Stolen Vehicle Recovery Market Size, Share, Growth Analysis, By Technology(Ultrasonic, Radio Frequency Identification, GPS Tracking, and Others), By Vehicle Type(Passenger Cars, and Commercial Vehicles), By Component(Ultrasonic Intruder Protection System (UIP), Backup Battery Siren (BBS), Central Locking System, Automatic Collision Detection System), By Sales Channel(OEMs, and Aftermarket), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Stolen Vehicle Recovery Market?

Global stolen vehicle recovery market size was valued at USD 8.5 billion in 2022 and is poised to grow from USD 8.95 billion in 2023 to USD 13.53 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Report ID: SQMIG25A2278 | Region: Global | Published Date: April, 2024
Pages: 221 | Tables: 120 | Figures: 75

Stolen Vehicle Recovery Market Regional Insights

Europe is estimated to dominate the global stolen vehicle recovery demand outlook across the forecast period while losing some market share to Asia Pacific and North America by the end of 2031. Increasing consumer awareness regarding benefits of stolen vehicle recovery deployment and growing number of automotive manufacturers integrating these systems in their vehicles are also slated to favor market growth in the future. Germany is predicted to account for the highest share of stolen vehicle recovery system sales in Europe over the coming years.

On the other hand, the demand for stolen vehicle recovery in the Asia Pacific region is slated to increase at a rapid pace in the future. Growing sales of vehicles and increasing number of vehicle theft cases are slated to be key factors driving the stolen vehicle recovery market outlook over the coming years. Efforts of governments and law enforcement agencies to create awareness regarding vehicle theft is also slated to promote stolen vehicle recovery adoption in the Asia Pacific region. China and India are slated to be the most lucrative markets for stolen vehicle recovery providers through 2031.

Stolen Vehicle Recovery Market Report Snapshots

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stolen vehicle recovery market size was valued at USD 8.5 billion in 2022 and is poised to grow from USD 8.95 billion in 2023 to USD 13.53 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Stolen vehicle recovery providers should focus on using advanced tracking technologies in their products to maximize their recovery success rate, which in turn, is also estimated to bolster sales potential. Companies can also collaborate with automotive manufacturers, law enforcement agencies, and even thieves to improve their product and provide the best-in-class security. Integration of advanced technologies is a key trend that new as well as established stolen vehicle recovery companies should focus on. 'Denso Corporation (Japan)', 'Robert Bosch GmbH (Germany)', 'Ford Motor Company', 'Tokairika, Co, Ltd (Japan)', 'HELLA GmbH & Co. KGaA (Germany)', 'BMW', 'Valeo (France)', 'Ituran', 'Vodafone Limited', 'Spireon Inc.', 'Mitsubishi Electric Corporation (Japan)', 'Continental AG (Germany)', 'TRACKMATIC UK', 'Cartrack', 'Lear Corporation (US)', 'Digital Matter', 'OMRON Corporation (Japan)', 'Altron'

Vehicle insurance companies are focusing on mitigating their claim risks by adding clauses and mandates that vehicles should be equipped stolen vehicle recovery systems to improve recovery rates. These efforts of insurance companies are pushing individuals to opt for stolen vehicle recovery devices and thereby drive market growth as well.

Use of Predictive Intelligence: Stolen vehicle recovery systems can be integrated with predictive intelligence technology to accurately trace the vehicle and improve the chances of a successful recovery. These systems also collect data from the vehicle, which can be further utilized to feed in predictive intelligence operations and give a better analysis of the situation.

Europe is estimated to dominate the stolen vehicle recovery demand outlook across the forecast period while losing some market share to Asia Pacific and North America by the end of 2031. Increasing consumer awareness regarding benefits of stolen vehicle recovery deployment and growing number of automotive manufacturers integrating these systems in their vehicles are also slated to favor market growth in the future. Germany is predicted to account for the highest share of stolen vehicle recovery system sales in Europe over the coming years.

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Stolen Vehicle Recovery Market Regional Insights

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