According to a report, the global automotive human-machine interface market is projected to reach ~ US$ 27 Bn by 2027, expanding at a CAGR of ~7% during the forecast period.
Global Automotive HMI Market: Key Insights
- According to the report, penetration of the automotive HMIs is rising consistently, led by the arrival of new technologies and the adoption of smart features such as speech and face recognition.
- The infotainment systems segment accounted for a significant share of the global automotive human-machine interface market, owing to the high penetration of infotainment systems in vehicles. However, the integration of various modes of interfaces is rising in all systems, which, in turn, is propelling the automotive HMI market.
- Asia Pacific held a notable share of the global automotive human-machine interface market in 2018. The Asia Pacific automotive human-machine interface market is estimated to expand significantly during the forecast period, at a CAGR of ~7% during the forecast period.
- Moreover, the rising inclination of the automotive industry toward vehicle connectivity and intelligent transportation has prompted manufacturers to integrate automotive HMIs in vehicles.
Expansion of Global Automotive HMI Market
- An automotive human-machine interface is a key component of smart and autonomous vehicles. Thus, the global automotive human-machine interface market is expected to expand due to the advancements of technologies in the automotive industry.
- Key premium vehicle manufacturers such as AB Volvo, BMW AG, Daimler AG, and Volkswagen Group are adopting technical-advanced features at a significant pace. Furthermore, the development of HMI systems by key automotive manufacturers such as Continental AG, Harman, Alpine, Denso Corporation, Tata ELXSI, and Valeo, is anticipated to boost the global automotive human-machine interface market at a significantly high growth rate.
- The rising preference for speech recognition and voice command features in vehicles is expected to drive the global automotive human-machine interface market during the forecast period.
- The rising integration of informative screens with infotainment systems for drivers as well as passengers is expected to be a key factor that boosts the global automotive human-machine interface Furthermore, the integration of products, such head-up display and voice command feature, enhance the safety factor of vehicles by reducing the chances of distraction of the driver. Thus, the demand for these products is considerably high in Europe and North America.
Based on product, the infotainment systems segment held a major share of the global automotive HMI market, owing to the high penetration of infotainment systems in vehicles. Moreover, advancements in technology and integration of multiple interfaces for a single system are also likely to drive the global automotive human-machine interface market. Other segments such as heads-up displays and steering mounted interfaces are expected to be highly lucrative in the global automotive human-machine interface market.
Based on interface, the mechanical segment held a major share of the global automotive HMI market. Currently, most of the interfaces used in vehicles are touchscreen-enabled, which is classified under the mechanical segment. Therefore, the segment held a notable share of the global automotive human-machine interface market. The penetration of other interfaces is rising at a high CAGR, and the integration of voice command and face recognition interfaces is rising significantly. Among the latest mid-level compact SUV vehicles, MG Hector is a notable vehicle that is integrated with voice command features, which is boosting its popularity in the market. Consequently, other vehicle manufacturers are likely to integrate such systems into their vehicles in order to consolidate their share in the global automotive human-machine interface market.
Voice command and face recognition features also enhance the safety and security of vehicles by reducing the chances of distraction and protecting the vehicle from theft. The rising preference among consumers toward safety and security features is likely to propel the speech recognition and face detection interface segments of the global automotive human-machine interface market.
Regional Analysis of Global Automotive HMI Market
In terms of region, the global automotive HMI market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a prominent share of the global automotive human-machine interface market, owing to the presence of a large number of manufacturers in China, India, Japan, and South Korea. The rising adoption of the connectivity feature for passenger and commercial vehicles across Asia Pacific is expected to drive the automotive HMI market in the region during the forecast period.
Prominent players operating in the global automotive human-machine interface market include Alpine, Altran, Clarion, Continental AG, Denso Corporation, EAO, Harman International, Luxoft, Magneti Marelli, Nuance, Panasonic, Robert Bosch GmbH, Socionext, Tata ELXSI, Valeo Visteon, and Yazaki.
These insights are based on a report on Automotive Human-Machine Interface Market by Transparency Market Research.
