Remote Vehicle Shutdown System Market - Forecast (2021 - 2026)
Remote Vehicle Shutdown System Market size is forecast to reach $X billion by 2025, after growing at a CAGR X during 2020-2025. Remote Vehicle Shutdown refers to a system that allows the user to use radio pulses to remotely shut down the vehicle to which they are connected. The significant rise in the theft of vehicles and cargo has triggered for the need of automated systems that help in securing the vehicles and cargo. Police also use Remote vehicle shutdown technology to hunt high-speed vehicles and to find stolen cars. In Brazil the government has taken steps to equip manufactured or imported vehicles with tracking and immobilization devices. The transport industry is also experiencing tremendous losses due to cargo robberies, which in turn lead to increased demand in the remote vehicle shutdown market. Another major factor attributing to the growth of the market is the use of Remote Vehicle Shutdown technology by the bank and finance companies to lock-down the vehicles of loan de...