recovery systems during the forecast period. In addition, rising cases of theft and growing government spending in the sector are expected to benefit the stolen vehicle recovery systems market during the study period.
Apart from that, growing advancements in stolen vehicle recovery systems are forecast to bring untapped growth opportunities for the market during the study period. IoT devices and networks consume low power and are easy to install in the vehicle. These advantages will bolster the market growth. Apart from that, Continental AG unveiled its in-vehicle server in 2019. Thus, such strategic moves will propel the stolen vehicle recovery systems market forward.
Growing disposable income and rising demand for advanced safety features in vehicles will accelerate the growth of the stolen vehicle recovery systems market.

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Competitors in the Market
• HELLA GmbH & Co.
• KGaA, Robert Bosch GmbH,
• Valeo
• Continental AG,
• Denso Corporation,
• Mitsubishi Electric Corporation,
• OMRON Corporation,
• ALPS Alpine Co., Ltd.
• Tokairika, Co., Ltd.
• Lear Corporation,
• Spireon
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Stolen Vehicle Recovery Systems industry experienced notable growth in its workforce. Starting in January, employment within the Stolen Vehicle Recovery Systems sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Stolen Vehicle Recovery Systems output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector's production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Stolen Vehicle Recovery Systems output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Stolen Vehicle Recovery Systems market, remains both its largest producer and consumer. Remarkably, China's market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation's GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Stolen Vehicle Recovery Systems market.

Market Segmentation
The global stolen vehicle recovery systems market segmentation focuses on components, vehicles, technology, and regions.
By Component
• Ultrasonic Intruder Protection System (UIP)
• Backup Battery Siren (BBS)
• Central Locking System
• Automatic Collision Detection System
• Automatic Driver Recognition System (ADRS)
• Remote Keyless Entry System
• Others

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By Vehicle Type
• Passenger Vehicle
• Commercial Vehicles
By Technology
• Ultrasonic
• Radio Frequency Identification (RFI)
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Stolen Vehicle Recovery Systems Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Stolen Vehicle Recovery Systems Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Stolen Vehicle Recovery Systems Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Stolen Vehicle Recovery Systems Market Size (2023-2031)

Why is our study consequential?

Our study holds paramount importance for various reasons, a few of which include:

• Assisting businesses in gauging the viability of new or existing products or services.

• Facilitating business enterprises in the identification and cultivation of novel market segments.

• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.

• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.

• Analyzing market trends to aid businesses in devising adaptive strategies.

• Guiding businesses in the optimal placement of their products.

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