Global Automotive Active Health Monitoring System Market Size, Share, Forecast Report, 2020-2027
Automotive active health monitoring refers to monitoring of vital signs of drivers including tiredness, drowsiness, and distraction, to name a few. Automotive active health monitoring includes health technologies that contribute to the safety enhancements, inside a car. Drivers with chronic illnesses are expected to benefit tremendously by this new technology. Growing instances of common disorders such as obesity and diabetes are expected to further increase the importance of this technology in the coming years. Major automobile OEMs including Volkswagen, Mercedes, Volvo and Ford are at the forefront in applying this technology in their vehicles.
Factors such as growing number of accidents, road rage and high speed of vehicles due to improved roads are expected to drive the market for active health monitoring in vehicles. Government encouragement to improve vehicle safety features has also played a key role in increasing the market for automotive active health monitoring systems globally. However, lack of awareness and rising cost of vehicles due to such features could potentially hamper market growth, particularly in price-sensitive countries such as India.
The Global Automotive Active Health Monitoring market has witnessed a rapid growth; expected to rise at a CAGR of ~20%. Increasing sales of luxury vehicles in emerging countries as well as developed regions such as Europe and North America are expected to have a positive impact on the growth of the market. On the other hand, lack of infrastructure to support these systems in upcoming regions such as Asia Pacific and Latin America are pose a challenge to the market. However, growing investments in emerging economies such as Brazil, Argentina and the MEA region, which fall under the Rest of the World, provide an attractive opportunity to the market to grow.
The Global Automotive Active Health Monitoring market is segmented on the basis of component, application, vehicle type, sales channel and region. On the basis of component, the market has been segmented into sensors and infotainment systems. On the basis of application, the market has been segmented into pulse rate, blood sugar level, blood pressure, others. On the basis of vehicle type, the market has been segmented into passenger vehicle and commercial vehicle. On the basis of sales channel, the market has been segmented into OEM and after-market.
Geographically, the global Automotive Active Health Monitoring Market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. Europe is estimated to hold the highest revenue market share throughout the forecast period owing to increased awareness regarding road safety, developed economies, and infrastructure availability for such systems. Moreover, high spending power of consumers enables them to invest in feature-rich vehicles, particularly luxury cars, which is a major driving factor in this region.
The prominent players in the global Automotive Active Health Monitoring System Market include TATA Elxsi (India), Acellent Technologies (U.S.), Qualcomm Technologies, Inc, (U.S.), Questex LLC (U.S.), Hoana Medical (U.S.), Kritikal Solutions Pvt. Ltd (India), LORD MicroStrain Sensing Systems (U.S.), Faurecia (France) and Plessey Semiconductors (UK).