The automotive eCall market size will grow by 10.19 million units during 2020-2024, progressing at a CAGR of almost 9%. Although the pandemic will leave a negative impact on the market, the OEM’s push to capitalize on unexplored markets in developing countries will open new opportunities for market players.
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Technavio has announced its latest market research report titled Global Automotive eCall Market 2020-2024 (Graphic: Business Wire)
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Developing countries such as China and India are showing healthy growth in the number of automobile sales despite sluggish growth in the global automotive industry. Rapid urbanization and rising disposable incomes in these countries have increased the adoption of passenger cars. Besides, factors such as rising importance on passenger safety, changing consumer preferences, and rising incidences of vehicle thefts have encouraged automakers to offer vehicles with in-built telematics systems and tap the potential of these markets. For instance, Ford offers its EcoSport model in India with many smart features, such as eCall services. All these factors are expected to provide significant opportunities for market players during the forecast period.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the automotive eCall market in optimistic, probable, and pessimistic forecast scenarios. The report identifies the development of next-generation telematics protocol as a key trend that will influence market growth over 2020-2024.
Automotive eCall Market: Development of Next-generation Telematics Protocol
The next-generation telematics protocol (NGTP) is an approach introduced by BMW and telematics service providers such as WirelessCar (Volvo Group) and Connexis for developing telematics solutions. Some of the key objectives of the protocol are to reduce barriers, promote the adoption of new technologies, encourage innovation by providing an open-source platform, and enhance the value proposition of different players operating in the telematics industry. This is expected to help telematics service providers to offer flexible, scalable, robust, and cost-effective telematics solutions to customers, thereby making a useful addition to the current telematics practices in the automotive industry. This trend is expected to have a positive impact on the growth of the global eCall market players during the forecast period.
“Increased collaboration between nations to share telematics infrastructure and the increasing number of vehicle accidents will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Automotive eCall Market: Segmentation Analysis
This market research report segments the automotive eCall market by Technology (Standard installation and TPS installation) and Geography (Europe, North America, APAC, South America, and MEA).
The European region led the automotive eCall market in 2020, followed by North America, APAC, South America, and MEA respectively. During the forecast period, Europe is expected to register the highest incremental growth due to factors such as the presence of various regulations that mandate the installation of eCall systems in vehicles and the availability of support infrastructure for the successful implementation of the same.
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