Stolen Vehicle Recovery Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.55 Billion |
| Market Size (2029) | USD 12.49 Billion |
| CAGR (2024 - 2029) | 5.50 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Stolen Vehicle Recovery Market Analysis
The Stolen Vehicle Recovery Market size is estimated at USD 9.55 billion in 2024, and is expected to reach USD 12.49 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).
Over the medium term, the automotive industry has been facing a significant rise in criminal activities, including car hacking and theft. Modern-day criminals present increasingly sophisticated challenges, expected to drive the market's growth in the coming years.
The growing demand for sophisticated security and recovery systems is driven by the need to protect valuable assets like vehicles. These systems provide peace of mind to vehicle owners and offer advanced features to ensure the safety and security of the assets.
The rise in vehicle robbery and the targeting of high-end luxury vehicles in various regions is expected to increase the demand for stolen vehicle recovery systems in the coming years. This trend is likely to be driven by the growing number of sophisticated vehicle theft techniques and the expanding market for luxury vehicles.
Integrating advanced vehicle technologies, such as real-time tracking devices and RFID chips, is expected to become popular among consumers worldwide. This is likely to create a lucrative opportunity for the market in the coming years.
Stolen Vehicle Recovery Market Trends
Ultrasonic Intrusion Protection and Central Lock System Hold Major Market Share
- The automotive industry is transforming significantly due to the digitalization of in-car systems. This digitalization is essential for implementing vehicle automation, connectivity, and shared mobility and is expected to drive substantial market growth in the forecast period.
- The widespread availability of high-speed internet and the increasing use of global positioning systems and other internet-connected technologies that offer advanced security features to consumers are expected to boost the demand for vehicle security systems. This rise in vehicle security systems is likely to lead to an increased demand for ultrasonic intrusion protection systems during the forecast period.
- The growing popularity of the keyless entry system in vehicles is due to the use of proximity and locking sensors to detect the opening and closing of vehicle doors. With the increase in demand for keyless entry systems, sensors will be in significant demand during the forecast period.
- For instance, in May 2024, Great Wall Motor launched the Tank 400 Hi4-T, a mid-to-large-size plug-in hybrid off-road SUV in China. This new SUV model boasts a central lock system among its features.
- Ultrasonic intrusion protection is a security feature that triggers an alert if movement is detected inside the passenger compartment after the vehicle has been locked. This advanced system uses ultrasonic sensors to detect any unauthorized entry or attempted break-in, providing additional security for the vehicle and its occupants. This is anticipated to boost the market in the coming years.
- The increasing consumer interest in connected vehicles is expected to drive the incorporation of advanced technologies such as ultrasonic intrusion protection. This trend is anticipated to create substantial growth opportunities for the market in the foreseeable future.
Europe and Asia-Pacific Hold Major Market Share
- The presence of several auto manufacturers in the region, coupled with the penetration of autonomous vehicles owing to the increasing preference of consumers toward availing vehicles equipped with advanced features and the expanding e-commerce sector in the region, serve as the major determinants for the growth of the market in the European region.
- The increase in vehicle theft across the European region is expected to drive a surge in the demand for advanced security technologies in vehicles. For example, in the United Kingdom, an average of 159 cars are stolen annually, with the perpetrators often being professional criminal groups.
- This represents a significant 20% increase compared to 2022. The rise in car theft incidents underscores the pressing need for enhanced security measures to protect vehicles and deter theft.
- Asia-Pacific is experiencing a significant increase in vehicle sales and a growing demand for vehicle safety features. This trend is expected to create substantial opportunities for the market in the foreseeable future.
- Asia-Pacific is currently one of the most significant automotive markets globally. This is mainly due to the rapidly growing population in the region. Governments across Asia-Pacific are placing significant emphasis on embracing technological advancements to improve personal mobility for consumers. This focus has led to an increased adoption of anti-theft systems in vehicles, ultimately driving the growth of the Asia-Pacific automotive market.
- With the above-mentioned development across the regions, the market is likely to rise significantly in the coming years.
Stolen Vehicle Recovery Industry Overview
The stolen vehicle recovery market is dominated by several key players, such as Robert Bosch GmbH, Altron Ltd, Vodafone Automotive S.p.A., and CalAmp Wireless Networks Corporation (Lojack Corporation). The major players are investing in R&D facilities to develop vehicle security platforms, which is anticipated to boost the market in the coming years. The strategic development between tier-1 suppliers and original equipment manufacturers globally is likely to witness significant market growth during the forecast period. For instance,
- In January 2024, Netstar, a subsidiary of Altron Limited, announced a strategic collaboration with Microsoft. Netstar seamlessly integrated with Microsoft's Connected Fleets Architecture through this partnership, hosting all services in the secure and scalable Microsoft cloud.
