DUBLIN--(BUSINESS WIRE)--The "Remote Vehicle Shutdown Market Analysis, By System, By Vehicle Type, By Propulsion, By Region Forecasts to 2026" report has been added to ResearchAndMarkets.com's offering.
The growth of the logistics business & transportation industry, along with a significant rise in the number of vehicle & cargo thefts globally, is incurring a huge demand for automated systems for securing vehicles and cargo, propelling the growth of the remote vehicle shutdown market.
The Global Remote Vehicle Shutdown market was valued at USD 396.44 Million in 2019 and is forecast to reach USD 781.83 Million, delivering a CAGR of 8.04% through 2027.
Remote vehicle shutdown is a technology that enables vehicle owners to shut down the connected vehicle using radio pulses remotely. Initially, the technology was intended for security, police, and military use to lower the damage caused due to dangerous driving. However, the technology is widely used for remotely finding and disabling stolen vehicles. These systems enable authorized users at remote locations to prevent the movement of a vehicle or to slow or stop an operating vehicle. The technology also enables the dispatcher to gradually decelerate a vehicle by limiting the throttling capability, downshifting, or bleeding air from the braking system.
Some remote vehicle shutdown systems can also provide a one-year report history of all the events, such as ignition status and control, the speed of the vehicle, motion detection of the vehicle, and others. The systems also enhance the security of carriers that are high-risk cargos containing hazardous materials or high-value cargos. The high security offered by the technology and the growing adoption of systems would boost the remote vehicle shutdown market revenue share through 2027.
Further key findings from the report suggest
- The Global Remote Vehicle Shutdown market is estimated to reach USD 781.83 Million over the forecast period. Market growth is driven by a rise in the number of vehicle and cargo thefts globally, generating heavy demand for remote vehicle shutdown technology.
- On the basis of vehicle type, the commercial vehicles segment is estimated to contribute significantly to the remote vehicle shutdown market revenue share through 2027 on account of the growth of the logistics business and transportation industry.
- Based on propulsion type, the electric vehicle segment is poised to garner significant gains over the analysis period due to increasing environmental concerns and the growing adoption of electric vehicles across the globe.
- In the regional landscape, North America is forecast to account for a major chunk of the global vehicle shutdown market share through 2027 due to growing concerns pertaining to vehicle theft in the region. The North American remote vehicle shutdown market is estimated to generate USD 303.93 Million in terms of remunerations by the end of the forecast period.
- Prominent players in the global remote vehicle shutdown market are PassTime (U.S.), Cobra Car Tech. Ltd. (U.K.), Onstar Corp. (U.S.), Sonic Electronix Inc. (U.S.), EMCO Software (Iceland), LoJack Stolen Vehicle Recovery System (U.S.), Frotcom International (Portugal), TracknStop (Ireland), Scania (Sweden), The Tracker (South Africa), and Fleetsmart (U.K.), among others.
- The industry players are increasingly getting involved in the technological development of remote vehicle shutdown solutions to tap into the growth potential in the market.
For the purpose of this study, Reports and Data has segmented the Remote Vehicle Shutdown Market on the basis of system, vehicle type, propulsion, and region:
Key Topics Covered:
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.2. Summary Snapshot, 2016 - 2026
Chapter 3. Indicative Metrics
3.1. Growing Automotive Industry
3.2. Rising demand for electric vehicles
Chapter 4. Global Remote Vehicle Shutdown Market Segmentation & Impact Analysis
4.1. Global Remote Vehicle Shutdown Segmentation Analysis
4.2. Industrial Outlook
4.3. Regulatory Framework
4.4. Porter's Five Forces Analysis
4.5. PESTEL Analysis of Remote Vehicle Shutdown market
Chapter 5. Global Remote Vehicle Shutdown Market, System Insights & Trends
Chapter 6. Global Remote Vehicle Shutdown Market, Vehicle Type Insights & Trends
Chapter 7. Global Remote Vehicle Shutdown Market, Propulsion Insights & Trends
Chapter 8. Global Remote Vehicle Shutdown Market Regional Outlook
Chapter 9. Competitive Landscape
9.2. Market Revenue Share by Manufacturers
9.3. Strategic Benchmarking
9.4. Vendor Analysis
Chapter 10. Company Profiles
- 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)
- Scania (Sweden).
For more information about this report visit https://www.researchandmarkets.com/r/3sb0u3
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