Auto
Car Security System Market to Grow at CAGR of 6%
By Dipo Olowookere
Future Market Insights has delivered key insights on the global car security system market in a new publication titled ‘Car Security System Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026”.
Global sales of car security systems are estimated to be valued at $ 6,787.3 million by the end of 2016, witnessing a Y-o-Y growth of 4.8 percent over 2015, the report projects.
North America is estimated to account for a value share of 30 percent in the global car security system market by 2016 end but Asia Pacific excluding Japan (APEJ) is anticipated to gain a higher growth rate throughout the forecast period.
In the report, Future Market Insights analysed the factors and trends impacting the growth and performance of the global car security system market.
Increasing sales of new vehicles, along with rising awareness among car owners and a robust aftermarket growth are bolstering the global car security system market. Automobile manufacturers are increasing the deployment of security systems in new vehicles to stand out in competition, it said.
Furthermore, increasing adoption of telematics across the globe is enabling easy car monitoring techniques and comfort to car owners with enhancement in car security.
However, the report noted that the high cost of the product and high installation charges are limiting OEM and aftermarket opportunities, though some observers say Vivint price is quite reasonable and affordable.
Automakers provide more options in their premium car variants which in turn is decreasing the adoption by new vehicle owners. Whereas establishment of new car production plants in countries such as Mexico, Turkey, India and China are increasing car security system market opportunities in these regions, it said.
Segmentation highlights
The global car security system is segmented on the basis of sales channel (OEM and Aftermarket), product type (immobilizer system, remote central locking system, alarm system and other systems) and car type (Economic cars, Mid-range cars and Premium cars). On the basis of sales channel, the OEM market segment is expected to dominate globally, but market share of OEM and aftermarket sub-segment is changing from one country to the other. In regions where less cars are produced such as Middle East and Africa, aftermarket segment is a major market and is anticipated to continue to dominate the market in terms of value and volume over the forecast period. There is a strong demand in OEM segment in the regions such as North America, Western Europe and APEJ owing to increasing production of cars and establishment of new production plants. North America has the largest aftermarket share which is expected to decrease over the forecast period. On the basis of car type, (Economic cars include mini and small cars- A & B segment cars as defined by EEC regulation and SUVs, MPVs & light trucks costing less than $15000, midrange cars include C & D segment cars and SUVs, MPVs & light trucks costing between $15,000-30,000, and Premium segment cars include E & F segment cars and SUVs, MPVs & Light trucks costing more than $30,000). Midrange cars are anticipated to dominate throughout the forecast period. Whereas economic cars segment are expected to exhibit the highest CAGR over the forecast period. Car security systems used in economic cars are of low value and adds less value to the market. And premium cars are loaded with many security system which increases the security systems value installed per car. On the basis of product type, the global car security system market is segmented into immobilizer system, remote central locking system, alarm system and other systems which include vehicle trackers, perimeter sensors, ultrasonic sensors and glass break sensors. Others segment is expected to register the highest CAGR in market whereas remote central locking system will continue to dominate in aftermarket and OEM market. Immobilizers are mostly sold in OEM market owing to their large penetration in all the car types.
Regional projections
The global car security system market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa (MEA)). North America is the largest market for car security systems owing to a large aftermarket and higher cost of products. APEJ will dominate the market by 2018 and will continue to increase its share in the future. Japan’s recent downfall in the realm of car production has affected the regional market, but increasing vehicle fleet and increasing car exports will increase Japanese market with a CAGR of 3 percent over the forecast period.
By Modupe Gbadeyanka
The 2025 edition of the Art of Technology (AOT) Lagos is going to be bigger and better with the inclusion of inDrive as its official sponsor.
The AOT Lagos 7.0, themed Future Technologies and a Sustainable Lagos, is scheduled for Thursday, December 4, 2025, at the Landmark Centre, Lagos.
inDrive, a leading global ride-hailing platform operating in nine African countries, is partnering with the Lagos State government to bring together policymakers, innovators, tech founders, investors, and global industry leaders to shape the future of technology and digital transformation in Lagos.
Through this collaboration, inDrive aims to contribute to high-level conversations on driver empowerment, sustainable transport models, safety, and affordability, key challenges affecting millions of daily commuters and mobility service providers in the state.
According to the Country Representative of inDrive Nigeria, Mr Timothy Oladimeji, the sponsorship underscores the company’s deep commitment to advancing equitable mobility systems and supporting conversations that drive long-term impact across the transportation ecosystem.
He noted that inDrive sees AOT Lagos as a critical platform for addressing mobility challenges and accelerating innovation within the state.
