According to the current analysis of Reports and Data, the global Remote Vehicle Shutdown System Market was valued at USD 442.6 Million in 2020 and is projected to grow at a CAGR of 8.00% from 2020 to 2028. Remote Vehicle Shutdown System refers to a system which helps the user to enable the option of remotely shutting down the vehicle, to which it is connected, using radio pulses. The technology was intended for police, military and security use in order to help lower down the damage that can be caused due to dangerous driving. With the help of this technology, one can remotely find and disable stolen vehicles. Remote vehicle disabling systems can provide the authorized users at remote locations, the ability to prevent an engine from starting, prevent movement of a vehicle, and to stop or slow an operating vehicle. It also allows the dispatcher or other authorized personnel to gradually decelerate a vehicle by downshifting, limiting the throttle capability, or bleeding air from the braking system from a remote location.
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Further key findings from the report suggest
- The valuation for the Global Remote Vehicle Shutdown System market was USD 442.6 Million in 2020 and is predicted to reach USD 830.5 Million by 2028.
- Rise in the number of vehicle and cargo thefts globally have led to an increase in the demand for Remote Vehicle Shutdown System technology.
- Another major factor attributing to the growth of the market is the use of Remote Vehicle Shutdown System technology by the bank and finance companies for using it to lock-down the vehicles of loan defaulters.
- Commercial vehicles segment is forecasted to grow the fastest through the forecast period due to the rising logistics and transportation industry
- Electric vehicle segment is forecasted to grow the fastest through 2026 on account of increasing adoption of electric vehicles.
- Auto manufacturers are increasingly getting involved in the technological development of Remote Vehicle Shutdown System with the increasing potential in the market.
- North America region is forecasted to occupy the largest share in the market in 2026 on account of increasing concerns regarding vehicle theft in the region. The region is forecasted to grow to USD 303.93 Million in 2026.
Competitive Landscape:
Competitive landscape of global Remote Vehicle Shutdown System market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Remote Vehicle Shutdown System market:
PassTime (U.S.), Onstar Corp. (U.S.), Cobra Car Tech. Ltd. (U.K.), Sonic Electronix Inc. (U.S.), LoJack Stolen Vehicle Recovery System (U.S.), EMCO Software (Iceland), Frotcom International (Portugal), The Tracker (South Africa), Fleetsmart (U.K.), TracknStop (Ireland), and Scania (Sweden).
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The global market is further segmented into type and application:
System (Revenue, USD Million; 2018–2028)
- Manual
- Automatic
Vehicle (Revenue, USD Million; 2018–2028)
- Passenger Vehicle
- Mid-sized car
- Sedan
- Minivan
- Convertible
- Crossover
- Hatchback
- Others
- Light Commercial Vehicle (LCV)
- Compact
- Utility Vehicle
- Supermini
- Light Truck
- Others
- Heavy Commercial Vehicle (HCV)
- Mobile Truck
- Limo
- Recreational Vehicle
- Towing Truck
- Fire Trucks
- Others
Propulsion (Revenue, USD Million; 2018–2028)
- Electric
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Petrol
- Diesel
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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