The global demand for Remote Vehicle Shutdown Market is presumed to reach the market size of nearly USD 731.03 MN by 2028 from USD 473.21 MN in 2021 with a CAGR of 9.21% under the study period 2022 - 2028.
Remote vehicle shutdown is a simple device built to prevent the theft of vehicles and the cargo present in them. An automated system allows the owner to remotely lock the automobile by using radio pulses. These systems also provide the owner information of their vehicle's location and prevent the engine from starting. Remote vehicle shutdown also enables the user to slow down or completely stop the movement of an operating vehicle. This device consists of a central circuit and a transmitter and receiver. In developed countries like the U.S., police departments use these systems to find stolen automobiles and hunt high speeding vehicles.
Market Dynamics
The market for remote vehicle shutdown is bound to grow soon since the transportation industry faces massive losses every year due to vehicle and cargo theft. The demand is further increasing by the rapid development of logistics and transportation for safe and timely deliverance of goods, making it even more critical to ensure the safety of cargo and vehicles. The government has undertaken many steps to ensure that automobiles built or imported are equipped with tracking and immobilisation systems. As a result, the remote vehicle shutdown market is expected to develop in the near future. However, these systems pose a privacy risk to the user, and the engine shutdown feature may cause damage to the engine. These factors dampen its growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of remote vehicle shutdown. The growth and trends of remote vehicle shutdown industry provide a holistic approach to this study.
Market Segmentation
This section of the remote vehicle shutdown market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By System
By Vehicle Type
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Remote Vehicle Shutdown market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Remote Vehicle Shutdown Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the remote vehicle shutdown market include PassTime GPS, OnStar Corporation, Cobra Car Tech Ltd, Sonic Electronix Inc., LoJack Corporation, TracknStop, The Tracker, Fleetsmart, Frotcom International and EMCO Software. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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