Pune, July 23, 2020 (GLOBE NEWSWIRE) — The global automotive ecall market size is projected to reach USD 3.16 billion by 2026, exhibiting a CAGR of 7.3% during the forecast period. Rising number of road accidents worldwide will be the primary growth determinant for this market, shares Fortune Business Insights™ in its report, titled “Automotive ECall Market Size, Share & COVID-19 Impact Analysis, By Type (Automatic and Manual), By Vehicle Type (Passenger Cars Light Commercial Vehicle and Heavy Commercial Vehicles) and Regional Forecasts, 2019-2026”. According to the World Health Organization (WHO), around 1.35 million people are killed every year as a result of road crashes. Over 90% of these accidents occur in low- and middle-income countries. The WHO observes that unsafe vehicles are one the prominent causes for road injuries and fatalities, which is creating a dire need for advanced safety features, especially in budget automobiles. Automotive ecall are important safety components in a vehicle as they facilitate quick communication with emergency service providers through technologies such as Global Positioning System (GPS), which enables these providers to respond in time and save lives. Growing vehicular safety concerns are, therefore, expected to surge the growth of this market.
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List of the Leading Companies Profiled in the Automotive ECall Market Research Report are:
- HARMAN International
- (Gemalto) Thales Group
- Robert Bosch GmbH
- Infineon Technologies AG
- Marelli Holdings Co., Ltd.
- Texas Instruments Incorporated
- Flaircomm Microelectronics, Inc.
- Continental AG
The report states that the value of market for automotive ecall stood at USD 1.82 billion in 2018 and also contains the following:
- Thorough analysis of the market drivers and restraints and their role in shaping the growth trajectory of the market;
- Detailed examination of each and every market segment;
- In-depth profiling of market players and comprehensive study of their key strategies; and
- Valuable insights into the regional developments influencing the market.
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Massive Production and Supply Chain Disruptions in Automotive Sector to Restrict Growth
The automotive ecall market growth is likely to be restricted during 2020 owing to the outbreak of the COVID-19 pandemic. The automotive industry is among the worst-hit due to this pandemic as nationwide lockdowns and stalled economic activities around world have led to a drastic decline in the production of vehicles. For example, the European Automobile Manufacturers Association estimates that factory shutdowns across the European Union (EU) have led to production losses amounting to 2,446,344 automobiles as of June 2020. Furthermore, supply chain disruptions have forced carmakers to suspend manufacturing operations. In South Korea in February 2020, for example, automakers Hyundai and Kia halted several assembly lines, while Nissan declared that it will be stopping its production activities in Japan. These adverse events will inevitably affect the adoption of automotive ecall during the current year.
Stringent Vehicular Safety Norms of the EU to Boost the Market in Europe
Europe, where the market size was USD 0.55 billion in 2018, is expected to dominate the automotive ecall market share during the forecast period on account of strict implementation of automotive safety regulations across the EU. Moreover, increasing private investment in advanced automotive IT to enhance safety quotient of vehicles will provide a further forward push to the regional market.
In North America, akin to Europe, growing concerns surrounding safety of vehicle occupants as well as vulnerable road users such as pedestrians are fueling the market’s growth. Additionally, quick adoption of advanced automotive technologies will also aid the progress of the market in the region. In Asia Pacific, market growth will be primarily dictated by the escalating demand for passenger cars from the flourishing urban areas in the emerging economies of India and China.
Broadening of Product Offerings to be the Key Focus of Market Players
Most of the players in this market are specialists in the domain of automotive technologies and are currently focused on diversifying their range of products. This has led these companies to ramp up their R&D spending and develop innovative safety solutions in compliance with vehicular safety norms formulated by regulatory authorities.
- June 2020: The German engineering major, Robert Bosch GmbH, introduced automatic emergency call system for motorcycles called ‘Help Connect’. Synched to the user’s smartphone, Help Connect sends information of the accident scene through the Bosch Service Center to the emergency service providers, allowing them to respond as quickly as possible.
- March 2020: Valeo, the French automotive supplier, bagged the 2020 Road Safety Innovation award for its novel ecall solution Valeo Rescuer. The solution is the first of its kind to comply with European safety standards and is available for all vehicles currently on road.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Automotive ECall Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Rest of the World
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