The report forecasts the global automotive biosensors market to grow at a CAGR of 18.62% during the period 2016-2020.
Biosensors as remote healthcare delivery tool will be a key trend for market growth. The connected car concept is widening the application gamut from telematics services such as stolen vehicle tracking, roadside assistance to even healthcare. The data from biosensors can be communicated to a remote healthcare service provider, and appropriate first aid can be communicated to the driver or other occupants of the vehicle. On account of critical conditions, the sensors may be tuned to immobilize the vehicle and activate an alarm while electronic connectivity enabled gadgets can notify emergency medical services.
According to the report, one of the key drivers for market growth will be growing maturity of biosensing technologies and increased acceptance in clinical application industry. Biosensors have been widely adopted in the clinical applications segment for monitoring the body's vital signs. It is thus considered a major technological breakthrough in the healthcare industry. The accuracy and efficacy proven in this shall lead to the gradual maturity of the technology in this vertical. This will have a positive impact on the biosensors usage for automotive applications. Similarly, the wider adoption of wearable healthcare devices is yet to reach its full potential. We infer that the impact of biosensors in automotive applications should be felt positively.
Further, the report states that the author views the biosensor products' (current) high-cost as a major challenge. Data-based evidence has indicated that the cost is likely to drastically drop due to mass production as confirmed by several value chain participants involved in sensor technology markets. Automotive OEMs face humongous cost pressures in the wake of dynamic regulations that govern several components within a vehicle. Stringent emission norms, the need for heavy investments in R&D programs, market competition, and evolving customer demands add to rising cost pressures.
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Market drivers
PART 08: Market challenges
PART 09: Market trends
PART 10: Vendor landscape
PART 11: Key vendor analysis
PART 12: Appendix
For more information on this topic, check out the Pharmaceuticals and Healthcare section of the Research and Markets' blog.
For more information about this report visit http://www.researchandmarkets.com/research/gwkr6c/global_automotive
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-automotive-biosensors-market-to-grow-1862-by-2020---increased-acceptance-in-clinical-application-industry---research-and-markets-300345024.html
SOURCE Research and Markets