Stolen Vehicle Recovery Systems Market is presently worth USD 12, 304.8 million and is poised to amplify at a CAGR of 7.2% over 2022-2030, thereby amassing a valuation of USD 23,005.3 million by end of the assessment timeline.
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The Global Stolen Vehicle Recovery Systems is presently worth USD 12, 304.8 million and is poised to amplify at a CAGR of 7.2% over 2022-2030, thereby amassing a valuation of USD 23,005.3 million by end of the assessment timeline.
A stolen car recovery device is an anti-theft device that enables users to locate their vehicle if it is lost. Even with the device fitted, the user’s car may still be stolen. It can help clients safely regain it in the event that it falls into the wrong hands.
Radiofrequency technology found in vehicle recovery systems helps law enforcement personnel locate and recover the vehicle. When users report a car theft to the police, special computers send radio signals to the stolen vehicle. These radio signals activate the vehicle recovery system in the car and transmit the location to police computers, making it easier to recover the vehicle.
Global Stolen Vehicle Recovery Systems Market– Overview
A stolen vehicle recovery device is defined as an anti-theft device that allows users to locate their vehicle if it is lost.
Also, the device itself does not prevent the user’s car from being stolen. But, one can help customers get it back safely if it falls into the wrong hands.
Also, the radio frequency technology that has been built into vehicle recovery systems helps law enforcement officers locate and recover the vehicle.
However, these radio signals have activated the car’s vehicle recovery system and will also send the location to police computers that will make it easier to recover the vehicle.
Increase use of trucks will drive the market expansion
Vehicles that have been stolen are recovered using trucks. In addition, they are utilised for moving police tools and supplies to and from crime sites. The demand for trucks is anticipated to rise as a result of rising car theft rates, increased need for specialised vehicles in law enforcement, technical developments in the field of recovering stolen vehicles, and increased need for logistics as a result of global business expansion.
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Segmental analysis of the Market
Based on Components
The Ultrasonic Intrusion Protection System (UIP) segment has dominated the market growth over the forecast period.
Based on Vehicle type
The passenger vehicle type has dominated the market growth over the forecast period.
Based on Technology
The ultrasonic segment has dominated the market growth over the forecast period.
Asia Pacific is anticipated to amplify at a considerable CAGR
The Global Stolen Vehicle Recovery Systems Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because of rising automobile production facilities in the region. There is also an increase in demand in the forecast period for cars, mainly in China and India.
Competitive Landscape
Some of the prominent companies operating in the market are
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Major questions answered in this report
Key takeaways from the report
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Stolen Vehicle Recovery Systems Market , Global Stolen Vehicle Recovery Systems Market , Stolen Vehicle Recovery Systems Market 2022 , United States Stolen Vehicle Recovery Systems Market
Nov 07, 2022
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