Automotive theft has been a persistent issue in the automotive industry across the world. Stealing a vehicle has no longer remained a tough task owing to the increasing advancements in the electronic systems which are used to control the vehicle operation and the newer methods of stealing a vehicle that have been developed by thieves in recent years. Automotive OEMs (original equipment manufacturers) are focusing on developing anti-theft systems with a view to prevent vehicle thefts. Advanced and sophisticated biometric system is an example of the anti-theft systems that have been utilized to avoid vehicle thefts in recent years.
Increasing number of cases of vehicle theft have been witnessed in recent years, in spite of vehicles being equipped with certain inbuilt security and safety features. Anti-theft systems in a car may not work properly if the battery of the car is dead, or if the immobilizer chip in the key of the car is damaged, or if the door locks are damaged. This is prompting the development of new and even better anti-theft systems for vehicles, which can counterfeit the increasing efforts of car thieves to steal cars.
This is expected to drive the automotive anti-theft system market during the forecast period. Increasing developments involving the usage of advanced technologies such as global positioning system (GPS) and global system for mobile communication (GSM) in developing more efficient anti-theft systems for vehicles is anticipated to further boost the automotive anti-theft system market in the near future.
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Semi-autonomous vehicles that are equipped with ADAS (advanced driver assistance systems) are already running on roads across the world. Moreover, increasing efforts are being taken for the development and introduction of autonomous vehicles on the road. Autonomous vehicles are expected to be running on roads in the next few years. Semi-autonomous and autonomous vehicles pose a threat of being hacked since both semi-autonomous as well as autonomous vehicles depend on highly advanced electronic systems and software for their operation.
These advanced software systems are susceptible to hacking. Hacking can completely assign the control of the vehicle to the hacker, which in turn is likely to place the life of the driver at risk. Furthermore, vehicle thieves are devising newer and flawless methods to steal vehicles without leaving behind a single clue to reveal the identity of the thief. Also the incorporation of anti-theft system in vehicles increases the overall price of the vehicles, which may not always be affordable to all consumers. This is expected to hamper the growth of the automotive anti-theft system market during the forecast period.
Key players operating in the global automotive anti-theft systems market include Robert Bosch GmbH, Continental AG, Tokai Rika, Ltd., Lear Corporation, Johnson Electric, Delphi Automotive LLP, Mitsubishi Electric Corporation, and VOXX International Corp.