According to Precedence Research, the global automotive active health monitoring system market was valued at US$ 1.18 billion in 2019 and expected to reach US$ 10.87 billion by 2027, with at a compound annual growth rate (CAGR) of 32% during the forecast period 2021 to 2027.
The automotive industry has been upended within recent past because of increasing integration of advanced technologies such as Artificial Intelligence (AI), vehicle automation, and Internet of Things (IoT). Within the industry, an array of institutions that include public agencies, universities, and major market players are working in tandem to explore potential benefits of such technologies in the automobile industry. In the recent past, active health monitoring system in the automotive industry has gained prominent popularity and the same trend expected to continue in the forthcoming years.
Favorable government policies related to the passenger safety have compelled the market players to integrate health monitoring technologies in the automotive sector. In the wake of same, many healthcare organizations and automotive giants are collaborating with each other for improving the passenger safety in the vehicle. Presently, seat belts and steering wheels can provide real time data related to the driver’s health. Though the technology is at its budding phase, pairing of wearable technology with the automotive active health monitoring systems is a trend that likely to gain notable traction in the upcoming years. Further, advancements in the microelectronics and electronics fields have given rise to the cost-effective devices that are significantly applied in various monitoring tools.
Dashboard anticipated to be the highly attractive segment within the global automotive active health monitoring market. This is mainly attributed to the incorporation of AI and machine learning for face detection, gesture recognition, tiredness, and distraction of driver to prevent accidents. With these advanced technologies mood and other emotions of the driver is being detected that helps the automated car technology to switch the driving mode into the safe mode if the driver is not in a healthy driving condition.
Apart from this, car seat is other important segment is likely to capture prominent value share in the overall market. Rising trend of health monitoring wearable technologies on the driver’s seat for continuously monitoring the pulse, blood pressure, and sugar level of the driver is another prominent trend that boosts the adoption of active health monitoring systems in the car seats segment.
Pulse application segment leads the global automotive active health monitoring system market in the year 2019. The significant growth of the segment is mainly because the variation in the pulse of the driver is the major cause behind an accident. Variation in the heartbeat reflects to the irregular blood flow in the lungs and other parts of the body that may leads to cardiac arrest or other serious problems and this may cause a road accident. To prevent this, the pulse monitoring devices is incorporated in the driver’s seat that continuously monitors and reflects the real-time data of the heart functioning. With any irregularity in the pulse raises an alarm and the system alerts the driver to discontinue driving. This could prevent from several road accidents along with the injury & loss of life. The aforementioned factors are the major contributors for the significant growth of the pulse segment.
Europe is the front-runner in the global automotive active health monitoring system market and estimated to continue its dominance in the upcoming years. This is mainly because of the presence of several automotive giants in the region and is largely focused towards incorporating driver assistance system and other safety features in the vehicle. These automotive players are also extensively focused on the Research & Development (R&D) for improving the in-vehicle health monitoring system.
On the contrary, the Asia Pacific exhibits the fastest growth over the forecast period owing to rapid adoption of advanced electronics components in the automotive industry. In addition, rapid growth in the demand for advanced safety features in the vehicle owing to increasing number of accidents also trigger the demand for active health monitoring system in the region. To ensure the driver safety, government has also mandated the integration of health monitoring technologies in the upcoming automobiles to reduce the loss of life and property caused because of road accidents.
Key Companies & Market Share Insights
The global automotive active health monitoring system market is still at its nascent stage and offer significant opportunity for the market players to innovate and develop attractive health monitoring technologies for automobiles. This will also help the market participants to grab maximum share in the market and strengthen their foothold on a global scale. In the wake of same, they invest prominently in the R&D activity to cater the rapid changes in the consumer demand.
Some of the prominent players in the automotive active health monitoring system market include:
Report Scope of the Automotive Active Health Monitoring System Market
|Market Size||USD 10.87 Billion by 2027|
|Growth Rate||CAGR of 32% from 2021 to 2027|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2027|
|Segments Covered||Location, Component, Vehicle Type, Deployment, Application, Region|
|Companies Mentioned||Faurecia, TATA Elxsi, Plessey Semiconductors, Acellent Technologies, Hoana Medical, Inc., LORD, Micro Strain Sensing Systems, and FLEX LTD.|
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of location, component, vehicle type, deployment, application, and region:
By Vehicle Type
By Regional Outlook
No cookie-cutter, only authentic analysis – take the 1st step to become an Precedence Research client