Global In-Vehicle eCall Seen Soaring 11.44% Growth to Reach USD 1120 Million by 2032, Projects Univdatos Market Insights
- Vikas Kumar
- October 3, 2024
- AUTOMOTIVE, NEWS
- 0 Comments
According to a new report by Univdatos Market Insights, In-Vehicle eCall Market is expected to reach USD 1120 Million in 2032 by growing at a CAGR of 11.44%. The rising demand for In-Vehicle eCall is due to the key factors as rising sales of cars, rising demand for electric cars, etc., that have contributed to the growth are rising demand for safety in automobiles.
Growing Demand:
Road Accidents across the globe have risen exponentially as the traffic conditions have worsened due to rising automotive fleet. Additionally, poor road conditions, driver negligence, road rage, and driver recklessness are some other factors that have led to an increase in the number of accidents globally. Additionally, with the higher number of accidents across the globe many of the companies as well as the governments have mandated the use of safety systems in order to reduce the numbers. As per World Health Organization, road accidents across the globe caused 50 million injuries and 1.3 million deaths. This is a significant number that has been one of the pivotal concerns for governments across the globe.
In line with this many of the government policies have been enforced in order to push the manufacturers towards the adoption of safety systems in the automotives. These safety systems include traction control, hill hold and assist, ADAS, airbags, electronic stability control, and eCall within the vehicles in order to immediately avoid comfort and safety and call the authorities in case of an accident.
Considering all the factors the demand for eCall features within the passenger cars and commercial vehicles would further increase as a standard safety feature in the coming years i.e., 2024-2032.
Furthermore, there is a rising trend of motorcycle modification across the globe due to which the aftermarket sales of the In-Vehicle eCall is further increased. Considering the changes the demand for global In-Vehicle eCall is anticipated to exhibit a high CAGR during 2024-2032.
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Applications:
In-vehicle eCall systems offer a crucial safety layer to the vehicle drivers as through the trigger the driver can automatically or manually inform the authority of a distress call. These systems operate on a 4G/5G network for sending signals to the emergency response services. With the rising traffic conditions and burgeoning cases of accidents across the globe, the focus of government and regulatory bodies across the globe has focused on integrating safety features in passenger cars and commercial vehicles. Of these ADAS, eCall, stability control, etc., are prominent ones that would further be in higher demand in the coming years.
Growing Investment in Automotive and Component Manufacturing in Developing Regions:
The growing demand for automobiles in developing regions such as Asia Pacific, the Middle East, Africa, etc, has supported the demand for enhanced safety systems through the OEM category. Additionally, after the European Union, many of the developing regions are further anticipated to adopt similar technologies.
Some other factors due to which the expansion of In-Vehicle eCall demand in the emerging markets is growing is due to the rising investment by the automotive component manufacturing companies. For instance, in 2023, as per the Economic Diplomacy Division India, the Indian automotive component industry has planned to invest USD 6.5 to USD 7 billion in the next five years (2023-28). The investment is in line with the aim to improve the manufacturing capability in the country as well as focusing on increasing exports to other countries
As the demand for Automotive in the emerging markets for various applications, the demand for In-Vehicle eCall will further grow during 2024-2032.
Explore the Comprehensive Research Overview – https://univdatos.com/report/in-vehicle-ecall-market
Conclusion:
In conclusion, the demand for in-vehicle eCall market is poised to experience rapid growth in the coming years owing to the higher demand for safety systems in new-age automobiles. Additionally, many of the emerging markets along with the higher focus on domestic manufacturing of passenger and commercial vehicles will also fuel the demand for in-vehicle eCall systems in the OEM category. Stakeholders in the automotive market are increasingly investing in new safety technologies along with the government’s push to adopt safety systems. The demand for in-vehicle automotive systems is further anticipated to rise and would also play a vital role in shaping the future of the Global In-Vehicle eCall market, ensuring its resilience and contribution to the global In-Vehicle eCall industry.
Key Offerings of the Report
Market Size, Trends, & Forecast by Revenue | 2024−2032.
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis By Vehicle Type, By Trigger Type, By Propulsion Type
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
