USD 3.7 billion
Remote Vehicle Shutdown Market Size, Share, Growth Analysis, By Type(Automatic, Manual), By Vehicle Type(Passenger, Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2279 |
Region:
Global |
Published Date: April, 2024
Pages:
225
|Tables:
61
|Figures:
70
Remote Vehicle Shutdown Market Insights
Global Remote Vehicle Shutdown Market size was valued at USD 3.7 billion in 2022 and is poised to grow from USD 4.07 billion in 2023 to USD 7.42 billion by 2031, growing at a CAGR of 7.8% in the forecast period (2024-2031).
Remote vehicle shutdown can be triggered using a device that is connected to the car through a circuit. The device helps safeguard the vehicle in case of hijack or robbery, which could aid in recovery or prevent further damage that can be caused. Growing emphasis on increasing vehicle safety in the commercial space to reduce losses from theft and damage is also slated to promote the demand for remote vehicle shutdown over the coming years. ears. However, data security and privacy concerns are projected to hamper remote vehicle shutdown adoption in multiple parts of the world.
Increasing number of vehicle sales around the world are also estimated to bolster the adoption of remote vehicle shutdown systems in the long run. Developed as well as developing economies are both estimated to provide highly lucrative new opportunities for remote vehicle shutdown providers going forward. Automatic remote vehicle shutdown systems are projected to be highly coveted owing to their accurate and easy operation as compared to manual remote vehicle shutdown systems. North America is slated to maintain its stance as a dominant regional market in the world across the forecast period.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Automatic
Fastest Growth
Manual
Growth Rate
7.8% CAGR
Global Automotive Intercooler Market ($ Bn)
Country Share for North America Region (%)
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Remote Vehicle Shutdown Market Segmental Analysis
The global remote vehicle shutdown market is segmented based on type, vehicle type, and region. In terms of type, the market is segmented into automatic and manual. Based on vehicle, the market is bifurcated into commercial and passenger. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Type
The automatic segment is projected to account for a massive share of the global remote vehicle shutdown market. The use of automatic remote vehicle shutdown eliminates the element of human error and gives a faster response time as compared to a manual system. Moreover, growing adoption of automated and advanced solutions in the automotive industry is also estimated to favor the demand for automatic remote vehicle shutdown systems going forward.
However, the demand for manual remote vehicle shutdown systems is slated to rise at a good pace in developing economies where people have limited spending potential. Manual remote vehicle shutdown systems are often cheaper and have less features but are still capable of providing basic protection from theft and robberies, which is why they are highly popular in low-income economies.
Analysis by Vehicle Type
Currently, passenger vehicles account for a good market share but are projected to lose a significant chunk of share to commercial vehicles across the forecast period. Increasing awareness regarding vehicle protection among people and the need for vehicle shutdown systems to be installed as per insurance providers contribute to the growth of remote vehicle shutdown market via this segment.
Meanwhile, commercial vehicles are projected to influentially boost the sales of remote vehicle shutdown systems over the coming years. Rapidly expanding logistics industry and growing emphasis on increasing commercial vehicle security to protect the goods and products they transport are also slated to bolster the demand for remote vehicle shutdown systems in commercial vehicles going forward.
Global Automotive Intercooler Market By Type
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Remote Vehicle Shutdown Market Regional Insights
North America holds a major chunk of the global remote vehicle shutdown demand outlook and is forecasted to maintain a similar stance through 2031. Increasing concerns regarding vehicle safety in countries such as the United States and Canada are primarily boosting remote vehicle shutdown adoption in this region. Rising number of subprime auto loans in the aforementioned countries has also resulted in growing use of remote vehicle shutdown systems as lenders can shutdown the vehicle if vehicle owners miss out on payments or stop paying at all.
The rising number of vehicle theft cases in the Asia Pacific region allow it to become the fastest-expanding market for remote vehicle shutdown companies in the world. Robust hike in vehicle sales owing to rising disposable income has also increased the number of vehicle theft cases in this region. This is why not only commercial but personal owners of vehicles are deploying remote vehicle shutdown systems to combat the theft issues. China and India are projected to be highly rewarding markets for remote vehicle shutdown providers in the long run.
