Rise in`crime rates and security concerns and advancements in technology are boosting the growth of the global anti-theft systems market. In addition, regulatory requirements and insurance incentives positively impact the growth of the anti-theft systems market.
NEW CASTLE, Del., Jan. 18, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Anti-Theft Systems Market by Component (Hardware, Software, and Services), Product Type (Biometric Capture Devices, Remote Keyless Entry, Alarm, and Others), and Industry Vertical (Automotive, BFSI, Consumer Electronics, Government, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the anti-theft systems market was valued at $36.8 billion in 2022 and is estimated to reach $116.2 billion by 2032, exhibiting a CAGR of 12.5% from 2023 to 2032.
Prime Determinants of Growth
Rising crime rates, security concerns, and advancements in technology boost the growth of the global anti-theft systems market. In addition, the regulatory requirements and insurance incentives positively impact the growth of the anti-theft systems market. However, cost implications and affordability privacy concerns, and ethical considerations hamper the anti-theft systems market growth. On the contrary, the integration of artificial Intelligence (AI) and machine learning (ML) is expected to offer remunerative opportunities for the expansion of the anti-theft systems market during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $36.8 Billion |
| Market Size in 2032 | $116.2 Billion |
| CAGR | 12.5 % |
| No. of Pages in Report | 432 |
| Segments covered | Component, Product Type, Industry Vertical, and Region. |
| Drivers | Rising crime rates and security concerns Advancements in technology. Regulatory requirements and insurance incentives. |
| Opportunities | Integration of Artificial Intelligence (AI) and Machine Learning (ML) |
| Restraints | Cost implications and affordability Privacy concerns and ethical considerations |
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The software segment to maintain its leadership status throughout the forecast period.
By component, the hardware segment held the highest market share in 2022, accounting for nearly half of the global anti-theft systems market revenue, owing to increase in demand for integrated and comprehensive security solutions. However, the software segment is projected to attain the highest CAGR of 15.0% from 2023 to 2032, owing to the integration of artificial intelligence (AI) and machine learning (ML) technologies within security software enables predictive analytics, pattern recognition, and anomaly detection.
The alarm segment to maintain its leadership status during the forecast period
By product type, the biometric capture devices segment held the highest market share in 2022, accounting for more than two-fifths of the global anti-theft systems market revenue, owing to its reliability and accuracy in identifying individuals through unique biological traits like fingerprints or facial recognition. These devices offer a robust layer of security, gaining popularity across various sectors due to their effectiveness in preventing unauthorized access or theft. However, the alarm segment is projected to attain the highest CAGR of 18.1% from 2023 to 2032, owing to its versatility and advancements in technology. Modern alarm systems integrate with smart devices, offering remote monitoring and instant alerts, making them increasingly attractive to consumers seeking easy-to-use yet comprehensive security solutions. As technology evolves, alarms become more sophisticated, driving their rapid growth in the market.
The consumer electronics segment to maintain its leadership status during the forecast period
By industry vertical, the automotive segment held the highest market share in 2022, accounting for more than one-fourth of the global anti-theft systems market revenue, owing to rise in instances of vehicle theft globally, which have heightened the demand for more advanced and integrated anti-theft solutions in automobiles. However, the consumer electronics segment is projected to attain the highest CAGR of 16.8% from 2023 to 2032, due to the rise in demand for high-end electronic devices and increase in reliance on smartphones and laptops for personal and professional use amplifying the need for robust anti-theft measures.
Asia-Pacific maintain its dominance by 2032
Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global anti-theft systems market revenue, due to high awareness and a strong focus on security. The region invests significantly in advanced technologies and has stringent regulations, compelling businesses and individuals to adopt robust anti-theft systems. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 14.8% from 2023 to 2032 and is likely to dominate the market during the forecast period, due to expanding urbanization, increasing disposable income, and rise in wareness of security needs. As businesses and urban areas grow, so does the need for reliable security measures, driving the demand for anti-theft systems in this region. The market in Asia-Pacific benefits from technological advancements becoming more accessible and affordable, leading to surge in adoption rates during the forecast period.
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Leading Market Players: –
- ADT
- ASSA ABLOY
- CP Plus Corporation
- Dahua Technology Co., Ltd.
- GALLAGHER GROUP LIMITED
- Godrej
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- Securitas AB
- Tyco Security Products
The report provides a detailed analysis of these key players of the global anti-theft systems market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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