IN-VEHICLE EMERGENCY CALLING SYSTEM MARKET ANALYSIS

Market Challenges And Opportunities

Stringent Rules and Regulations Put Forward By the Governments of Various Countries Is Expected To Drive Demand for In-Vehicle Emergency Calling Systems.

Government agencies across the globe are focusing on introducing strict policies in regards to installation of in-vehicle emergency calling systems across all the passenger and commercial vehicles to enhance the security of the passengers as well as the driver. This factor is expected to drive demand for in-vehicle emergency calling system during the forecast period (2019-27). For instance, the European Union has mandated the deployment of in-vehicle emergency calling system for all new cars and light trucks manufactured after March 2018; the European Union also plans to achieve 100% penetration of in-vehicle emergency calling system across all the vehicles in the EU before 2035.

Furthermore, growing safety and security concerns among the people have also positively impacted the market growth. Use this system can summon rapid assistance during road incidents by sharing the live location of the vehicle and can also reduce the fatalities, related injuries, and property loss caused during such accidents. For instance, according to the World Health Organization, in 2018, around 1.35 million people died as a result of road traffic crashes and around 20-50 million are injured or disabled. These statistics have led governments to focus on installation of in-vehicle emergency calling systems in the vehicles, which in turn could be a major driver for the market.

However, in low- and middle-income economies connected infrastructure is not available to fully deploy such types of systems in the vehicles. Moreover, there is a lack of emergency service providers in these economies. These are the major challenges which could hamper the growth of the global in-vehicle emergency calling system market.