Automotive Active Health Monitoring System Market is Set to Grow at a CAGR of 36.5% Leading to a Revenue of US$ 73.2 Billion by 2031 | Get In-Depth Studies by Transparency Market Research
WILMINGTON, DE / ACCESSWIRE / March 30, 2023 / Transparency Market Research Inc. - The automotive active health monitoring system market size is estimated to be valued at US$ 73.2 Bn by 2031. Rise in demand for hi-tech safety features in automobiles and increase in incidence of road accidents related to driver fatigue are necessitating the deployment of automotive active health monitoring systems.
Automotive active health monitoring systems entail monitoring of the driver's health and wellness in real-time. The technology uses various cameras, sensors, and other monitoring devices to examine the driver's physical and mental condition and provides alerts if any potential health issues are found.
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Key Findings of Study
Rise in Focus on Vehicle Safety - Vehicle health monitoring systems contribute to the overall safety and comfort of the driver. Superior attributes to prevent probable road accidents is fueling installation of these systems in vehicles.
According to published data, nearly 4,000 accidents are caused in the U.S. each year by crashes involving buses and trucks. Of this, 10% to 12% accidents involve fatigued drivers. As the number of road accidents continue to rise, there is need to enhance vehicle safety. This is anticipated to fuel the automotive active health monitoring system market growth in the next few years.
Role of OEMS to integrate robust driver health monitoring systems into their vehicles is triggering market development. These systems consolidate driver information, such as primary care, wearable devices used, and prescription details, into the vehicle system. This helps understand precise driver health.
Increase in Prevalence of Chronic Diseases - World over, chronic diseases are a major cause of road accidents. According to statistics, high prevalence of chronic diseases such as diabetes and blood pressure in adults is compelling auto manufacturers to integrate active health monitoring systems in vehicles. These devices can measure vital parameters, such as body temperature, blood pressure, and pulse of the driver. This, in turn, is estimated to stir market growth during the forecast period.
Chronic diseases are a major cause of road accidents in Europe. According to the World Health Organization, more than one-third of the population that is 15 years and older suffers from chronic diseases in the region.
Active health monitoring systems feature unique sensor technologies to collect and examine biological data and check driver behavior. This signals the sensors to apply countermeasures to prevent stress, sickness, and drowsiness, thus helping prevent road accidents.
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High Ownership of Passenger Vehicles - Based on vehicle, the passenger vehicle segment is anticipated to account for the leading share during the forecast period. Increase in urban population and surge in disposable income are boosting the ownership of passenger vehicles. The SUV passenger vehicle sub-segment accounted for the leading share in 2022 due to demand for hi-tech safety features in these vehicles.
Cloud-based Systems Gaining Popularity - Based on deployment, the cloud-based segment is anticipated to account for the leading market share during the forecast period. This can be ascribed to the increase in replacement of on premise monitoring systems with cloud-based ones. Economic advantage and data security of a large number of users are boosting the demand for cloud-based systems.
Growth Drivers
- Need for advanced safety features in automobiles to prevent road accidents related to driver fatigue is propelling the automotive active health monitoring system market
- Integration of advanced technology for improved on-road safety of vehicles is bolstering demand for automotive active health monitoring systems
Regional Growth Dynamics
Europe is anticipated to dominate the global automotive active health monitoring system market during the forecast period. Rise in demand for hi-tech passenger vehicles to prevent road accidents and presence of some well-established automobile companies are driving market dynamics of the region.
Asia Pacific is anticipated to record significant industry growth in the next few years. Rise in passenger vehicle ownership and growth in awareness about the importance of driver health are boosting market progress in the region.
Competition Landscape
Competition landscape of the automotive active health monitoring system market is consolidated, with a few manufacturers accounting for majority of market share. Key players are investing significantly in R&D for improved accuracy and effectiveness of their products.
Prominent players in the automotive active health monitoring systems market include TATA Elxsi, Qualcomm Technologies Inc., Hoana Medical, LORD, Faurecia, Acellent Technologies, Questex LLC, Kritikal Solutions Pvt. Ltd., MicroStrain Sensing Systems, and Plessey Semiconductors.
Key Points from TOC:
1. Executive Summary
1.1. Global Market Outlook
1.1.1. Market Value US$ Bn, 2017-2031
1.2. Competitive Dashboard Analysis
2. Market Overview
2.1. TMR Analysis and Recommendations
2.2. Market Coverage / Taxonomy
2.3. Market Definition / Scope / Limitations
2.4. Macro-Economic Factors
2.5. Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.6. Market Factor Analysis
2.6.1. Porter's Five Force Analysis
2.6.2. SWOT Analysis
2.7. Regulatory Scenario
2.8. Key Trend Analysis
3. Industry Ecosystem Analysis
3.1. Value Chain Analysis
4. COVID-19 Impact Analysis - Automotive Active Health Monitoring System Market
5. Pricing Analysis
5.1. Cost Structure Analysis
5.2. Profit Margin Analysis
6. Global Automotive Active Health Monitoring System Market, By Location
6.1. Market Snapshot
6.1.1. Introduction, Definition, and Key Findings
6.1.2. Market Growth & Y-o-Y Projections
6.1.3. Base Point Share Analysis
6.2. Global Automotive Active Health Monitoring System Market Size Analysis & Forecast, 2017-2031, By Locations
6.2.1. Driver Seat
6.2.2. Dashboard
TOC Continued……
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The automotive active health monitoring system market is segmented as follows;
Automotive Active Health Monitoring System Market, by Location
- Driver Seat
- Dashboard
Automotive Active Health Monitoring System Market, by Component
- Sensors
- Others
- Processor
- Network and Bus
- Software
- Infotainment System
- Camera
Automotive Active Health Monitoring System Market, by Vehicle
- Passenger Vehicle
- Hatchback
- Sedan
- SUV
- Commercial Vehicle
Automotive Active Health Monitoring System Market, by Application
- Pulse
- Blood Sugar Level
- Blood Pressure
- Others
Automotive Active Health Monitoring System Market, by Deployment
- On-premise
- Cloud-based
Automotive Active Health Monitoring System Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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