Global Automotive Intercooler Market By Region
- Largest
- Fastest
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Remote Vehicle Shutdown Market Dynamics
Drivers
- Emphasis on Asset Protection
Commercial as well as individual vehicle owners are taking initiative to protect their vehicles from all kinds of damages and risks either by opting for comprehensive insurance policies or remote vehicle shutdown systems. This increase in emphasis on vehicle protection is slated to drive remote vehicle shutdown market growth.
- Requisite in Fleet Management
Most of the fleet management systems that are deployed by commercial organizations feature remote vehicle shutdown to safeguard their assets and prevent further damage to the organization. Growing popularity of this feature in fleet management will create new growth opportunities in the future.
Restraints
- Data Security Risks
Remote vehicle shutdown systems can collect and store crucial data that is private to the user of the vehicle. Since, these systems are remote they can be hacked into and the data could fall into wrong hands. Increasing concerns regarding the data protection norms of these devices could slow down market development.
- Liability and Safety Concerns
If hijacked or hacked, remote vehicle shutdown system in the hands of a fringe element could be a threat to the people and emerge as a major liability for the vehicle owner. Therefore, these concerns regarding safety of these systems are slowing down remote vehicle shutdown demand.
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Remote Vehicle Shutdown Market Competitive Landscape
Remote vehicle shutdown providers should emphasize on improving their data security and assure users that their data will be safe to maximize sales potential. Remote vehicle shutdown providers can also leverage the use of cloud technologies to improve the efficacy of their offerings. Mergers, collaborations, and acquisitions are important strategies for companies looking to scale their business around the world. Collaboration with vehicle manufacturers and integration of the remote vehicle shutdown system at an OEM level could also create new opportunities for market players.
Top Player’s Company Profiles
- OnStar Corporation (U.S)
- Shenzhen Auto Leaders Technology Co. Ltd.
- PassTime GPS (U.S)
- The Tracker (South Africa)
- Spireon
- Cobra Car Tech Ltd (U.K)
- EMCO Software
- LoJack
- TracknStop (Ireland)
- Fleetsmart (U.K)
- General Motors
- Frotcom International (Portugal)
- Scania
- Pioneer Electronics
- Sonic Electronix, Inc (U.S)
Recent Developments
- In March 2023, Ford Motors, a leading name in the automotive business revealed that it had filed a patent for a remote vehicle shutdown system that can be used if a user misses out on auto loan payments. The technology can even lock out the user out of their cars.
- In November 2023, Subaru and Kia quashed their remote access features in Massachusetts, United States over a law that required them to share data with all repair shops not just authorized dealers. This type of laws could hamper the demand for remote vehicle shutdown in the future.
- In November 2023, Tesla, a renowned electric vehicle manufacturer based in the United States, announced that it has launched a new option that allows vehicle owners to disable remote commands.
Remote Vehicle Shutdown Key Market Trends
- Integration with Telematics and Fleet Management Systems: Remote vehicle shutdown systems can be linked or integrated with different automotive safety systems to work in harmony and provide the best vehicle security possible. Companies can leverage other systems to address the shortcomings of their products and create a novel solution with the best overall safety rating.
Remote Vehicle Shutdown 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 Skyquest analysis, increasing emphasis on improving vehicle safety and rising cases of vehicle theft are slated to be the key factors driving the demand for remote vehicle shutdown over the coming years. Advancements in vehicle safety technology and the growing use of theft protection systems in commercial vehicles are also slated to benefit remote vehicle shutdown adoption. On the contrary, data security and privacy concerns are estimated to impede remote vehicle shutdown demand outlook in the future. Rising cases of vehicle theft and increasing sales of vehicles are making the Asia Pacific region the fastest market for remote vehicle shutdown companies. Remote vehicle shutdown market players can integrate their products with other offerings to maximize their sales and revenue generation potential.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.7 billion |
| Market size value in 2031 | USD 7.42 billion |
| Growth Rate | 7.8% |
| 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 Remote Vehicle Shutdown 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 Remote Vehicle Shutdown 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 Remote Vehicle Shutdown 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 Remote Vehicle Shutdown 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 Remote Vehicle Shutdown Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Remote Vehicle Shutdown 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.
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