Market Research Future (MRFR) has launched a new release on the global Remote Vehicle Shutdown Market. The report presents a thorough overview of the global Remote Vehicle Shutdown Market on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period. Market Synopsis:
Remote vehicle shutdown allows remotely disabling the ignition of a car and is very helpful in case of theft. Some high-end cars are already equipped with this feature; however, remote vehicle shutdown has gained massive consumer attention and is likely to become a standard feature in cars in the years to come. Remote vehicle shutdown is still in its development stage and is designed for use by police and military. Market Research Future (MRFR) has recently published a new report on the global remote vehicles shutdown market and has outlined key factors which can impact the market growth over the forecast period of 2017-2023. MRFR has indicated a CAGR of 8% in the Remote Vehicle Shutdown Market.
The Remote Vehicle Shutdown Market is on an upward growth trajectory and is mainly spurred due to the growing incidence of car theft. Despite the use of advanced electronics and alarm systems, the transportation industry is faced with the challenge of vehicle and cargo theft from fleet vehicles. In such cases, remote immobilization of vehicles acts as a feasible solution to prevent vehicle theft. It helps in prevention of hijacking and burglary. The transportation industry is progressively adopting remote vehicle shutdown systems as a part of their security systems.
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The use of remote vehicle shutdown systems is prevalent in the U.S. where it is used extensively by lenders for recovering subprime auto loans. In the act of failure of the loan amount, lenders use this technology to disable the ignition of car. Increase in a number of subprime auto loans has increased the demand for remote vehicle shutdown technology. Remote vehicle shutdown systems can be of paramount importance to banks and finance companies as well. Additionally, police in the US widely use remote vehicle shutdown systems to stop high-speed hunts and detect stolen cars. They are integrated with comprehensive security devices, GPS tracking, and anti-theft security alarm to provide complete security to cars. Moreover, it helps in preventing criminals from using vehicles as getaway cars.
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