Newark, July 29, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.2 billion automotive active health monitoring system market will reach USD 52.3 billion by 2033. Technological developments such as artificial intelligence (AI), vehicle automation, and the Internet of Things (IoT) has caused rapid change in the automotive sector in recent years. Several organizations in the sector, including governmental agencies, academic institutions, and prominent organizations, are collaborating to investigate the possible advantages of these technologies in the automotive sector. In the automotive industry, active health monitoring systems have grown in popularity recently, and it is expected that this trend will continue in the years to come. The government's favorable policies regarding passenger safety force the major automotive companies to implement health monitoring systems.
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Following this, many healthcare institutions and major automakers are working together to enhance vehicle passenger safety. Currently, steering wheels and seat belts can offer real-time health information about the driver. Wearable technology and automobile active health monitoring systems are a trend that is expected to gain significant popularity in the future years, even if the technology is still in its infancy. Furthermore, developments in electronics and microelectronics have produced reasonably priced gadgets that find extensive use in a range of monitoring instruments.
Key Insight of the Global Automotive Active Health Monitoring System Market
Europe will account for the largest market size during the forecast period.
Europe is expected to have the greatest revenue market share throughout the forecast period due to its established economies, rising road safety consciousness, and accessibility of the infrastructure required for such systems. Throughout the projection period, Germany is expected to maintain its leading position in the market, followed by France, the UK, and the rest of Europe. Furthermore, a key factor driving this industry is consumers' considerable spending power, which enables them to invest in cars with plenty of features, particularly luxury vehicles.
The dashboard segment dominated the market with the most significant revenue of USD 2.43 billion.
The dashboard segment dominated the market with the most significant revenue of USD 2.43 billion. Machine learning and artificial intelligence are used to identify faces, gestures, driver weariness, and distraction to prevent accidents. When a driver is not fit to drive, these state-of-the-art technologies help automated car technology switch to safe mode by monitoring the driver's mood and other emotions.
The pulse segment dominated the market with the most significant revenue of USD 1.42 billion.
The pulse segment dominated the market, with the most significant revenue of USD 1.42 billion. The driver's pulse is the main factor in accidents. Variations in heartbeat reflect uneven blood flow in the lungs and other parts of the body, which can lead to cardiac arrest or other serious problems and possibly even cause a traffic accident. The driver's seat has pulse monitoring sensors that continuously track and display the heart's real-time activity data to prevent this.
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Market Dynamics:
Drivers: Increase in sales of EV and luxury vehicles
Driving is increasingly associated with chronic diseases such as diabetes, heart disease, and kidney disease, which increases the risk of weariness and attention that result in accidents and the incidence of traffic deaths. By monitoring the driver's health, the car's active health monitoring system helps prevent traffic fatalities.
Restraint: High cost of system
The cost of installing active health monitoring system in vehicles is very high which hinders the market’s growth. The operation of this system requires more hardware and software such as cameras, sensors, and other accessories which adds to the overall cost of the system. This will challenge the growth of the market during the forecast period.
Some of the major players operating in the automotive active health monitoring system market are:
● Qualcomm Technologies
● Plessey Semiconductors Ltd
● NXP Semiconductors N.V.
● Magna International Inc.
● Zephyr Performance Systems
● Cognosos, Inc.
● Texas Instruments Incorporated
● Gentag, Inc.
● Faurecia
● Bosch Automotive Service Solutions Inc.
● Hill-Rom Holdings, Inc.
● Analog Devices, Inc.
● Sensogram Technologies, Inc.
● Harman International
● TATA Elxsi
● Ambulatory Monitoring Inc.
Key Segments cover in the market:
By Location:
● Car Seat
● Dashboard
By Application:
● Blood Sugar Level
● Blood Pressure
● Pulse
● Others
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About the report:
The global automotive active health monitoring system market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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