The new technologies such as satellites and 5G have laid the foundation to link the automotive industry with other industries which are outside the ecosystem. This will pave the way for cross-segment industry partnerships. In the future, the cars will witness built-in applications for a cloud-enabled platform which will further boost the adoption of health and well-being. The first step will be to integrate the devices such as heart rate measuring sensors in the seat belts, air condition humidifiers, and wearable and other health-related applications. In the second stage, windshield which is enabled with augmented reality and the vehicle dashboard will be employed to display data related to diagnosis such as providing warnings on the vitals of the passengers. This will also open up a new revenue stream for the OEM’s.
The data giants of today such as Google, Amazon, IBM, and others will start offering healthcare related services from medium to long term. Healthcare will be data-based, democratized and will be driven by the consumers. New players are slowly entering the market and it is high time for the mobility industry to enter the market as well.
At present, you might not find similarities between your car and healthcare but in the future, these two industries will be converged to share the key characteristics such as digitalized, individualized, and personalized healthcare. This will be an extension of OEM’s vision of passenger safety. The built-in cloud-enable applications will be crucial to enable healthcare in automotive which will further change the industry’s future as depicted by the figure below:
Automakers are in the process to develop a mechanism where the drivers’ heart attack will be anticipated in advance and the system will be further enabled to trigger the emergency services such as safe halt and at the same time alerting the doctors. Automotive OEMs’ such as Toyota, Ford, Audi, BMW, and other players are working towards providing the health-related offering to consumers in their cars. The National Highway Traffic Safety Administration (NHTSA) and the European New Car Assessment Programme (EURO NCAP) are assessing the standardized safety inside the cars.
Another push to this convergence scenario will be provided by the aging population and the way it will be shaping customer demand and behavior. By 2030, people over 50 are expected to surpass people with 20 years of age. This will further change the requirement from the end user and the automakers need to come up with a new solution catering to the group of a certain age.
The security and privacy concerns in providing healthcare and the stringent regulations for Food and Drug Administration is expected to hinder the growth of medical devices in the future. To be successful in this market, the OEM’s need to build partnerships, engage with customers and build a structural business model which also includes healthcare elements.
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