Market Overview

The estimated revenue of the automotive active health monitoring system market in 2024 will be USD 4,862.2 million. The market is expected to witness a 23.3% CAGR during 2024– 2030, to reach USD 17,104.5 million. The market is expanding due to health concerns, strict safety regulations, and a growing emphasis on passenger and driver safety. As consumers become more conscious of the health hazards associated with driving, including psychological strain, automakers are implementing advanced health monitoring systems. Additionally, this system in cars enables prompt and fast sharing of data with external platforms, such as healthcare databases; and other vehicles.

This system boasts several functionalities, including pulse rate tracking, posture monitoring, stress detection, which help assess the driver and passengers’ health and prevent accidents if the system finds the driver incapacitated or able to properly drive.

Key Insights

·  Technological developments increase the accuracy of the sensors used to monitor drive health.

·  Automotive manufacturing companies started using connected vehicle technology to lower the frequency of accidents. They facilitate communication between automobiles and various on- and off-road infrastructure components.

·  This system uses more AI and ML algorithms to forecast health-related problems and improve notification or alert accuracy, which increases user trust in the alerts.

·  Stricter safety regulations for automobiles are being implemented by governments worldwide, which is driving up consumer demand for advanced safety systems in vehicles.

·  The driver seat category will hold the largest share, of 35%, in 2024 in the market because driver mistakes are the primary cause of accidents.

·  The steering wheel is the fastest-growing category during 2024−2030. This is due to the driver's constant interaction with the steering wheel during vehicle operation, which continuously collects health parameter measurements.

·  This system can be integrated into the steering wheel with the camera's increased precision and decreased size.

·  The posture category will hold the largest market share in 2024 because lower back pain is becoming more common.

· Automakers are under pressure to incorporate this system in their new models because of the strict regulations governing vehicle and passenger safety in many countries.

·  Stress detection is the category that is expanding the fastest, with a predicted CAGR of 23.7% between 2024 and 2030 due to the growing emphasis on drivers' mental health.

· This system is compatible with various health monitoring systems, including those that track heart rate and posture.

·  Geographically, North America will have the biggest market share of 45% in 2024. This is because of the region's advanced technologies being affordable and the well-established automotive sector.

·  To promote road safety and lower the likelihood of accidents, the government of North America, especially the U.S., requires automakers to incorporate the latest technologies into their vehicles.

·  APAC is the fastest-growing market with a projected CAGR of 23.8% from 2024 to 2030.

·  The fast urbanization and population expansion of the surrounding countries, including China, India, and Japan, are driving growth in the automotive industry as a whole.

· To improve the technology for active health monitoring, automotive companies in this region are funding R&D.

Source: P&S Intelligence