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

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).

Stolen vehicle recovery refers to the retrieval of stolen vehicles from criminals and thieves. Stolen vehicle recovery systems have been proven to be effective with highly attractive recovery rates as they utilize location data and transmit it to the owner using sensors, which helps them track down their vehicle precisely. Growing use of advanced technologies in vehicles and rising willingness of consumers to spend more to get features such as vehicle recovery systems are slated to bolster the demand for stolen vehicle recovery across the forecast period. Increasing incidence of vehicle theft worldwide is a key factor driving the sales of stolen vehicle recovery systems. Increasing sophistication or organized crime rings is also boosting the demand for highly capable and advanced stolen vehicle recovery devices around the world.

Surging sales of vehicles in the Asia Pacific region have created a highly lucrative environment for stolen vehicle recovery providers and this is what allows this region to establish itself as the fastest expanding one in the world. However, an evolving threat landscape and privacy concerns are projected to be key constraints limiting stolen vehicle recovery market growth potential across the forecast period and beyond.