Emergency Notification System in Automobile Market report which delivers detailed overview of the global emergency notification system in automobile market in terms of market segmentation by deployment type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global emergency notification system in automobile market is anticipated to grab a notable CAGR over the forecast period, i.e., 2022–2030. The market is segmented by application into medical support, disaster recovery, emergency communication, and others, out of which the medical support segment is estimated to garner a significant share over the forecast period, owing to the urgent requirement of medical help in case of any road accident. Since these emergency notification systems can automatically notify concerning authorities, help will reach quicker, and this will increase the survival chances of the victims. This is estimated to boost the market growth in the upcoming years.
The global emergency notification system in automobile market is projected to grow on the back of increasing incidences of road accidents, along with growing concerns amongst the governments across the globe to curb the fatalities caused by such accidents. According to the World Health Organization (WHO), approximately 1.35 million people are killed in road accidents, out of which majority are under the age of 25 years. Road crashes cost most countries more than 3% of their GDP. In addition to this, the increasing adoption of mass notification systems in various developing and developed countries, is another factor estimated to boost the market growth.
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Geographically, the global emergency notification system in automobile market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to grow with a significant CAGR over the forecast period, owing to the increasing cases of road accidents in the countries, such as, the US, and Canada. According to the data by the Association for Safe International Road Travel (ASIRT), more than 38,000 people are killed in road crashes in the U.S. every year. Moreover, the presence of various major automobile manufacturers in the country is estimated to promote the demand for these notification systems, as manufacturers are developing in-built emergency notification systems in the upcoming vehicles.
Increasing Awareness amongst Governments Regarding Road Accidents to boost the Market Growth
Road crashes and accidents are a major cause of untimely death globally, which is why, governments of many countries are focused on controlling the cases of fatalities by road accidents. Emergency notification systems can ensure timely help for any kind of emergencies, which is estimated to reduce the loss of lives for any road crash. These factors are estimated to boost the market growth.
However, these policies take time for implementation, which can hamper the market growth. Moreover, the high initial investment is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global emergency notification system in automobile market which includes company profiling of various major automobile manufacturers, which are collaborating with developers of emergency notification systems, to develop these systems for automobiles.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global emergency notification system in automobile market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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