USD 8.5 billion
Global Stolen Vehicle Recovery Market Size, Share, Growth Analysis, By Technology(Ultrasonic, Radio Frequency Identification), By Vehicle Type(Passenger Cars, and Commercial Vehicles), By Component(Ultrasonic Intruder Protection System (UIP), Backup Battery Siren (BBS)), By Sales Channel(OEMs, and Aftermarket) - Industry Forecast 2024-2031
Report ID:
SQMIG25A2278 |
Region:
Global |
Published Date: April, 2024
Pages:
221
|
Tables:
120 |
Figures:
75
Global Stolen Vehicle Recovery Market Insights
Global stolen vehicle recovery market size was valued at USD 8.5 billion in 2022 and is poised to grow from USD 8.95 billion in 2023 to USD 13.53 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
Stolen vehicle recovery refers to the retrieval of stolen vehicles from criminals and thieves. Stolen vehicle recovery systems have been proven to be effective with highly attractive recovery rates as they utilize location data and transmit it to the owner using sensors, which helps them track down their vehicle precisely. Growing use of advanced technologies in vehicles and rising willingness of consumers to spend more to get features such as vehicle recovery systems are slated to bolster the demand for stolen vehicle recovery across the forecast period. Increasing incidence of vehicle theft worldwide is a key factor driving the sales of stolen vehicle recovery systems. Increasing sophistication or organized crime rings is also boosting the demand for highly capable and advanced stolen vehicle recovery devices around the world.
Surging sales of vehicles in the Asia Pacific region have created a highly lucrative environment for stolen vehicle recovery providers and this is what allows this region to establish itself as the fastest expanding one in the world. However, an evolving threat landscape and privacy concerns are projected to be key constraints limiting stolen vehicle recovery market growth potential across the forecast period and beyond.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger Cars
Fastest Growth
Commercial Vehicles
Growth Rate
5.3% CAGR
Global Stolen Vehicle Recovery Market ($ Bn)
Country Share for Europe Region (%)
Global Stolen Vehicle Recovery Market By Vehicle Type ($ Bn)
Global Stolen Vehicle Recovery Market By Vehicle Type (%)
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Global Stolen Vehicle Recovery Market Segmental Analysis
The global stolen vehicle recovery market is segmented based on technology, component, sales channel, vehicle type, and region. In terms of technology, the market is segmented into GPS tracking, ultrasonic, radio frequency identification, and others. Based on vehicle type, the market is bifurcated into commercial vehicles and passenger cars. Onn the basis of component, the market is segmented into ultrasonic intruder protection system (UIP), backup battery siren (BBS), central locking system, automatic collision detection system, automatic driver recognition system (ADRS), remote keyless entry system, and others in terms of sales channel, the market is divided into OEMs and aftermarket. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Technology
GPS tracking technology holds sway over the global stolen vehicle recovery market as it is being widely used to recover all kinds of vehicles. The high accuracy of GPS tracking systems is what gives it an edge over other technologies. Advancements in GPS technology and easy sharing and integration of GPS data with law enforcement results in a better recovery rate for stolen vehicles.
Advancements in the automotive industry are projected to bolster the demand for stolen vehicle recovery systems working on ultrasonic technology at a rapid pace across the forecast period. Use of ultrasonic intrusion alert systems in cabins is a key factor that is slated to bolster stolen vehicle recovery market development through this segment going forward.
Analysis by Vehicle Type
Passenger cars account for a prominent share of the global stolen vehicle recovery demand outlook owing to a substantial hike in the number of passenger car theft cases recorded around the world. Surging sales of passenger cars in developing economies is also a key factor that allows this segment to hold a dominant stance. Increasing willingness of consumers to spend more on improving the safety of their luxury passenger vehicles will also promote market growth via this segment.
Meanwhile, the use of stolen vehicle recovery systems in commercial vehicles is slated to increase at a rapid pace owing to increasing emphasis of businesses to improve their overall safety. Increasing number of logistics and transportation companies integrating stolen vehicle recovery systems with their fleets is also slated to contribute to the rapid demand growth of this segment in the long run.
Global Stolen Vehicle Recovery Market By Vehicle Type, 2022 (%)
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Global Stolen Vehicle Recovery Market Regional Insights
Europe is estimated to dominate the global stolen vehicle recovery demand outlook across the forecast period while losing some market share to Asia Pacific and North America by the end of 2031. Increasing consumer awareness regarding benefits of stolen vehicle recovery deployment and growing number of automotive manufacturers integrating these systems in their vehicles are also slated to favor market growth in the future. Germany is predicted to account for the highest share of stolen vehicle recovery system sales in Europe over the coming years.
On the other hand, the demand for stolen vehicle recovery in the Asia Pacific region is slated to increase at a rapid pace in the future. Growing sales of vehicles and increasing number of vehicle theft cases are slated to be key factors driving the stolen vehicle recovery market outlook over the coming years. Efforts of governments and law enforcement agencies to create awareness regarding vehicle theft is also slated to promote stolen vehicle recovery adoption in the Asia Pacific region. China and India are slated to be the most lucrative markets for stolen vehicle recovery providers through 2031.
Global Stolen Vehicle Recovery Market By Region, 2024-2031
- Largest
- Fastest
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Global Stolen Vehicle Recovery Market Dynamics
Drivers
Efforts to Mitigate Insurance Risks
- Vehicle insurance companies are focusing on mitigating their claim risks by adding clauses and mandates that vehicles should be equipped stolen vehicle recovery systems to improve recovery rates. These efforts of insurance companies are pushing individuals to opt for stolen vehicle recovery devices and thereby drive market growth as well.
Surge in Vehicle Theft Rates
- Incidence of vehicle theft around the world has increased drastically in recent years and this has promoted the demand for advanced vehicle tracking thereby boosting stolen vehicle recovery demand outlook as well.
Restraints
Evolving Threat Landscape
Thieves have always come up with innovative solutions to steal vehicles and bypass all kinds of security and safety measures deployed. Signal jamming and device tampering are some key tactics that are used by thieves, which could render stolen vehicle recovery systems useless and thereby slow down market growth as well.
Data Privacy Concerns
- Stolen vehicle recovery solutions gather location and other crucial data related to the driver. Concerns regarding the security of this data are predicted to slow down the adoption of stolen vehicle recovery in the long run.
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Global Stolen Vehicle Recovery Market Competitive Landscape
Stolen vehicle recovery providers should focus on using advanced tracking technologies in their products to maximize their recovery success rate, which in turn, is also estimated to bolster sales potential. Companies can also collaborate with automotive manufacturers, law enforcement agencies, and even thieves to improve their product and provide the best-in-class security. Integration of advanced technologies is a key trend that new as well as established stolen vehicle recovery companies should focus on.
Top Player’s Company Profiles
- Denso Corporation (Japan)
- Robert Bosch GmbH (Germany)
- Ford Motor Company
- Tokairika, Co, Ltd (Japan)
- HELLA GmbH & Co. KGaA (Germany)
- BMW
- Valeo (France)
- Ituran
- Vodafone Limited
- Spireon Inc.
- Mitsubishi Electric Corporation (Japan)
- Continental AG (Germany)
- TRACKMATIC UK
- Cartrack
- Lear Corporation (US)
- Digital Matter
- OMRON Corporation (Japan)
- Altron
Recent Developments
- In February 2024, Nissan, a renowned Japanese car manufacturer, announced the launch of a stolen vehicle recovery service for Nissan vehicle owners in the United Kingdom. The company collaborated with Vodafone Automotive to develop this service.
- In January 2024, the Denver Police Department announced the launch of a new auto theft program to tackle the issue of increased vehicle theft rates. The police also encouraged drivers to sign up for this tracking program.
Global Stolen Vehicle Recovery Key Market Trends
- Use of Predictive Intelligence: Stolen vehicle recovery systems can be integrated with predictive intelligence technology to accurately trace the vehicle and improve the chances of a successful recovery. These systems also collect data from the vehicle, which can be further utilized to feed in predictive intelligence operations and give a better analysis of the situation.
Global Stolen Vehicle Recovery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, rising cases of vehicle theft and increasing efforts to combat the same are projected to promote the adoption of stolen vehicle recovery systems in the long run. Imposition of new vehicle insurance mandates and growing willingness of people to spend more on vehicle protection systems are also slated to benefit stolen vehicle recovery market development going forward. However, the evolving threat landscape and data privacy and security concerns are predicted to slow down stolen vehicle recovery market growth across the forecast period. Rising sales of vehicles in the Asia Pacific region make it the fastest-expanding market for stolen vehicle recovery companies in the world. Stolen vehicle recovery market players can focus on utilizing data analytics and predictive intelligence technologies to improve vehicle recovery rates.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.5 billion |
| Market size value in 2031 | USD 13.53 billion |
| Growth Rate | 5.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Stolen Vehicle Recovery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Stolen Vehicle Recovery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Stolen Vehicle Recovery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Stolen Vehicle Recovery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Stolen Vehicle Recovery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Stolen Vehicle Recovery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Stolen Vehicle Recovery Market Report Snapshots
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