Remote Vehicle Shutdown Market Size Worth USD 679.7 Million by 2027

According to a recent Emergen Research study, the global Remote Vehicle Shutdown Market will be worth USD 679.7 million by 2027. The increasing number of robberies in commercial vehicles necessitates the use of advanced technologies to protect the vehicle. The logistics industry frequently suffers massive losses as a result of robberies, which has increased demand for advanced technology to prevent robberies, which is expected to propel market growth over the forecast period. Furthermore, the rapid adoption of IoT and artificial intelligence in vehicles to improve reliability and security is expected to drive market growth over the forecast timeframe.

In these dark times, a remote shutdown device can help prevent hijackings and thefts by burglars. This device has a system with manual or automated operators that connects the car via satellites and wireless connections. This device is linked to the vehicle’s central circuit. The signal is received by the transmitter and receiver, which causes the vehicle’s speed to be reduced or the engine to be turned off completely. Subprime auto loans are provided by lenders in the United States where there is a need for a remote vehicle shutdown market. When a borrower fails to repay, the lender uses this technology to turn off their cars’ ignitions. The police department also employs this cutting-edge technology to remotely halt high-speed chases and to conduct searches. the stolen or misplaced automobiles

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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.

Due to the rising concern for the safety of cars, North America is expected to hold the largest market over the forecast period. The Asia Pacific is expected to witness the fastest market growth as auto theft cases have increased rapidly in this region over the past three years.

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

Type Outlook (Revenue, USD Million; 2017-2027)

Automatic

Manual

Propulsion Outlook (Revenue, USD Million; 2017-2027)

Electric

Diesel

Petrol

Vehicle Outlook (Revenue, USD Million; 2017-2027)

Commercial

Passenger

Regional Outlook (Revenue, USD Million; 2017-2027)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

BENELUX

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

Rest of APAC

Latin America

Brazil

Rest of LATAM

MEA

Saudi Arabia

UAE

Rest of MEA

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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