According to the report, the global automotive active health monitoring system market is projected to reach ~US$ 10 Bn by 2030, expanding at a CAGR of 32% during the forecast period. The global automotive active health monitoring system market is likely to expand at a CAGR of 32%. Rise in demand for safety features in vehicles and initiatives by governments and OEMs in driver health monitoring are boosting the usage of active health monitoring system, which is anticipated to augment the global automotive active health monitoring system market during the forecast period.
Several OEMs are focusing on the research and development of active health monitoring system in terms of its location under the driver’s seat. Hence, it is likely to be introduced before the dashboard health monitoring system. The dashboard segment is projected to expand at a higher growth rate due to the dashboard active health monitoring system’s integration in the vehicle and combination with other technologies such as active drowsiness system, as it is it is highly cost-effective, as compared to the seat type active health monitoring system.
Expansion of Automotive Active Health Monitoring System Market
The expansion of the market can be attributed to an increase in chronic illness across the globe, owing to unhealthy lifestyle, poor diet, and increase in stress level. The leading cause of death in the U.S. is chronic diseases. In 2012, 117 million people had one or more chronic health conditions, and one in four adults had two or more chronic health conditions. Likewise, in Europe, chronic diseases is a major cause of road accidents-related mortality.
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According to the World Health Organization, in Europe, more than one-third of the population above the age of 15 has chronic disease. Major OEMs, such as Audi, BMW, Mercedes, Ford, Volkswagen, and Volvo, are taking initiatives in driver health monitoring by providing features, such as driver attention and drowsiness detection, by using driving inputs, cameras, and biomedical sensors. These factors are likely to propel the active health monitoring system market during the forecast period.
The dashboard health monitoring system has comparatively more components; hence, it is more expensive. However, the dashboard segment is likely to expand at a rapid pace due to higher functionality provided by the system. Consequently, the dashboard segment is likely to dominate the automotive active health monitoring system market during the forecast period. In terms of vehicle type, the passenger vehicle segment is expected to dominate automotive active health monitoring system market. Passenger vehicle is a highly lucrative segment and is projected to account for a higher share of the market, owing to the higher rate of adoption and vehicles transitioning toward ride safety. The automotive active health monitoring system is still in the testing and introduction phase, which is expected to witness significant adoption due to a rise in safety and security concerns.
Regional Analysis of Automotive Active Health Monitoring System Market
In terms of region, Europe is expected to be a highly attractive market by the end of 2021, in terms of revenue, followed by North America and Asia Pacific. North America is likely to hold a prominent share of the market during the forecast period, owing to the higher implementation of the active health monitoring systems in vehicles in the U.S. People in North America and Europe are facing health issues such as obesity, high/low blood pressure, diabetes, and they need a system that is likely to monitor the vital health signs of an individual.
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Prominent players operating in the global automotive active health monitoring system market include Faurecia, TATA Elxsi, and Plessey Semiconductors. Major OEMs such as Audi, BMW, Mercedes, Ford, Volkswagen, and Volvo are taking initiatives in driver health monitoring by providing features, such as driver attention and drowsiness detection, by using driving inputs, cameras, and biomedical sensors.
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