Top 3 Drivers Impacting the Automotive Biosensors Market Until 2020, Reports Technavio

LONDON--()--Technavio analysts forecast the global automotive biosensors market to grow at a CAGR of almost 19% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global automotive biosensors market for 2016-2020. To understand and calculate the automotive biosensors market, the market has been derived from its penetration in the overall passenger cars market and with the help of in-house databases on biosensors application in various industry vertical markets.

Automotive biosensors are likely to experience a one-digit market penetration in the passenger car segment only beyond 2020. This particularly applies to the luxury car segment. However, Technavio believes that though the market entry of biosensors may be through the luxury segment and may remain confined to high-end cars initially, the technology should expand to other car segments beyond the forecast period.

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Technavio automotive analysts highlight the following three factors that are contributing to the growth of the global automotive biosensors market:

  • Growing need to curb road fatalities arising from drunken driving
  • Unprecedented growth rate of global elderly driver population and their vulnerability to crashes owing to weakened motor skills
  • Ability to detect driver's distraction - over 90% of accidents are attributed to driver's error

Growing need to curb road fatalities arising from drunken driving

Governments across the globe are working to arrest the incidence of road fatalities in the interests of public health. Technavio observes that the need to curb road fatalities resulting from alcohol impairment among drivers will get top priority from global governments. The US federal government has already enforced laws to curb drunken driving. 50 states in the US (including the District of Columbia and Puerto Rico) enforce laws that make drunken driving illegal. Per such legislation, drivers that exhibit an alcohol impairment threshold measure of BAC of 0.08 g/dL (or greater than the same) should not operate heavy machinery such as vehicles. Information published by the Traffic Safety Administration in the US indicates that in 2014, 21% of the drivers that were involved in fatal road crashes were alcohol-impaired, and this percentage stayed static since 2005.

Of the total number of alcohol-impaired fatalities, about 64% involved drunk driving. Such accidents also jeopardized the life and limb of vehicle occupants and non-vehicle occupants. These facts and numbers are likely to positively impact the advent of biosensors in automotive applications. Biosensors (alcohol sensors) can be strategically placed inside the vehicle in transmission shift knobs to detect the presence of alcohol in a drunk driver's palm. Such sensors can be engineered to signal the driver to stop the car.

Unprecedented growth rate of global elderly driver population and their vulnerability to crashes owing to weakened motor skills

Globally, senior populations are likely to grow over 60% over present numbers in the next 15 years. As a result of this demographic change, significant numbers from such demographics are likely to become active road users. Many will drive their own automobiles. Therefore, they are likely to penetrate further among driver populations and could be prone or subject to road deaths. As per a 2016 report published by the EU Commission, senior citizens are ranked second in terms of high road fatalities. Governments have taken note of these projections and so are working to enhance road safety for this particular segment of the population.

Siddharth Jaiswal, a lead automotive electronics analyst at Technavio, says, “The vital parameters that are monitored by biosensors may warn senior drivers to stop the vehicle or seek medical attention on the road. The sweat detected in the may flag a medical condition that needs immediate attention.”

Ability to detect driver's distraction - over 90% of accidents are attributed to driver's error

WHO mentions distracted driving as one of the most critical risk factors leading to road fatalities. This is in addition to other key risk factors such as speed and drink-driving, among others. As per a 2016 July report published by the NHTSA, vehicle-related crashes surged by over 7% in 2015, and over 90% of these accidents were attributed to driver error. The Automobile Association of America (AAA) also notes that several features of active safety and growing onboard electronics systems (that offer several infotainment options) may unintentionally introduce cognitive distractions.

Drivers that are too dependent on the gadget may possibly face distraction due to multiple pieces of information presented by the system. Such events may be detrimental to the safety of the driver, vehicle, and surrounding traffic environment. As per data from Traffic Safety Administration in the US, the usage of handheld devices among the drivers is increasing at staggering rates that necessitate the need to keep a check on driver distraction,” adds Siddharth.

Top vendors:

  • Ford
  • Nissan
  • Volkswagen

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global automotive biosensors market to grow at a CAGR of almost 19% during the forecast period, according to their latest report.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com