Remote Vehicle Shutdown Market Register a 8% CAGR by Top Player Analysis, Industry Size, Current Trends, Regions, Growth Aspects and Global Forecast 2030
Research Reports
Oct 26, 2022
Remote Vehicle Shutdown Market Report and Growth Analysis 2022 by System (Manual and Automatic), By Vehicle Type (Passenger and Commercial) and By Region – Global Forecast to 2030
A device connected to the car through the central circuit is known as a remote vehicle shutdown. By taking the help of the transmitter and receiver, the device is used to get a signal either to decrease the vehicle’s speed or to shut off the engine entirely. The sudden rise in the theft of vehicles and cargo has activated the need for automated systems that help secure the vehicle or the cargo. After being prepared with a security system, the transportation industry faces huge losses due to the theft of vehicles and cargo. This safety assurance leads to the growth of the remote vehicle shutdown market in upcoming years.
Key Players
- 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)
- EMCO Software (Iceland) and Others.
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In these awful days, remote shutdown devices are very useful to prevent hijacking and thefts by thieves. This device has a system with automated operators through satellites and wireless connections to connect the car or possible manual. In the U.S, subprime auto loans are provided by the investors where the remote vehicle shutdown market’s need is found. The investor uses this technology to disable the ignition of their cars if the defaulter fails to repay. The police department also uses this advanced technology to greatly stop the high-speed hunts and find the stolen or missing cars.
In the pandemic COVID-19, almost every market was impacted; but from them but the sectors it impacted the most are businesses, transportation, education, and more all over the world. To stop the virus from escalating across the country. The governments implemented various strict rules like lockdowns to maintain social distance in public places like restaurants, schools, colleges and theatres. Some of the crowded public places were shut down. Due to these shutdowns and lockdowns, production industries stopped production due to the lack of labor, supply chain disturbances, and lack of raw materials.
The remote vehicle shutdown market was also affected negatively in 2020. Due to the advantage of this technology in the department of police, it has great market demand. The police use this system to chase the thieves or spot the missing vehicles by GPS tracking or alarm system.
Industrial news
In 2018, one of the important key players, LoJack Corporation, collaborated with Salinas Valley Ford Lincoln. Owing to this agreement, LoJack needs to deliver next-generation telematics solutions and expand its footprint in North America
Report Scope:
|
Report Metrics |
Details |
|
Market Size |
Significant Value in USD |
|
CAGR |
8% CAGR (2022-2030) |
|
Base Year |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Data |
2019 & 2020 |
|
Forecast Units |
Value (USD Million) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Key Market Opportunities |
Increasing concerns of the safety of vehicles |
|
Key Market Drivers |
The inclination of people towards |
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Remote Vehicle Shutdown Market segmentation
By System:
Manual
Automatic
By Vehicle Type:
Passenger Vehicle
Light Commercial Vehicle (LCV)
High Commercial Vehicle (HCV)
By End-User:
Personal Use
Commercial Use
Governmental use
Others
By Propulsion:
Electric
Petrol
Diesel
CNG
Remote Vehicle Shutdown Market Regional analysis
North America dominates the Remote Vehicle shutdown market, followed by South America. The key factor operating the growth of this region’s market is the growing concerns about the safety of vehicles. The North American market will continue to lead in demand volume due to growing concerns regarding vehicle safety. The Asia Pacific is estimated to experience profitable growth in the remote vehicle shutdown market in the predicted
period. This technology and demand in China and India are markets is predicted to rise significantly.
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