This report provides Transforma Insights’ view on the Stolen Vehicle Recovery market. This segment comprises applications supported on the factory-fit Vehicle Head Unit as well as aftermarket devices.
Vehicle theft is a pervasive issue in many countries, leading to the need for Stolen Vehicle Recovery devices. These devices include vehicle tracking to warn of break-ins, prevent theft, and facilitate vehicle recovery in the event of theft. In more sophisticated systems, it may be possible to sound alarms or shut down vehicle functions. This application comprises aftermarket devices that can be placed in the
vehicle in addition to applications running on the factory-fit vehicle head unit. There are a variety of business models. For instance, automotive OEMs are using embedded Stolen Vehicle Recovery services as one of a series of value-added services to generate alternative and recurring revenue streams. In some cases, aftermarket devices are also offered as complimentary service by automotive dealers and insurance companies.
Over the years, there has been an increasing availability of factory-fit vehicle head unit applications, which has pushed aftermarket device providers to offer simpler and cheaper solutions. Additionally, alternative security monitoring and device tracking technologies have also challenged the market. These include the launch of consumer tracking devices such as Apple AirTags and Samsung SmartTags intended for lost item finding and security monitoring solutions such as doorbells and CCTV cameras that are useful in recording vehicle theft activities. Public deployment of automatic number plate recognition (ANPR) cameras mounted on patrolling vehicles also allows license plate verification of vehicles on roads against a stolen vehicle database. The lack of consumer awareness about Stolen Vehicle Recovery devices is another potential barrier to the market.
The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used and revenue.
A full set of forecast data, including country-level forecasts, sector breakdowns and public/private network splits, is available through the IoT Forecast tool.
The report examines key factors that are influencing the development of the market, including:
This section has been further divided into the following subsections:
This subsection discusses the issue of automobile theft across major geographies (in a tabular form, it provides an outlook on vehicle theft per 100,000 vehicles over the period 2018-2022 in Australia, Brazil, Canada, Germany, Italy, Turkey, Dubai, UAE, Mexico, the UK, the USA, and South Africa) and explains how this directly affects the demand for Stolen Vehicle Recovery solutions. It then talks about the benefits of Stolen Vehicle Recovery systems, like providing an effective way to deter theft and recover stolen vehicles by relaying real-time location data to vehicle owners and law
enforcement personnel.
This subsection of the report argues that consumers favour those recovery services that recover the stolen vehicles, rather than simply finding the locations of those vehicles. It also shows how consumers were also willing to spend extra money for a stolen vehicle recovery service that guarantees the privacy of their personal information.
This subsection explains how anti-theft solutions are a valuable part of insurers’ strategies, based on which, they offer discounted premiums to policyholders (ranging between 10% to 25%), who have these devices installed in their vehicles.
This part of the report focuses on the major challenges faced by Stolen Vehicle Recovery solutions, including the availability of cheaper alternative solutions like the availability of asset tracking devices such as Apple AirTags and Samsung SmartTags. In some cases, such cheaper alternatives (like Apple AirTags) have been endorsed by police departments (like the New York Police Department) to track stolen vehicles.
This section of the report discusses how factory-installed or embedded stolen vehicle recovery solutions have become a common feature in many connected vehicle models and the features of these solutions.
In a tabular format, it also provides Stolen Vehicle Recovery device subscription plan examples by various automotive OEMs including BMW, Audi, GM, Hyundai, Volkswagen, and Volvo. It also provides a few examples of relevant IoT deployments in this application, like Toyota Motor Poland using Ganet GanTrack for stolen vehicle recovery.
This section of the report first defines what Stolen Vehicle Recovery Aftermarket devices are and then talks about their types. It also explains how the features offered by aftermarket devices are similar to the OEM features (including ADR or automatic driver recognition) and further talks about the use of ADR (like identifying approved drivers). It also mentions the communication technologies that are used to support these devices and the benefits of these specific technologies. For instance, LPWA technology is preferred by many Stolen Vehicle Recovery companies for its extended coverage, longer battery life, and resistance to jamming or network absence in underground areas. It also provides a few examples of relevant IoT devices in this application, including LoJack Stolen Vehicle Recovery System and Viper 700VR.
The key vendors section lists some of the main providers of products and services related to the market such as General Motors, LoJack Corporation, Meta System, Scorpion Automotive, Spytec GPS, and LandAirSea Systems. The report provides profiles of the various vendors including aspects most relevant to this Application Group, such as product offerings, pricing, financial results, and technology.
In the market forecasts section, we provide a summary of the forecasts from the Transforma Insights IoT Forecast Database:
The report charts the growth in the number of Stolen Vehicle Recovery devices, which will grow from 36.9 million in 2023 to 41.6 million in 2033.
Transforma Insights forecasts are compiled on a country-by-country basis. This report includes a regional summary, showing splits between Australasia, Greater China, North America, Europe, Japan, Latin America, MENA, Russia & Central Asia, South East Asia, South Korea, India & South Asia, and Sub-Saharan Africa.
Transforma Insights’ IoT forecasts include splits between the various connectivity technologies as follows: 2G, 3G, 4G, 5G mMTC, 5G non-mMTC, LPWA (non-mMTC), Satellite, Short Range, and Other.
This section discusses which technologies will be used in the stolen vehicle recovery application group.
This part of the report discusses the market growth in terms of revenue (module revenue, service wrap revenue, and VAC revenue). Transforma Insights estimates that the revenue in the Stolen Vehicle Recovery Application Group will grow at a CAGR of 9%.
