Market Overview
The significant rise in the theft of vehicles and cargos has triggered for the need of automated systems that help in securing the vehicle or the cargo bikes. Even after being equipped with security systems such as complex electronics and alarm systems; the transportation industry is still witnessing huge losses due to theft of vehicle and cargo and thus is vulnerable. Remote immobilization proves to be a viable solution to prevent vehicle theft and also help in the reclaiming valuable goods and cargos from stole vehicles. Remote vehicle shutdown device thus can help prevent possible hijacking and theft by intruders. Remote shutdown devices have system, connecting the car with a possible manual or automated operator through satellite and wireless connections.
The device mainly is connected to the car through the central circuit; through transmitter and receiver the device receives signal either to reduce the speed of the vehicle or to shutoff the engine entirely. The usage of such devices can be found especially in the U.S where subprime auto loans are given by lenders. Lenders hence use this technology to disable ignition of a car when borrower falls behind on payments. Moreover police also uses remote vehicle shutdown technology to remotely halt high speed hunts and to find stolen cars.
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With the development of multibillion dollar logistics and transportation industry, the concern of safe and timely deliverance of goods and cargos is increasing. This has propelled the industry to adopt remote vehicle lockdown device for their safety and thus has increased the demand for remote vehicle lockdown devices. The remote vehicle lockdown devices currently being integrated with a comprehensive security devices which provide complete vehicle security such as GPS tracking and anti-theft security alarm. Auto manufacturers are investing heavily in the development of advanced technologies to keep vehicles safe.
Multinational Corporation such as General Motors and Scania AB are actively involved in the development of such technology. However the concern about privacy and instances of vehicle and personnel damage due to engine lockdown is raising issues over the usage of remote vehicle lockdown device. North America is one of the largest consumer of remote vehicle shutdown followed by Europe, South America, Asia Pacific and Middle East and Africa. North America market will continue to lead in terms of volume demand owing to increasing concerns of the safety of vehicles over the forecast years.
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The demand for remote vehicle lockdown devices in Europe is rapidly growing owing to their high applicability in the automotive industry, and this trend is likely to continue during the forecasted years. Even though remote vehicle shutdown devices entered the Asia Pacific market their reception is limited in the region/country of Australia and New Zealand. The demand of remote lockdown device is increasing slowly in the markets of China and India and is anticipated to contribute significantly during the forecasted years. In the region of Middle East and Africa the demand for remote vehicle shutdown devices is high such as Brazil, where in the government has taken special to equip manufactured or imported vehicles with tracking and immobilization devices.
The market of remote vehicle shutdown devices is highly fragmented worldwide and with multiple player operating within each region. A few prominent player in the remote vehicle lockdown devices include PassTime, Onstar Corporation, Cobra Car Tech Ltd., Sonic Electronix,Inc. and LoJack Stolen Vehicle Recovery System. The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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