During the event, inDrive will be participating in one of the key sessions, discussing the topic From fuel to future: the rise of e-mobility in Lagos.
Aside from this, inDrive will also be hosting a side workshop themed The Market Share Victory – How inDrive Became Nigeria’s Second-Largest Ride-Hailing Player.
“We are proud to sponsor AOT Lagos 7.0 because it aligns perfectly with our vision to democratise mobility and ensure fairness for both drivers and riders.
“As Lagos moves toward a smarter, more sustainable mobility future, inDrive is committed to supporting solutions that prioritise affordability, safety, driver empowerment, and technological readiness.
“Through this partnership, we hope to contribute meaningfully to shaping policies and ideas that will redefine how millions of people move across the state,” he said.
Now in its seventh edition, AOT Lagos has evolved into a premier platform for advancing smart-city innovation, showcasing emerging technologies, and influencing the policy frameworks that shape the digital economy in Africa’s largest city.
By Adedapo Adesanya
The federal government is set to open Section 1 of the 700 km Lagos-Calabar Coastal Highway for public use from December 12 to 17, 2025.
The Minister of Works, Mr Dave Umahi, gave the assurance on Sunday in Lagos during a review of outstanding works on Section 1 of the highway project.
The section 1 is 47.47km long and has six lanes and two carriageways.
Mr Umahi said: “We also set aside April next year to have Section 1 and half of Section 2 fully completed and commissioned,” adding that the contractor handling the project, Hitech Construction Company Limited, had achieved more than 80 per cent of the reinforced concrete pavement.
“We are very grateful to God Almighty for his mercies, and to the President and to the contractor.
“If we are to pay for everything they have done, it will be very difficult to have this job done because there are places we didn’t envisage that we were going to be removing pits up to a depth of 20 metres.
“They had to do that because they are partners in progress for the development of the country.
“We have just about three kilometres to complete the entire sand filling from Ahmadu Bello Way to Eleko Junction, and we are excited at the work and the quality of what has been done,” the former Governor of Ebonyi State, said.
The new Controller of Works in Lagos, Mr Olufemi Dare, told the minister that a lot of settling was ongoing at Chainage 33 of the highway project, praising the contractor for high quality of work.
“Sir, it may interest you to know that the building standing is the palace of this community, and you saved this building, and they are extremely happy,” he said.
On his part, the Managing Director of Hitech Construction Company Limited, Mr Dany Abboud, said that the company would still backfill from Chainage 34 to Chainage 37.
“Dredging is ongoing, we are on track to deliver.
“We are monitoring the settlement in the swampy areas and the water body areas due to the change of alignment,” he said.
The highway, which commenced construction in March 2024, has generated a lot of controversy, with critics raising concern around cost and procurement structure.
By Modupe Gbadeyanka
A Nigerian lender has been accused of frustrating local business owners by not financing Made-in-Nigeria vehicles but promoting the purchase of foreign vehicles.
This allegation was made by the owner of a local vehicle assembly firm, Nord Motion, Mr Oluwatobi Ajayi, in a post on X, formerly known as Twitter.
He described this as an economic sabotage, stressing that this action does not encourage local investors.
“A business owner in the oil and gas sector approached us that he would like to buy two units of the @nordmotion Max pickup for his company. Apparently, he was impressed with the vehicle after some rides with his peers in the sector.
“To my shock, yesterday, my team told me that the bank, a bank operating in Nigeria told him that they do not finance Made-in-Nigeria vehicles, and they even suggested to our customer that he should go for foreign brands instead.
“The most provocative part of this is that all of the brands they suggested to him identified as Made-in-Nigeria brands in their filings with the Bureau of Public Procurement (BPP), which means they decide who they want to be whenever it suits them.
“This is yet another example of the needless sabotage and institutional bias against Nigerian manufacturers and assemblers that we experience in this sector.
“The President aims to grow us into a $1 trillion economy. Nigerians want to buy Made-in-Nigeria products, we are working very hard to produce world-class vehicles, but some banks, who should play the role of credit facilitators, are displaying open prejudice against locally made vehicles.
“What sort of economic sabotage is this?
“Many of us who continue to assemble and manufacture vehicles here do so not just for profit, but out of patriotism and belief in the long game. We see this as a marathon, not a sprint.
“We cannot continue using Nigerian resources to strengthen foreign factories while starving our own indigenous companies of opportunities.
“If we truly want this country to be better, then we must support goods and services made in Nigeria, especially those of us who have shown we can deliver world-class standards. The support has to be real, not just in words, but in policy, in finance, and in action.
“Every time we deny support for local production, we export jobs, skills, and economic growth that should belong here,” he narrated.
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