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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.
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Interswitch Digitises Nigeria’s Interstate Travel With Ticket Vending Platform
By Modupe Gbadeyanka
Nigeria’s interstate transport ecosystem has been digitalised by the introduction of a ticket vending platform by one of Africa’s leading integrated payments and digital commerce companies, Interswitch.
This comprehensive digital solution was designed to transform ticketing, streamline operations, and enhance service delivery.
At the core of the solution is a secure, token-based system that allows travellers to purchase digital tickets across multiple channels, including web, mobile, and dedicated point-of-sale (POS) devices deployed at transport terminals.
These tokens serve as verifiable digital vouchers, which are validated and redeemed at boarding points, significantly reducing inefficiencies associated with manual ticketing, cash handling, and fragmented sales processes.
It was developed as both an operational management system and a digital marketplace to allow transport operators, particularly small and medium-scale businesses, to digitise their end-to-end processes while connecting to a broader customer base through the Quickteller ecosystem.
With this innovation, operators can seamlessly create and manage routes, oversee terminal activities, track sales, and access real-time performance insights from a single, centralised platform.
It also introduces a marketplace experience that enables travellers to search, compare, and select transport options across multiple operators based on routes, schedules, and pricing. This not only simplifies journey planning but also promotes transparency and choice for commuters.
The platform also supports corporate and institutional users by enabling bulk token purchases, offering a flexible and efficient solution for organisations managing employee or group travel.
In addition, it delivers value to regulators and stakeholders within the transport ecosystem by providing access to structured data and actionable insights that can support oversight, licensing, and consumer protection efforts.
“Transportation remains a critical backbone of Nigeria’s economy, yet much of the sector still operates with fragmented systems and manual processes that limit efficiency and growth.
“With the Ticket Vending Platform, we are introducing a scalable digital infrastructure that empowers transport operators to modernise their operations, expand their reach, and deliver a more seamless experience to travellers.
“Beyond ticketing, this is about creating a connected ecosystem, one that brings together operators, commuters, and regulators on a unified platform, while driving transparency, efficiency, and long-term value across the industry,” the Managing Director for Industry Ecosystems at Interswitch, Ms Chinyere Don-Okhuofu, said.
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FRSC, Brewery Companies Renew Pact to Tackle Drink-Driving
The Federal Road Safety Corps (FRSC) has renewed a strategic partnership with major brewing companies in Nigeria to intensify efforts against drunk driving and improve road safety nationwide.
The renewed Memorandum of Understanding (MoU), signed with members of the Beer Sectoral Group (BSG), extends the collaboration for another five years, with both sides pledging to deepen public awareness, enforcement and community engagement.
FRSC Corps Marshal, Shehu Mohammed, said the partnership underscores the importance of synergy between government and the private sector in addressing road crashes, particularly those linked to alcohol consumption.
He stressed that saving lives on Nigerian roads requires sustained collaboration, adding that the corps would continue to work with industry players to promote responsible behaviour among motorists.
Speaking on behalf of the BSG, Managing Director of Nigerian Breweries Plc and Chairman BSG, Thibaut Boidin, said the renewal reflects the industry’s commitment to sustained collaboration with regulators. He cited previous joint campaigns, including the Don’t Drink and Drive Campaign, as impactful, adding that the next phase would focus on expanding reach and strengthening implementation.
Also speaking, the Managing Director of Guinness Nigeria, Girish Sharma, said the industry remains committed to supporting initiatives that promote safer roads. He noted that while alcoholic beverages are often blamed for road crashes, the real issue lies in irresponsible consumption, particularly drinking and driving.
“We are here to work with you and ensure that this programme grows bigger and delivers real impact. Saving lives is what matters most,” he said.
Similarly, the chief executive of International Breweries Plc, Mr Nicholas Kade, commended the FRSC for its dedication, describing the corps’ efforts as critical to making communities safer. He said the brewing industry would continue to support initiatives that promote responsible drinking and road safety.
The Executive Director of the Beer Sectoral Group, Ms Abiola Laseinde, described the renewal as a milestone in public-private collaboration.
She said the partnership had driven nationwide campaigns against drunk-driving, influenced behaviour and reached millions of Nigerians with road safety messages.
Ms Laseinde added that both parties would scale up interventions in the next five years to further reduce crashes and promote responsible alcohol consumption.
The FRSC and BSG’s partnership has been central to national campaigns discouraging drunk-driving, with stakeholders expressing optimism that the renewed agreement will deliver stronger outcomes.
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NRS Denies Introduction of New Vehicle Tax from July 1
By Modupe Gbadeyanka
The Nigeria Revenue Service (NRS) refuted reports making the rounds on social media that the federal government plans to introduce a new tax on vehicles from July 1, 2026.
Mr Dare Adekambi, who serves as the Special Adviser to the NRS Chairman, Mr Zach Adedeji, and spokesperson for the organisation, said in a statement that the government was not planning to introduce the vehicle tax as claimed.
He described a viral infographic purporting the policy as false and misleading, urging members of the public to disregard it.
Mr Adekambi advised citizens to only rely on information from the NRS, urging them to follow the company its official handles on all social media platforms and its website for accurate information about tax and its activities.
In the infographic, motorists were directed to pay an unspecified vehicle tax rate online or at approved banks and agencies. The website listed as NRS’s was the old one, http://www.firs.gov.ng and not the new http://www.nrs.gov.ng created after it was rebranded.
“The NRS wishes to state categorically that the information did not emanate from the service or any government agency.
“Citizens are, therefore, advised to disregard the fabricated messages designed to mislead the public and instead rely on official government channels for information on government policies,” Mr Adekambi said in the statement.
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