DUBLIN, Nov 28, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Automotive eCall Market 2016-2020" report to their offering.
The report forecasts the global automotive eCall market to grow at a CAGR of 29.77% during the period 2016-2020. The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The electronic components in cars have increased exponentially in recent years. This is due to the increased installation of driver assistance and safety features in automobiles. With the advent of connected car technology, the complexity has further increased in automobiles. Thus, electronics hardware and software are the most crucial parts in today's automobile. According to the report, the developing countries such as India and China have experienced a rise in ownership of passenger cars that come installed with telematics systems owing to changing customer preferences and increased importance of safety features. Increase in the number of road accidents, vehicle thefts, and safety and security issues while roaming are propelling the market growth for automotive telematics. Further, the report states that return on investment for standalone eCall systems is low for OEMs which is hindering the market growth.The European member states have taken many initiatives to lay the foundation for installation of eCall systems. One such initiative is the ban on telephone roaming charges across member states across Europe in 2014 to establish a favorable ecosystem for interoperability of eCall systems. Despite these initiatives, OEMs are still skeptical about the installation of eCall systems as the returns for such systems are low. The revenues generated from eCall systems depend on rare events like accidents. Key vendors: