ID: MRFR/AM/5791-CR | 100 Pages | Published By Swapnil Palwe on September 2022
Automotive Active Health Monitoring System Market Size is expected to cross USD 13.22 Billion by 2030 at a CAGR of 26.29% during the forecast period 2022-2030
The Automotive Active Health Monitoring System Market size is projected to be worth USD 13.22 Billion by 2030, registering a CAGR of 26.96% during the forecast period (2022–2030).
The global Automotive Active Health Monitoring System market is driven by growing demand for safety devices and active tracking of health for drivers over the forecast period. The technology is finding increasing adoption from manufacturers and customers simultaneously.
Automotive active health monitoring systems is classified as a type of driver behavior intelligence system in automotive. Regulators and automotive safety bodies are increasingly demanding mandatory incorporation of ADAS features like driver tracking in their roadmaps to enhance road safety. Many players in the industry are working to enhance monitoring accuracy by detecting and predicting driver condition, behavior, and health., Machine learning, artificial intelligence, and sensor fusion technologies are being combined to achieve optimal performance.
With the continuous spread of the novel coronavirus across the world, automakers are taking extreme measures in the form of plant closures to halt the spread of COVID-19. The situation remains uncertain as more European companies suspend work activities, and the US and APAC automakers extend shutdown periods. The automakers' plans on North American production are an effort to slow the spread of the COVID-19 virus; however, currently, the region is the global epicenter of the outbreak, with the daily number of confirmed cases outstripping the number in any other region. Additionally, as the pandemic is tearing apart the automotive sector, day-by-day, the global players in the automotive industry are focusing on developing preventive measures and new business strategies to address the current and future situation in the global automotive active health monitoring system market.
In response to these impacts, according to the National Automobile Dealers Association (NADA), the forecasts for US light vehicle sales in 2020 were reduced to 14.5 million units, compared to 17 million units in 2019, with further reductions possible if the pandemic is not controlled. As a result, automakers and suppliers in the automotive industry are anticipated to struggle to make profits as there has been a decline in the cash flow margins.
Increasing deaths due to road accidents The sales of electric vehicles (EVs) are growing rapidly due to rising awareness regarding environmental protection and government subsidies and schemes. The awareness regarding the impact of gasoline vehicles on the environment has created a demand for electric vehicles globally. Government initiatives, such as subsidies, grants, improved charging infrastructure, and increased vehicle range, help promote the adoption of EVs. Moreover, key automotive OEMs are moving toward electrification, focusing on the development of hybrid, battery-electric, and plug-in hybrid vehicles. The below graph depicts the increase in the number of electric vehicles on the road between 2015 and 2020. The growing demand for electric vehicles is expected to lead to innovation and development in automotive active health monitoring systems. The increased sale of electric vehicles will enable the manufacturers to develop more advanced active health monitoring system features for electric vehicles. Hence, the increased sale of EVs is expected to drive the product demand and create an opportunity for the players operating in the global automotive active health monitoring systems market during the forecast period.
The installation of active health monitoring systems in a vehicle is expensive. It has complex operations as it features a more significant number of software and hardware such as sensors, video cameras, and other accessories used to analyze the driver’s behavior. The operational cost of automotive active health monitoring systems depends on various factors such as advanced technology and vehicle type. The working operations of automotive active health monitoring systems are also expensive due to the high investment and repair & maintenance costs involved in the generation of advanced technology. For instance, vehicles equipped with advanced driver assistance systems (ADAS) can add an extra cost ranging from USD 3,000 to USD 5,000 to the repair bill after a crash due to pricey sensors and their calibration requirements. Moreover, the production and safety concerns regarding technology development also hinder the growth of the automotive active health monitoring systems. Caterpillar Inc. and Seeing Machines developed an eye tracker as an automotive biometric solution that costs from USD 15,000 to USD 20,000, which is not affordable for financially average individuals. Therefore, the high cost of the system is expected to restrain is expected to restrict the growth of the global automotive active health monitoring systems market during the forecast period.
The demand for safety features, the drop in traffic congestion, growth of connected infrastructure, and transition from ownership to mobility-as-a-service (MaaS) are the factors expected to drive investments and developments of semi-autonomous and autonomous vehicles across the world. Thus, the major automotive and technology companies, such as AB Volvo, Apple Inc., Baidu Inc., BMW AG, Daimler AG, Nvidia Corporation, Delphi Automotive PLC, Ford Motor Company, General Motors Company, Google, and Apple Inc., are investing in the development of autonomous vehicles. The security of semi-autonomous and autonomous vehicles is vital in ensuring reliability and safety even in case of a system malfunction. The increase in awareness and adoption of advanced automobile safety systems in semi-autonomous and autonomous vehicles result in the installation of advanced safety systems, such as active health monitoring system. The installation of these systems is beneficial for protecting passengers from accidents and road deaths. Therefore, the development of semi-autonomous and autonomous vehicles is expected to offer promising growth opportunities to the global automotive active health monitoring system market players during the forecast period.
