Share this article Share this article NEW YORK, March 8, 2021 /PRNewswire/ -- The global passenger car security systems market is set to grow by USD 678.81 million during 2020-2024. Technavio segments the passenger car security systems market by product (immobilizer, central lock system, alarm system, and RKE and others) and geography (APAC, North America, Europe, South America, and MEA). The report identifies the increase in car thefts as one of the major factors propelling the market growth. Ask for a Free Sample Report: Passenger Car Security Systems Market by Product and Geography - Forecast and Analysis 2021-2025 Over the years, the number of car thefts has grown exponentially across the world. For instance, in 2019, more than 100,000 cars were stolen in the UK. Hence, to prevent such car theft instances, governments worldwide are introducing auto theft prevention regulations. This is compelling automakers to introduce vehicles with pre-installed security systems and various other advanced sensors for the safety and convenience of consumers. For instance, Porsche AG and Tesla Inc. have installed their own anti-theft systems in all their models. All these factors are expected to provide significant opportunities for market vendors during the forecast period.