Automotive HMI Market Share, Growth, Development Trends, Driving Forces, Opportunities| growing at a CAGR of 9% from 2023 to 2029 - Research by Exactitude Consultancy
Increasing Demand for Connected Vehicles as well as Hybrid and Electric Vehicles drives the Automotive HMI market growth
Luton, Bedfordshire, United Kingdom, March 08, 2023 (GLOBE NEWSWIRE) --
Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive HMI Market.
Global Automotive HMI Market stands at US$ 25.4 billion in 2022 and is anticipated to grow at a CAGR of 9% over the following Six years to reach US$ 97.14 billion by 2029.
Automotive HMI Market Growth in upcoming years
A connected car has two-way communication capabilities with external systems (LAN). This enables the car to share data with other devices inside and outside the vehicle as well as internet access. The connected car provides safety features this feature attracts the customer’s point of view. Some benefits help to propel the automotive HMI market growth such as car manufacturers can improve dependability, onboard diagnostics, telematics, and entertainment systems by leveraging connectivity in vehicles. Additionally, connectivity enables on-demand information, usage-based insurance, predictive maintenance and repair, and real-time navigational assistance. These are some factors that positively affect the market.
Human Machine Interfaces are beneficial to the end user and give vehicle manufacturers a clear advantage in a highly competitive industry. The inclination of consumers for cutting-edge automotive safety and technology will help manufacturers exploit the addition of more features to HMI and further solidify the positions of market participants. Additionally, the automotive HMI platform’s adaptability and flexibility would help manufacturers minimize costs over time by preventing the need for duplicate software development and generating revenue from spare parts for already existing hardware, sensors, and components.
The ability to increase value schemes for automotive manufacturers will boost the automotive HMI market growth.
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Drivers
- Increasing demand for connected cars
- Growing emphasis on driver safety and convenience
- Increasing demand for electric and autonomous vehicles
- Regulatory mandates: Governments around the world are implementing regulations and safety standards that require advanced HMIs in vehicles, such as the European Union's General Safety Regulation and the United States' New Car Assessment Program (NCAP).
Opportunities
The rise in automotive sales across the globe this factor will create more opportunities in the automotive HMI market.
Globalization is driving the automotive industry to change quickly. The development of manufacturing facilities in most growing nations, including China, India, and Brazil, is what has led to an increase in car sales. The global automotive sector, which includes a variety of categories, including those for passenger cars and commercial vehicles, in turn, creates outstanding profitability and promises better productivity and sales. This aspect significantly affects major participants in the automobile industry to invest and grow the business through various divisions to improve profitability. Additionally, rising consumer disposable income and an increase in automobile sales globally are driving up automotive vehicle sales.
Here are some of the Technological Advancements in the Automotive HMI Market:
Touchscreen displays: The market for automotive HMI has advanced significantly with the creation of touchscreen displays. These interfaces are more interactive and straightforward thanks to these displays, which makes it easier for drivers to access and manage the various features and functions of the car.
Voice recognition: Recent advancements in voice recognition technology enable more accurate and dependable speech recognition in busy or noisy settings. By enabling voice control over a number of vehicle features and operations, this technology lessens the need for manual contact with the HMI.
Gesture recognition: Gesture recognition technology allows drivers to control various features and functions of the vehicle using hand gestures, reducing the need for physical interaction with the HMI.
Artificial intelligence: Artificial intelligence (AI) is being integrated into some automotive HMIs, enabling the system to learn from driver behavior and preferences, and provide personalized recommendations and suggestions for features and functions.
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Trends
- Increased use of touchless interfaces
- Integration of augmented reality (AR) and virtual reality (VR)
- Personalization of HMI
- Integration of biometric sensors
Competitive Insight
Some of the notable market players operating in the global Automotive HMI Market covered in this report are:
- Continental Ag
- Luxoft Holding, Inc
- Delphi Automotive Plc
- Synaptics Incorporated
- Visteon Corp.
- Valeo S.A.
- Harman International Industries, Inc.
- Clarion Co. Ltd.
- Magneti Marelli S.P.A.
- Alpine Electronics Inc. *The Company List Is Indicative
Recent Developments
In January 2022, Harman International, a leading automotive HMI provider, announced a collaboration with BMW Group to develop a new generation of HMIs for BMW's future vehicles. The new HMI will feature advanced voice recognition technology and a more intuitive user interface.
In December 2021, Magna International, a leading automotive supplier, announced the launch of its new HMI platform, called Magna Smart. The platform features advanced graphics, gesture recognition, and voice control, and is designed to support a range of vehicle architectures and operating systems.
In November 2021, Visteon Corporation, a leading automotive HMI provider, announced a collaboration with a Chinese automaker, FAW Group, to develop a new HMI platform for FAW's future vehicles. The platform will feature advanced graphics and voice recognition technology, and will be designed to support autonomous driving features.
Browse the full “Automotive HMI Market by Technology Type (Visual Interface, Acoustic Interface, Other Interface Technologies), Product (Voice Control Systems, Central Displays, Instrument Clusters, Steering Mounted Controls, Head-Up Displays (HUD), Rear Seat Entertainment (RSE) Displays, Multifunction Switches), Access (Standard HMI, Multimodal HMI), Function Type (Primary HMI, Secondary HMI), End Market and Region, Global Trends and Forecast From 2023 To 2029” Report and TOC at https://exactitudeconsultancy.com/reports/12969/automotive-hmi-market/#table-of-content
Segment Overview
The Automotive HMI market is segmented by Material, By Method, and by Region.
| By Technology | By Product | By End - Market |
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Regional Insights
North America: Due to the significant demand for connected vehicles and advanced driver assistance systems (ADAS), North America is a significant market for automotive HMIs. The largest market in the area, the United States, has a high rate of EV and autonomous car adoption.
Asia Pacific: The Asia Pacific region is one of the largest and fastest-growing markets for automotive HMI (Human-Machine Interface). The region is home to some of the largest automotive manufacturers, such as Toyota, Honda, Hyundai, and Tata Motors, who are constantly innovating and integrating advanced HMI technologies in their vehicles.
Quantitative Analysis
- Market size, estimates, and forecasts from 2023 - 2029
- Market size and revenue estimates for product up to 2029
- Market revenue estimates for application up to 2029
- Market revenue estimates for type up to 2029
- Regional market size and forecast up to 2029
- Company financial
What are the Key Data Covered in this Automotive HMI Market Report?
- CAGR of the market during the forecast period 2023-2029
- Detailed information on factors that will drive Automotive HMI Market growth during the next Six years
- Precise estimation of the Automotive HMI Market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour.
- The growth of the Automotive HMI industry across North America, Europe, APAC, South America, the Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Automotive HMI Market vendors
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/12969/automotive-hmi-market/#request-a-sample
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