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Automotive Ecalls Market
By Trigger Type, the Automatically Initiated eCall (AIeC) segment is anticipated to exhibit significant growth in the automotive eCall market in the near future
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 27, 2024 /EINPresswire / -- The global Automotive Ecalls Market was valued at $3.4 billion in 2022, and is projected to reach $9.3 billion by 2032, growing at a CAGR of 10.8% from 2023 to 2032. The growth of the global Automotive Ecalls Market is driven by an increasing emphasis on road safety and regulatory mandates. Governments around the world have been executing stringent regulations that delegate the integration of eCall systems in vehicles, targeting to reduce emergency response times and minimize the severity of road accidents.
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Developing countries, specifically in Asia, such as South Korea, India, Japan, and others, have demonstrated a growing commitment to enhancing automotive safety through the extensive adoption of eCall systems in vehicles. These nations recognize the potential of such technology to address their unique road safety challenges and mitigate the devastating impact of road accidents.
In India, the government has taken significant steps to integrate eCall systems into vehicles. The Ministry of Road Transport and Highways (MoRTH) introduced the AIS-140 standard, which mandates the installation of GPS-enabled eCall devices in all public transport vehicles. These devices not only facilitate immediate assistance in emergencies but also aid in tracking vehicle movements, driver behavior monitoring, and overall fleet management.
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The key players profiled in this report include
u-blox, Denso Corporation, VALEO SA, SAMSUNG, LG Electronics Inc., Telit, Continental AG, Aptiv, Thales, Panasonic Holdings Corporation
Likewise, heavy investment to implement modern technologies in propulsion systems and improve railway infrastructure is expected to drive the growth of the market. For instance, in June 2022, the European Union (EU) announced an investment of $5.7 billion to support 135 transport infrastructure projects across the continent. Therefore, an upsurge in budget allocation acts as a key factor that drives the growth of the global railway propulsion system market.
The ongoing trend towards autonomous and semi-autonomous vehicles has also fueled the growth of the automotive eCall market . As vehicles become more capable of analyzing their surroundings and making split-second decisions, the integration of eCall systems enhances their ability to respond effectively to unforeseen situations, thereby enhancing overall road safety.
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On the basis of trigger type, the automotive eCall market is divided into Manually Initiated eCall (MIeC) and Automatically Initiated eCall (AIeC). Manually Initiated eCall (MIeC) an emergency call system integrated into vehicles that allows occupants to manually trigger a distress call to emergency services. Governments and regulatory bodies recognizing the potential safety benefits of Manually Initiated eCall (MieC) might mandate their installation in vehicles, creating widespread market demand.
The global automotive eCall market has witnessed remarkable growth due to a confluence of factors. Stricter safety regulations, technological advancements in vehicle safety, the increase in demand for connected vehicles, and growing consumer expectations have all played a vital role in influencing the expansion of the automotive eCall industry. As the automotive landscape continues to evolve, opportunities for further extension abound, with potential developments in AI-driven accident prediction, more inclusive vehicle-to-vehicle communication, and the integration of eCall systems with emerging transportation models like electric and autonomous vehicles.
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KEY FINDINGS OF THE STUDY
By Trigger Type, the Automatically Initiated eCall (AIeC) segment is anticipated to exhibit significant growth in the automotive eCall market in the near future.
By vehicle type, the Commercial Vehicles segment is anticipated to exhibit significant growth in the automotive eCall market in the near future.
By Propulsion Type, the Electric segment is anticipated to exhibit significant growth in the automotive eCall market in the near future.
By Region, North America is anticipated to register the highest CAGR during the forecast period.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.