Car Security System Market Size

Car Security System Market size was over USD 8.44 Billion in 2023 and is expected to exceed USD 16.93 Billion by the end of 2036, growing at over 5.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of car security system is evaluated at USD 8.86 Billion. The growth of the market is primarily attributed to the increasing motor vehicle production around the globe. Additionally, the growing use of electric vehicles should soon raise demand for autonomous car security systems. According to the International Organization of Motor Vehicle Manufacturers (OICA), motor vehicle production rose globally from 583,74,162 units in 2000 to 917,86,861 vehicles in the year 2019.

Car security systems are essential tools for preventing theft and keeping the vehicle protected from unauthorized individuals. In addition, car security systems have significantly reduced car thefts worldwide due to their security features such as sound alarms, shock sensors, central locking, and immobilizers. Several advanced car security systems are available on the car security system market today that are making vehicles safer than ever. These include the Avital 5103 and Eclipse 360-degree vehicle surveillance security systems. The installation of a car security system can be accomplished in almost all types of vehicles, including low-passenger cars, heavy vehicles, and light vehicles. Moreover, increasing awareness about the benefits of security systems, technologically advanced automotive electronics, and automatic operating functions have boosted the popularity of security system installations in cars, and the rapid growth in the urban population is anticipated to drive the car security system market growth during the forecast period. According to World Bank data, 57% of the global population is designated as an urban population which is equal to nearly 4.5 million individuals. This number is expected to double shortly after 7 out of 10 people live in urban settlements.