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
A bill aimed at prohibiting hawking, trading or preaching inside commercial vehicles in Nigeria has been passed by the Senate.
The bill known as the Federal Road Safety Corps (Amendment) Bill, 2026, imposes fines between N50,000 and N100,000 for violations if assented to by the President.
The piece of legislation was passed by the red chamber of the National Assembly on Thursday and should later be transmitted to President Bola Tinubu for assent.
Members of the upper chamber of the parliament explained that the law was amended to discourage distractions in commercial vehicles and improve the safety of commuters.
In addition, motorists who fail to cooperate with officials of the Federal Road Safety Corps (FRSC) during roadside breath tests conducted on reasonable suspicion are liable to fines or imprisonment or both.
Lawmakers noted that this was to improve compliance with road safety regulations and reduce road crashes, as fines for driving under the influence of alcohol or intoxicating drugs were raised to N100,000 from N5,000, with the risk of spending two years behind bars.
It was also proposed that disobedience to traffic lights, road signs, pavement markings and other traffic control devices will now attract N100,000, while the fine for speed limit violations is now N100,000, with reckless driving now a fine of N100,000 or two years’ imprisonment.
By Dipo Olowookere
Residents and motorists plying the Aina Obembe Road in Baruwa, Ipaja, Lagos, may soon heave a sigh of relief as the excruciating traffic gridlock being experienced in the area both day and night may soon be a thing of the past.
This is because the chairman of Ayobo-Ipaja LCDA, Mr Lukmon Agbaje, has directed those involved in indiscriminate truck parking along the road to remove the heavy-duty vehicles within one week, threatening to invoke appropriate enforcement measures for noncompliance with this directive.
Speaking during a meeting on Wednesday with the management of SENA Company, which owns the affected trucks, as well as the leadership of Oluwadara CDA and other key stakeholders like the Lagos State Traffic Management Authority (LASTMA), at the council’s secretariat, Mr Agbaje frowned at the prolonged inconvenience suffered by the community, stressing that public roads must remain accessible and safe for all users.
He emphasised the need for a collaborative approach in resolving the issue without undermining legitimate business operations, noting that he’s focused on finding a lasting solution to the gridlock experienced between Oluwaga and Aina Obembe, where parked trucks have continued to obstruct traffic, disrupt business activities, and pose safety concerns for residents and motorists.
He tasked the firm and the CDA to jointly identify and implement alternative parking arrangements that would remove all trucks from the affected roads and restore the free flow of traffic.
He declared that, “The welfare of our people remains our highest priority. No individual or corporate organisation should obstruct public infrastructure or create avoidable hardship for residents. We must ensure that economic activities coexist with public safety, order, and convenience.”
The council chief reaffirmed his administration’s commitment to promoting orderly development, ensuring safe and accessible roads, improving traffic management, and creating an environment where businesses can thrive alongside the well-being of residents.
By Adedapo Adesanya
The federal government has cut import levies on new and used vehicles by as much as 10 per cent in a move aimed at reducing the cost of vehicle importation, even as it commenced the implementation of a new Green Tax surcharge.
According to an update issued by the Nigeria Customs Service (NCS) on Wednesday, the import levy on new vehicles has been reduced from 20 per cent to 10 per cent, while the levy on used vehicles has been slashed from 15 per cent to five per cent under the 2026 Fiscal Policy Measures, which took effect on July 1, 2026.
The customs said the policy is designed to ease the cost of vehicle imports while advancing the government’s environmental sustainability objectives through the newly introduced Green Tax.
The implementation also reduces the overall import duty on fully built passenger vehicles from 70 per cent to 40 per cent.
As part of the Green Tax framework, a new environmental surcharge of between two per cent and four per cent will apply to petrol-powered vehicles with engine capacities exceeding 2,000cc. However, mass transit buses, electric vehicles, and passenger cars with engines below 2,000cc are exempt from the surcharge.
Beyond the automobile sector, the fiscal measures also lower import duties on several essential goods. The duty on imported rice has been reduced from 70 per cent to 47.5 per cent, while crude palm oil now attracts a 28.75 per cent duty.
In addition, import duties on agricultural and manufacturing machinery have been completely removed to support local production, while Waste PET has been added to the export prohibition list to encourage domestic recycling.
