Remote Vehicle Shutdown Market Overview
Remote Vehicle Shutdown Market value is registered as USD 396.44 million and is expected to exhibit a significant CAGR of 8.04% with the market size of USD 781.83 million during the forecast period (2021-2028).
The Remote Vehicle Shutdown Market system has become an essential part of the automotive industry as theft cases are rising. This technology was developed for police, military, and other law enforcement agencies to control the accidents and over speeding vehicles. Currently, vehicles come installed with security and alarm systems; still, the theft cases are on the rise. Installation of these systems helps reduce the vehicle speeds or shutting down the engine from a faraway location as it is a combination of a central circuit, transmitter, and receiver.
The next-generation vehicles are connected to satellites or servers, helping to receive or transmit signals from distant locations. This technology is also used by law enforcement agencies to control or stop the escaping vehicles and find the stolen ones. Increasing transportation and long-distance transfer of goods pose a serious challenge when it comes to vehicle and cargo safety; this has increased the demands of remote vehicle shutdown systems. The companies invest in research development programs to unfold the new aspects, imposing an extra load on the market and helping the market gain accelerated speeds.
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Apart from the uses and features, the global Remote Vehicle Shutdown Market faces challenges from the accidents caused due to engine lockdown and rising privacy concerns, which has restrained the global market growth. This report provides a comprehensive outlook on competition, opportunities, drivers restraints, and other factors affecting the local and global remote vehicle shutdown market. The global market is anticipated to register approximately a 08 % annual growth during this period.
The key players of Global Remote Vehicle Shutdown Market are PassTime GPS (U.S), OnStar Corporation (U.S), Cobra Car Tech Ltd (U.K), Sonic Electronix,Inc (U.S), LoJack Corporation (U.S), TracknStop (Ireland), The Tracker (South Africa), Fleetsmart (U.K), Frotcom International (Portugal) and EMCO Software (Iceland).
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The global remote vehicle shutdown market is segmented into classes as follows:
The global remote vehicle shutdown market is categorized into manual and automatic based on system types.
The global remote vehicle shutdown market is divided among commercial and private vehicles based on vehicle categories.
The Remote Vehicle Shutdown Industry has gained global adoption due to a rise in demands for next-gen vehicle security systems, increasing the adoption of better technologies, and rapid expansion of the automotive industry. The Asia Pacific, North America, Europe, and the rest of the world are the major market studies for the global remote vehicle shutdown market. The North America region is leading the market due to the presence of key manufacturers, large production capacities, rapid research development programs, rise in theft cases, high disposable incomes, well-connected systems, and other factors. The European and Asia Pacific regions are next in this list in the mentioned order and will gain pace in the future.
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Table Of Content
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Researchs
2.3 Market Size Estimation
2.4 Forecast Model
3... Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Remote Vehicle Shutdown Market, By Systems
5 Global Remote Vehicle Shutdown Market, By Vehicle Type
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