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).

Q: Which region accounted for the largest share in Global Remote Vehicle Shutdown Market?

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.

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

Remote Vehicle Shutdown Market News

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 Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

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 News

Remote Vehicle Shutdown Market Report Snapshots

Want to customize this report?

FAQs

What is the market size of Remote Vehicle Shutdown Market?

Who are the key vendors in the Remote Vehicle Shutdown Market?

What is the key driver of Remote Vehicle Shutdown Market?

What is the key market trend for Remote Vehicle Shutdown Market?

Which region accounted for the largest share in Remote Vehicle Shutdown Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300