Summary

Global vehicle health tracking and monitoring market is expected to grow at a significant rate of around 9% during the forecast period. Vehicle health tracking and monitoring can be defined as observation of critical driving symptoms like sleepiness, distraction, and weariness. Automotive active health monitoring incorporates medical technology that enhances safety within the car. This type of technology inside a car could alter safety and health and wellbeing parameters by monitoring vital signs of the driver. In poor psychological state, injuries are often caused by fatigue, irritability, or other medical issues. Controlling, documenting, and monitoring the driver's most vital parameters are necessary for managing human factors.

The demand for vehicle health tracking and monitoring has risen dramatically due to the growing emphasis on the need for integrated active health monitoring vehicles is boosting the size of the market. The extensive use of smart devices for connectivity and internet is driving the demand for vehicle health tracking and monitoring market. In addition, rising acceptance of electric vehicles across the globe will propel the positive growth for the market. Growing presence of several original equipment manufacturers (OEMs) in the vehicle health monitoring market along with the shifting focus of automobile manufacturers toward modern technologies will propel the market share. Similarly, ever increasing awareness amongst consumers due to its preventive and tracking benefits also contributes towards driving the growth of the global vehicle health tracking and monitoring market. Furthermore, increasing adoption of GPS systems in passenger cars and commercial vehicles is augmenting the vehicle health monitoring market. Rising disposable income of consumers is also driving the market growth. Likewise, the major technological innovations and strategies adopted by key players for new product launches will enhance the market share during the forecast period.

Tata Elxsi, Acellent Technologies, Inc., Qualcomm Technologies, Inc., Parker Hannifin Corp, AUDI AG., Questex., Mercedes-Benz Group AG., BMW AG, Faurecia, and Plessey are some of the key players in the market. Several M&A’s along with product launches have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report
“Amongst component, infotainment systems category to witness higher CAGR during the forecast period”
Based on component, the market is segmented into infotainment systems and sensors. Among these, the infotainment systems segment is anticipated to witness higher growth during the forecast period owing to the rise in demand for technology enabled passenger cars and commercial vehicles coupled with smart devices connectivity to capture real-time data of drivers health. For instance, the digital health monitoring applications, keeps track of the stress, fatigue and sleep levels of the driver which ultimately leads to prevention of accidents.

“Amongst health management, diagnostics segment to witness higher CAGR during the forecast period”
Based on health management, the market is categorized into diagnostics and prognostics. Among these, the diagnostics segment is expected to hold a significant share during forecast period. Owing to the presence of advance and improved tracking system installed in the vehicles that helps identify the possible problems in the functionality. To prevent life-threating situation, the integration of automotive active health monitoring systems in vehicles is essential which can monitor the performance of the passenger cars and commercial vehicles.

“Amongst vehicle type, passenger cars category to witness higher CAGR during the forecast period”
Based on vehicle type, the market is classified into passenger cars and commercial vehicles. Among these, the passenger car category is projected to dominate the global vehicle health tracking and monitoring market during the forecast period due to rising emphasis of automotive manufacturer on passenger cars especially among urban population across the world. Consumers are also more inclined towards these vehicles to cater to their safety and health concerns by using monitoring features. The market of passenger car is also developing due to surge in electric vehicles adoption.

“Amongst sales channel, original equipment manufacturer (OEM) category to witness higher CAGR during the forecast period”
Based on sales channel, the market is divided into original equipment manufacturer (OEM) and aftermarket. Among them, the original equipment accounted for largest market share owing to the technological innovation in the product offerings and increased production and sales of automobiles. Furthermore, increase in demand for hybrid and luxury cars in developing economies is also anticipated to boost the market growth. Similarly, there is a surge in innovation and research in this category which ultimately lead to better and advance product introduction in the market. Rising consumer concern regarding safety coupled with increased disposable income are the key factors which is propelling growth of the market.

“Europe to hold a significant share in the market”
The global vehicle health tracking and monitoring market in Europe account for the significant share and is anticipated to maintain its position over the forecast period. Owing to the increased focus of automotive players on driver assisted safety systems linked with consumer inclination towards health and road safety. The market growth in this region is driven by extensive R&D activities to ensure safety of the vehicle user is to act as a major reason for the development of this region. Besides this, government norms for in-vehicle safety systems is also one of the growth factor. In addition, with presence of great competition among market players, which ultimately results in better vehicle health tracking and monitoring offerings and helps in attaining maximum customer base through services is the reason for market growth in this region. Consumers’ willingness to invest in active health monitoring vehicles especially luxury or high-end cars is creating rewarding opportunities for the market in the region.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global vehicle health tracking and monitoring market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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