Stolen Vehicle Recovery (SVR) refers to the tracking and recovery of stolen vehicles. It typically involves the use of GPS and cellular technology to locate the stolen vehicle and recover it. SVR systems can be integrated into the vehicle or added as an aftermarket solution.
The COVID-19 pandemic has had a limited impact on the stolen vehicle recovery market. While the lockdowns and restrictions on movement have led to a decrease in the demand for vehicles, the number of vehicle thefts has not seen a significant decrease.
According to MRFR analysis, the global Stolen Vehicle Recovery market is expected to register a CAGR of ~9.1% from 2022 to 2030 and hold a value of over USD 23000 million by 2030.
In fact, in some areas, there has been an increase in vehicle theft due to the lack of enforcement and surveillance. This has led to continued demand for SVR solutions, as more people look for ways to protect their vehicles.
Regional Analysis
Asia-Pacific region is expected to hold the largest share in the global Stolen Vehicle Recovery (SVR) market in the coming years. This can be attributed to factors such as the increasing number of vehicle thefts, the growing demand for connected vehicles, and the presence of a large and rapidly growing automotive market in the region. Additionally, the rise in disposable income and the growing awareness of SVR solutions are also expected to drive the growth of the SVR market in Asia-Pacific. The region is also home to several leading SVR providers and manufacturers, further consolidating its position as a key player in the market.
Stolen Vehicle Recovery Market Scope:
The stolen vehicle recovery market refers to the industry involved in the development and deployment of technology and services aimed at locating and recovering stolen vehicles. This includes GPS tracking systems, telematics systems, and software-based solutions that help law enforcement and vehicle owners track down stolen vehicles.
The scope of the stolen vehicle recovery market is quite vast and covers a range of services and technologies. Some of the key players in this market include automotive OEMs, insurance companies, telematics service providers, and technology companies that specialize in GPS tracking and recovery solutions.
The market is expected to grow due to increasing incidents of vehicle theft and the growing demand for connected cars and advanced safety and security systems. The growth of the automotive industry and the increasing number of vehicles on the road are also contributing factors to the growth of the stolen vehicle recovery market.
In conclusion, the stolen vehicle recovery market is a rapidly growing industry that offers a wide range of solutions and services to help recover stolen vehicles. With the increasing demand for advanced safety and security systems, the market is expected to continue its growth trajectory in the coming years.
Market Segmentation
The Global Stolen Vehicle Recovery market has been segmented into technology and component.
Based on the technology, the market has been segmented into Ultrasonic, RFID, and Others.
Based on the component, the market has been segmented into UIP, BBS, Central Locking Systems, ACDS, ADRS, and Remote Keyless Entry Systems.
Key Players
Some of the key market players are HELLA GmbH & Co., KGaA, Robert Bosch GmbH, Valeo, Continental AG Denso Corporation, Mitsubishi Electric Corporation, OMRON Corporation, ALPS Alpine Co., Ltd, Tokairika, Co, Ltd, Lear Corporation and CalAmp.
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