The global vehicle security systems market is estimated to grow at a CAGR of 6.9% during the forecast period. The growing trend towards autonomous vehicles is creating scope for market growth. With the rapid urbanization and modern logistics sector, an emerging adoption of vehicles has been witnessed over the years. The leading automobile giants are coming up with newer self-driving features in their latest models. The respective technological developments are not confined to just communication, information technology, and data analysis; the realm of self-driving cars is also making progress at a brisk speed nowadays.
With the incorporation of AI in automotive, self-driving or autonomous, technology has advanced seemingly well. For instance, VisLab Intercontinental Autonomous Challenge, a 13,000 km trip for nearly three months that took place from Italy to China, is regarded as one of the major competitions which led to enhancement in the testing of self-driven vehicles which consequently assisted the automotive AI industry. The AI-based specialized cars do not need a driver or occupant, owing to which, it is more considerate for the individuals who are unable to drive.
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Owing to this, the majority of the car manufacturing companies are actively adopting AI in their autonomous driving efforts to keep up with the on-going trends. GPS (global positioning system), sensor systems, computer power, and digital mapping are some of the key areas where automotive manufacturers are focusing on technology advancement. However, the pace at which the companies are deploying AI in their cars is stagnant. However, it is expected that more and more automotive manufacturers will enter the market in the near future, which in turn, is expected to contribute to the growth of the global vehicle security systems market.
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The major companies working towards self-driving vehicles include Google LLC, Tesla, Inc., General Motors, Bosch, Continental AG, among others. The trend towards self-driving vehicles has increased the possibilities of cyber threats in the automotive industry. Therefore, automakers are integrating a new class of algorithmic techniques to increase the security of self-driving cars. Machine learning can play a major role in cybersecurity, which uses algorithms that can support to detect network anomalies, such as behavior analysis, Intrusion Detection Systems (IDS), and malware protection. It can play a foundational role in protecting cars and their drivers from cyber-attacks. Therefore, the increasing focus on R&D for autonomous vehicles will likely to drive the global vehicle security systems market.
Global Vehicle Security Systems Market Segmentation
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Product Type
- Central Locking System
- Keyless Entry
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
- Alps Electric Co., Ltd.
- ATT Systems Group
- Continental AG
- DEI Holdings, Inc.
- Delphi Automotive PLC
- Denso Corp.
- Ford Motor Co.
- GPS Security Group
- HELLA GmbH & Co. KGaA
- Lear Corp.
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