Automotive Active Health Monitoring System Market Overview 2023-2027: Market Size, Growth Rate And Top Segments As Per The Business Research Company's Automotive Active Health Monitoring System Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Oct. 17, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Automotive Active Health Monitoring System Global Market Report 2023, the global automotive active health monitoring system market is poised for remarkable growth, with a projected expansion from $2.76 billion in 2022 to $3.34 billion in 2023 at a robust compound annual growth rate (CAGR) of 21%. Over the forecast period, the market is anticipated to reach $6.69 billion in 2027, sustained by a CAGR of 18.9%.
Road Safety and Market Growth
The escalating number of road accidents is expected to be a driving force for the growth of the automotive active health monitoring system market. These systems play a crucial role in preventing road accidents by alerting the driver in case of health issues such as heart attacks, arrhythmias, stress, and more. For instance, according to a report by the National Highway Traffic Safety Administration (NHTSA), fatal motor vehicle collisions in the US rose by 10% in 2021. This alarming increase underscores the importance of automotive active health monitoring systems in enhancing road safety.
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Key Players in the Market
Major players in the automotive active health monitoring system market include prominent names like Mercedes-Benz AG, Ford Motor Company, BMW AG, Robert Bosch, AUDI AG, Ferrari, Porsche, Qualcomm Technologies, Inc., Continental AG, and many others. These industry leaders are actively contributing to the development and adoption of this technology.
Technological Advancements Leading the Way
Technological advancement is a key trend in the automotive active health monitoring system market. Companies are dedicated to innovating and integrating cutting-edge technologies to maintain their competitive edge. For example, Harman International introduced Ready Care, a technology focused on driving safety, combining cognitive distraction management, stress-free routing, and personalized comfort features to enhance safety and reduce driver stress. This real-time cognitive load assessment technology helps spot distractions and offers customized interventions for maximum safety.
In addition to this, Harman International's recent acquisition of CAARESYS further demonstrates the commitment of market players to strengthening their product offerings in this domain.
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Dominance in North America
In 2022, North America emerged as the largest region in the automotive active health monitoring system market.
Market Segmentation
The global automotive active health monitoring system market is segmented based on several factors, including:
- Component: Sensors, Other Components
- Location: Driver Seat, Dashboard
- Deployment: On-Premise, Cloud-Based
- Vehicle Type: Passenger Vehicle, Commercial Vehicle
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Application: Pulse, Blood Sugar Level, Blood Pressure, and Other Applications
The Automotive Active Health Monitoring System Global Market Report 2023 provides a comprehensive overview of the market's growth and trends. Companies in the automotive and technology sectors can leverage this report to understand market dynamics, identify emerging opportunities, and make informed decisions. It serves as an essential resource for strategic planning and investment in the rapidly evolving automotive active health monitoring system market.
Automotive Active Health Monitoring System Global Market Report 2023 by The Business Research Company provides insights on the automotive active health monitoring system market size, automotive active health monitoring system market segments, automotive active health monitoring system market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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