Remote Vehicle Shutdown Market Size, Share, Growth Analysis, By Type(Automatic, Manual), By Vehicle Type(Passenger, Commercial), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Remote Vehicle Shutdown Market?

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).

Report ID: SQMIG25A2279 | Region: Global | Published Date: April, 2024
Pages: 225 | Tables: 61 | Figures: 70

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.

Remote Vehicle Shutdown Market Report Snapshots

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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 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. '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)'

Emphasis on Asset Protection

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.

North America holds a major chunk of the 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.

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Remote Vehicle Shutdown Market Size, Share, Growth Analysis, By Type(Automatic, Manual), By Vehicle Type(Passenger, Commercial), By Region - Industry Forecast 2024-2031

Remote Vehicle Shutdown Market Regional Insights

Remote Vehicle Shutdown Market Report Snapshots

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