- In June 2023, Hyundai Motor Company and Vodafone Automotive collaborated to offer customers cutting-edge connected features and services. As part of this collaboration, Vodafone Business would introduce its Global Internet of Things (IoT) Connectivity for Connected Car Service to numerous Hyundai, Kia, and Genesis models sold in the European market.
Stolen Vehicle Recovery Market Leaders
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Robert Bosch GmbH
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Vodafone Automotive S.p.A.
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CalAmp Wireless Networks Corporation (Lojack Corporation)
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Altron Limited (NETSTAR)
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Tokai Rika Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Stolen Vehicle Recovery Market News
- In April 2024, Verizon Communications Inc. unveiled new GPS tracking software explicitly designed for stolen vehicle recovery. This innovative technology aims to provide vehicle owners with enhanced security and peace of mind.
- In April 2024, Netstar, a subsidiary of Altron Limited, introduced a cutting-edge real-time vehicle fleet telematics bureau in Africa. This innovative bureau is designed to cater to Netstar’s growing commercial fleet customer base and support its emergency contact center and vehicle recovery operation.
- In February 2024, Nissan Motor Company introduced a stolen vehicle tracking function to its customers through the NissanConnect Services app in the United Kingdom.
Stolen Vehicle Recovery Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rise in Demand for Vehicle Security Systems
4.2 Market Restraints
4.2.1 High Installation Cost May Impact the Market Growth
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value - USD)
5.1 By Vehicle Type
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 By Technology
5.2.1 GPS Tracking
5.2.2 Ultrasonic
5.2.3 RFID Chips
5.2.4 Other Technologies
5.3 By Solution
5.3.1 Ultrasonic Intrusion Protection
5.3.2 Battery Backed Alarms
5.3.3 Central Lock Systems
5.3.4 Other Solutions
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 South America
5.4.4.2 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Robert Bosch GmbH
6.2.2 Vodafone Automotive S.p.A.
6.2.3 Teletrac Navman Group
6.2.4 CalAmp Wireless Networks Corporation (Lojack Corporation)
6.2.5 Altron Limited (NETSTAR)
6.2.6 Verizon Communication Inc.
6.2.7 Aptiv PLC
6.2.8 Mitsubishi Electric Corporation
6.2.9 Tokai Rika Co. Ltd
6.2.10 Denso Corporation
6.2.11 Visteon Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. Anti-theft Key Supplier Information**
Stolen Vehicle Recovery Industry Segmentation
A stolen car recovery system is a technological solution to track and locate a stolen vehicle. This system typically utilizes GPS technology to provide real-time location information, aiding law enforcement in recovering the stolen vehicle.
The stolen vehicle recovery market is segmented by vehicle type, technology, solution, and geography. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By technology, the market is segmented into GPS tracking, ultrasonic, RFID chips, and other technologies. By solution, the market is segmented into ultrasonic intrusion protection, battery backed alarms, central lock systems, and other solutions. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. The report offers the market size in value terms in USD for all the abovementioned segments.
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Technology | |
| GPS Tracking | |
| Ultrasonic | |
| RFID Chips | |
| Other Technologies |
| By Solution | |
| Ultrasonic Intrusion Protection | |
| Battery Backed Alarms | |
| Central Lock Systems | |
| Other Solutions |
| By Geography | ||||||||
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Stolen Vehicle Recovery Market Research FAQs
How big is the Stolen Vehicle Recovery Market?
The Stolen Vehicle Recovery Market size is expected to reach USD 9.55 billion in 2024 and grow at a CAGR of 5.5% to reach USD 12.49 billion by 2029.
What is the current Stolen Vehicle Recovery Market size?
In 2024, the Stolen Vehicle Recovery Market size is expected to reach USD 9.55 billion.
Who are the key players in Stolen Vehicle Recovery Market?
Robert Bosch GmbH, Vodafone Automotive S.p.A., CalAmp Wireless Networks Corporation (Lojack Corporation), Altron Limited (NETSTAR) and Tokai Rika Co., Ltd. are the major companies operating in the Stolen Vehicle Recovery Market.
Which is the fastest growing region in Stolen Vehicle Recovery Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Stolen Vehicle Recovery Market?
In 2024, the Asia Pacific accounts for the largest market share in Stolen Vehicle Recovery Market.
What years does this Stolen Vehicle Recovery Market cover, and what was the market size in 2023?
In 2023, the Stolen Vehicle Recovery Market size was estimated at USD 9.02 billion. The report covers the Stolen Vehicle Recovery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Stolen Vehicle Recovery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Stolen Vehicle Recovery Industry Report
Statistics for the 2024 Stolen Vehicle Recovery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Stolen Vehicle Recovery analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Stolen Vehicle Recovery Market Report Snapshots
