Remote Vehicle Shutdown Market Size Worth USD 994.09 Million in 2032 | Emergen Research

The rising theft of vehicles and increasing demand for advanced automated technology to secure vehicles are driving the demand for the Remote Vehicle Shutdown Market.

Vancouver, Dec. 07, 2023 (GLOBE NEWSWIRE) — The global Remote Vehicle Shutdown Market is forecasted to be worth USD 994.09 Million by 2032, according to a current analysis by Emergen Research. The rising cases of robbery in commercial vehicles entail the need for advanced technologies to protect the vehicle. Due to the robberies, the logistics industry frequently suffers massive losses and increased demand for advanced technology to prevent the robberies, which is expected to propel the market growth over the forecast period. Besides, the rapid adoption of IoT and Artificial intelligence in the vehicle to provide improved reliability and security is anticipated to further propel the market growth over the forecast timeframe.

However, it is anticipated that privacy issues and the risk of automotive damage due to the engines’ lockdown will restrain the market growth over the forecast timeframe.

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Scope of Research          

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Major Companies and Competitive Landscape

The market for Remote Vehicle Shutdown is fragmented, with a significant number of large and medium-sized players, which account for a significant global share of the market. The key players of the market are well-equipped with significant manufacturing resources and are also engaged in various research and development activities.

 Some of the top players in the Remote Vehicle Shutdown market comprise:

• • Sonic Electronix, Inc.
  • Fleetsmart
  • Cobra Car Tech. Ltd.
  • OnStar Corporation
  • Frotcom International
  • Scania AB
  • PassTime
  • EMCO Software
  • LoJack Corporation
  • Tracker Connect (Pty) Ltd.

Strategic Development

In June 2023, OnStar Corporation launched a mobile application to provide safety features like emergency advisors, share places with family members, and roadside assistance. This will strengthen OnStar’s position in the U.S and Canada.

In August 2018, LoJack Corporation announced the formation of a joint venture with Salinas Valley Ford Lincoln. With this deal, LoJack will deliver next-generation telematics solutions and expand its footprint in North America.

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Some Key Highlights from the Report

• In January 2019, in partnership with LoJack, Pioneer Electronics Inc. introduced the rDrive, a connected service solution. By allowing improved accessibility, surveillance, location-based services, and in-vehicle Wi-Fi hotspots, rDrive enhances the experience of vehicle ownership and driving. This will enhance LoJack position in the U.S.
• Due to the growing integration of IoT, artificial intelligence, and other automation processes in the vehicle, the automatic segment is anticipated to dominate the market with a CAGR of 8.0% over the forecasted period.
• Over the forecast timeframe, the petrol segment is expected to dominate the market as petrol is cheaper than diesel, and cars seem to be slightly convenient to purchase and maintain.
• Due to the increasing cases of car thievery globally, the passenger car segment is expected to hold the largest market over the forecast period. Due to the increasing robbery cases in logistical vehicles, the commercial vehicle segment is estimated to rise substantially in the forecast timeframe.

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Emergen Research has segmented the global Remote Vehicle Shutdown Market on the basis of type, propulsion, vehicle, and region:

• Type Outlook (Revenue, USD Million; 2019-2032)
  • Automatic
  • Manual
• Propulsion Outlook (Revenue, USD Million; 2019-2032)
  • Electric
  • Diesel
  • Petrol
• Vehicle Outlook (Revenue, USD Million; 2019-2032)
  • Commercial
  • Passenger
• Regional Outlook (Revenue, USD Million; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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