Stolen Vehicle Recovery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Stolen Vehicle Recovery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Stolen Vehicle Recovery Market

The Stolen Vehicle Recovery market size was valued at USD 8.58 billion in 2023, and the market is now projected to grow from USD 8.91 billion in 2024 to USD 12.75 billion by 2032, exhibiting a CAGR of 5.3% during the forecast period of 2024-2032.

In arrange to check the spread of the infectious COVID-19 flare-up the governments of distinctive nations put forward the strict controls and displayed the foot confinements and controls for the lockdown measures. This comes around inside the temporal shutdown of creating goals, companies, and endeavors, making an include up to stoppage in progression, era, and spread works out over distinctive markets. This made changes in consumers' contributing control, particularly affecting vehicle bargains. Besides, the lower deals of vehicles brought about a lower appropriation rate of stolen vehicle recovery market growth.

The major OEMs within the automotive industry are exceedingly centered on presenting different anti-theft innovations in their vehicle models to anticipate in general burglary, defend the brand picture, and eventually affect vehicle deals. In this way, auto companies such as Kia, Passage, Verizon, and other truck armada administration companies are actively introducing immobilization frameworks within the vehicles to halt the burglary completely. These gadgets are attached inside the vehicle and can be remotely actuated.

Rising Request for Anti-Theft and Stolen Vehicle Recuperation Framework to Impel the Market Development as the driving players within the auto fabricating businesses are exceedingly centered on improving vehicle framework engineering to make more strong, sound, and secure vehicles for drivers. The expanding integration of hardware and remote innovation in vehicles has driven to simple vehicle hacks and a more prominent sum of vehicle burglaries. In this way, automakers are progressively centered on fortifying vehicle security.

Comprehensive Analysis of Stolen Vehicle Recovery Market

The passenger cars and commercial vehicles are the two vehicles type segment in the stolen vehicle recovery market. The structure of the stolen vehicle recovery market on the basis of technology is being categorized into RFID Chips, GPS Tracking and ultrasonic. Of all the technology, the GPS tracking held the most prominent position. The hardware and software are bifurcated on the analysis of system segmentation and the hardware section is governed to be the largest. The solution analysis and segmentation of the stolen vehicle recovery market structure is divided into central lock systems, ultrasonic intrusion protection systems, immobilization and battery backed alarm. The highest market share in the solution segment is acquired by the central lock systems.

Europe held a huge stolen vehicle recovery market share and is estimated to stand out at USD 3.27 billion in the forecasted period. The most elevated market share of the region contributed to higher entrance of these frameworks in vehicles and increased customer mindfulness of accessible frameworks, contributing to the generally development in this locale for advertise development.

Major companies such as BMW (Germany), Mercedes-Benz (Germany), Aguza (Japan), Vodadone Limited (U.K.), Lojack Corporation (U.S.), Kia Motors Corporation (South Korea), Robert Bosch (Germany), Verizon Communications Inc. (U.S.), Ford Motor Company (Germany), TRACKMATIC (U.K.) are working within the showcase are rolling out unused inventive items and arrangements to draw in a more extensive client base and give high client fulfillment. They are deliberately collaborating with major auto OEMs to present progressed situating and discovery frameworks, expanding mindfulness of the administrations they offer to vehicle buyers. The companies are also expanding their arrange within the commercial vehicle segment with expanding request for telematics administrations and rising cases of cargo stealing.

The company The Stolen Vehicle Insights Unit of the U.K. in the month of September 2023, effectively recuperated high-value vehicles. The two holders containing stolen vehicles were able to be catching utilizing the stolen vehicle insights unit. The group was able to recoup 60 holders of stolen cars and stolen vehicle parts.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 5.3% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Vehicle Type

Passenger Car

Commercial Vehicle

By Technology

GPS Tracking

Ultrasonic

RFID Chips

Others

By System

Hardware

Software

By Solution

Ultrasonic Intrusion Protection

Battery Backed Alarm

Immobilization

Central Lock System

By Region

North America (By Vehicle Type, Technology, System, Solution, and Country)

U.S. (By Vehicle Type)

Canada (By Vehicle Type)

Mexico (By Vehicle Type)

Europe (By Vehicle Type, Technology, System, Solution, and Country)

U.K. (By Vehicle Type)

Germany (By Vehicle Type)

France (By Vehicle Type)

Rest of Europe (By Vehicle Type)

Asia Pacific (By Vehicle Type, Technology, System, Solution, and Country)

China (By Vehicle Type)

Japan (By Vehicle Type)

India (By Vehicle Type)

South Korea (By Vehicle Type)

Rest of APAC (By Vehicle Type)

Rest of the World (By Vehicle Type, Technology, System, and Solution)

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