Emergency Notification System in Automobile Market Size

Emergency Notification System in Automobile Market size was valued at USD 2.11 billion in 2023 and is expected to exceed USD 4.61 billion by 2036, expanding at over 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of emergency notification system in automobile is assessed at USD 2.21 billion.

The growth of the emergency notification system in automobile market can be attributed to the increasing concerns amongst the governments of various countries, regarding road safety, backed by increasing incidences of road accidents. As per the statistics presented by the World Health Organization, 1.3 million people die every year in road crashes. Installation of emergency notification systems in automobiles can reduce the time taken for dispatching medical help in cases of emergencies, which will reduce the number of casualties of road crashes. Moreover, increasing adoption of mass notification systems in developed countries, is estimated to boost the emergency notification system in automobile market growth over the years. In fact, many countries have made it mandatory to have an inbuilt emergency notification system in domestically manufactured vehicles. For instance, in the countries of the European Union, Automatic Crash Notification (eCall) is being developed as mandatory systems in all commercial and passenger cars, owing to the increasing number of accidents in the region. According to the European Road Safety Observatory (ERSO), 3288 fatalities were caused in 2018, due to crashes involving heavy goods vehicles, which accounted to 14.5% of all road accident deaths.