In the design & development stage, the overall layout, components, and software of the active health monitoring system are determined according to the application and the end users' specific requirements. The development stage includes an initial prototype development phase and testing phase for ensuring efficient performance throughout the entire lifespan of an automotive active health monitoring system. Component supply involves the suppliers of various components such as microprocessors, sensors, control panels, switches, controllers, and others are the inputs required for manufacturing automotive active health monitoring systems. Any variation in the component supply will have either a positive or negative impact on the manufacturing process. For instance, an increase in the component's cost is most likely to increase the manufacturing cost, leading to an increased cost of the final product. After the procurement of components, they are assembled to meet the desired performance specifications. These assemblies are integrated with the automotive active health monitoring software before undergoing certain quality checks to ensure that they comply with the required performance standards. The finished automotive active health monitoring system is delivered to the vendors for distribution. The end users of the automotive biometric systems are automotive OEMs and aftermarket service providers. Key OEMs such as Audi, BMW, Mercedes Benz, and Ford Motor that offer luxury and connected vehicles, are the main customers of automotive active health monitoring systems.
Passenger Car and Commercial Vehicle are the segments based on the application of the Global Automotive Active Health Monitoring System Market. The Commercial Vehicle segment is expected to have the highest CAGR and dominate the market share during the forecast period. The need for driver monitoring is rising not only in the passenger vehicle segment but also in the commercial vehicle segment, wherein challenges are more significant as compared with the passenger segment. Commercial drivers work long hours, many times more than what is advised or specified. In these cases, driver fatigue & drowsiness is the main reason to trigger accidents. Driver distraction, intoxication, drowsiness, aggravated state of mind, etc. have been a significant safety issue worldwide, and system to monitor driver behavior are becoming a priority for vehicles built in the future.
OEMs and aftermarkets are the segments based on the application of the Global Automotive Active Health Monitoring System Market. The OEM segment is expected to have the highest CAGR and dominate the market share during the forecast period. The OEM segment is also showing significant growth in the automotive active health monitoring system market as major and prominent automotive companies including Volkswagen, Ford, Mercedes, Audi, and Volvo have started integrating this technology in their new vehicle model. The OEM segment includes the original equipment manufacturers that procure raw materials for manufacturing active health monitoring system for applications in automobiles. As the demand for commercial vehicles increases in the global automotive active health monitoring system market, the OEM segment is expected to witness substantial demand for automotive active health monitoring system during the forecast period.
Pulse Rate, Open Automotive Active Health Monitoring System, Blood Sugar Level, Blood Pressure and Others are the segments based on the application of the Global Automotive Active Health Monitoring System Market. The Pulse Rate segment is expected to have the highest CAGR and dominate the market share during the forecast period. The pulse segment is anticipated to grow at a significant rate during the forecast period, in the global marketplace. The pulse segment considered the most effective way of monitoring the health condition of an individual. Pulse device is continuous and directly tells the heart functioning of a person. Any 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 could cause road accidents while driving 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. This continuous monitoring factor is expected to fuel the growth of the pulse segment in the active health monitoring systems.
The regions are classified as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. 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. During the forecast period, the Germany is expected to be the leading region in the market, followed by France, UK, and the rest of Europe. 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 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. But APAC also has the high system costs, making them inexpensive in most Asia Pacific economies where inexpensive, bare-bones cars are still the norm.
The global automotive active health monitoring system market consists of various global and regional service providers who are continuously evolving to enhance their market position. The growing demand of electric vehicles (EV) and luxury vehicles as well as the rising concerns regarding the safety and security among the consumers has enhanced the growth of the automotive active health monitoring system market. The growing adoption of technology in vehicles such as the real-time health monitoring system for witnessing the drivers’ fatigue, drowsiness and distraction has propelled the demand for the automotive active health monitoring systems. In addition, the rise in number of road accidents in certain regions has formed a huge demand for such health monitoring systems to control the accident’s impact on the driver.
The Global Automotive Active Health Monitoring System Market is segmented based on Application, Sales channel, Vehicle type, region in this report. The report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments, and company profiles. The insights in this report, comprise, discuss views, and predict the emerging and fast-growing segments, regions, and countries with potential for development in the Global Automotive Active Health Monitoring System Market.
By Sales Channel:
By Vehicle type:
Objectives of the Study
|Market Size||2030: USD 13.22 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, Sales channel, Vehicle type, region|
|Geographies Covered||North America, Europe, Asia-Pacific, Middle East & Africa, and South America|
|Key Vendors||TATA Elxsi (India), Acellent Technologies (US), Kritikal Solutions Pvt. Ltd (US), Faurecia (France), Plessey Semiconductors (UK), Qualcomm Technologies (US), Oceanit (US), DotNetix (South Africa)|
|Key Market Opportunities||Rising adoption in developed countries Development of semi-autonomous and autonomous vehicles|
|Key Market Drivers||Increase in sales of EV and luxury vehicles Rising concerns regarding safety and security Increasing deaths due to road accidents|
The Global Automotive Active Health Monitoring System Market would register a growth of ~26.96% during the forecast period.
High cost of the system is a key restraining factor for the Global Automotive Active Health Monitoring System Market
Europe would enjoy the upper hand in the Global Automotive Active Health Monitoring System Market