The global Remote Vehicle Shutdown Market is forecasted to be worth USD 679.7 Million by 2027, according to a current analysis by Emergen Research. The rising cases of robbery in commercial vehicles entail the need for advanced technologies to protect the vehicle. Due to the robberies, the logistics industry frequently suffers massive losses and increased demand for advanced technology to prevent the robberies, which is expected to propel the market growth over the forecast period. Besides, the rapid adoption of IoT and Artificial intelligence in the vehicle to provide improved reliability and security is anticipated to further propel the market growth over the forecast timeframe.
Market Size – USD 385.0 Million in 2019, Market Growth - CAGR of 7.9%, Market Trends – The rise in the implementation of IoT and Artificial Intelligence in vehicles.
The rising cases of robbery in commercial vehicles entail the need for advanced technologies to protect the vehicle. Due to the robberies, the logistics industry frequently suffers massive losses and increased demand for advanced technology to prevent the robberies, which is expected to propel the market growth over the forecast period. Besides, the rapid adoption of IoT and Artificial intelligence in the vehicle to provide improved reliability and security is anticipated to further propel the market growth over the forecast timeframe.
However, it is anticipated that privacy issues and the risk of automotive damage due to the engines' lockdown will restrain the market growth over the forecast timeframe.
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Key Highlights From The Report
- In January 2019, in partnership with LoJack, Pioneer Electronics Inc. introduced the rDrive, a connected service solution. By allowing improved accessibility, surveillance, location-based services, and in-vehicle Wi-Fi hotspots, rDrive enhances the experience of vehicle ownership and driving. This will enhance LoJack position in the U.S.
- Due to the growing integration of IoT, artificial intelligence, and other automation processes in the vehicle, the automatic segment is anticipated to dominate the market with a CAGR of 8.0% over the forecasted period.
- Over the forecast timeframe, the petrol segment is expected to dominate the market as petrol is cheaper than diesel, and cars seem to be slightly convenient to purchase and maintain.
- Due to the increasing cases of car thievery globally, the passenger car segment is expected to hold the largest market over the forecast period. Due to the increasing robbery cases in logistical vehicles, the commercial vehicle segment is estimated to rise substantially in the forecast timeframe.
- Due to the rising concern for the safety of cars, North America is expected to hold the largest market over the forecast period. The Asia Pacific is expected to witness the fastest market growth as auto theft cases have increased rapidly in this region over the past three years.
Top Key Vendor :
Key participants include Sonic Electronix, Inc., Fleetsmart, Cobra Car Tech. Ltd., OnStar Corporation, Frotcom International, Scania AB, PassTime, EMCO Software, LoJack Corporation, and Tracker Connect (Pty) Ltd., among others.
The research study sheds light on the key growth opportunities and market trends along with other vital market dynamics, including the drivers and restraints on the industry growth. With this report, the prospective buyers can be sure to become capable of adapting to the changes in the Remote Vehicle Shutdown industry.
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The study has been conducted on the basis of inputs from the industry leaders. Thus, a conscious effort to dive deep and unearth hard to find information pertaining to the growing market landscape and growth prospects over the next few years is clearly visible in the study. The market intelligence report further comprises of discussions about the major vendors operating in the Remote Vehicle Shutdown space
Segmentation:
- Type Outlook (Revenue, USD Million; 2017-2027)
- Automatic
- Manual
- Propulsion Outlook (Revenue, USD Million; 2017-2027)
- Electric
- Diesel
- Petrol
- Vehicle Outlook (Revenue, USD Million; 2017-2027)
- Commercial
- Passenger
Global Remote Vehicle Shutdown Market Geographical Landscape - Synopsis:
The report closely studies the growth trajectory of the global Remote Vehicle Shutdown Market . It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The study elaborates on the crucial information pertaining to the regional Remote Vehicle Shutdown share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
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