Pune, India., Feb. 14, 2023 (GLOBE NEWSWIRE) -- The global Automotive HMI market size was valued USD 10.47 Billion in 2020. The global market size for from Automotive HMI is projected to grow from USD 10.71 Billion in 2021 to USD 18.64 Billion by 2028, with a CAGR of 8.2%. The rising implementation of voice control systems, such as Amazon Alexa and Google Assistant, is expected to propel the market's growth by providing integrated in-car experiences for drivers and passengers.
According to our analyst, the market is driven by the growing demand for connected vehicles, rising focus on driver safety and convenience, and advancements in technology.
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Automotive HMI Companies Analyzed in Report:
- Continental AG
- Visteon Corporation
- Denso Corporation
- Harman
- Alpine Electronics
- Panasonic Corporation
- Valeo
- Bosch
In May 2021, Stellantis, Hon Hai Precision Industry Co., Ltd. and its subsidiary FIH Mobile Ltd. signed a MoU for developing Mobile Drive, a joint venture to create unique in-vehicle user experiences with advanced consumer electronics. The new company will merge Hon Hai Precision's development in the hardware and software of consumer electronics and smartphones with Stellantis' engineering and vehicle design expertise. By improving the quality of life of customers worldwide and accelerating the development of connectivity services and features, the initiative is likely to advance the automotive HMI industry.
Market Drivers & Restraints:
The integration of software solutions for a smooth connection between drivers and the automotive HMI system is fueling the demand for HMI systems. Voice control systems like Amazon Alexa and Google Assistant guarantee safer driving by delivering access to speech recognition technology and help to eliminate distractions. HMI systems are also adaptable and flexible, which enables automakers to cut costs. However, the risk of cyberattacks that could lead to the loss of confidential data may hinder the growth of the automotive HMI market in the future.
Competitive Landscape:
Key companies in the automotive HMI market are collaborating to develop cutting-edge HMI solutions for next-generation vehicles. Denso Corporation is one of the leading companies in the market and has maintained its position by leveraging the expertise of other companies.
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Market Segments:
The market for automotive HMI is divided into passenger cars and commercial vehicles. The passenger cars segment is expected to dominate the market, backed by the surging shift towards clean energy and rising commuting needs because of rapid urbanization.
Regional Market Insights:
In 2020, Europe earned USD 2.38 Billion in terms of revenue, and the surging popularity of electric vehicles in developed countries, such as Italy, France, and Germany, is expected to augment regional growth. In addition to this, the demand for luxury cars because of the presence of various high net-worth individuals is also anticipated to aid growth.
Asia Pacific is predicted to be the fastest-growing region in the upcoming years, owing to the implementation of numerous strict norms by regulatory bodies to revive the automobile industry following the negative impact of COVID-19. The Automotive Mission Plan and the National Electric Mobility Mission Plan (NEMMP) are initiatives put forward by the Indian government to broaden exports to USD 80000 million.
North America is expected to experience significant growth in the automotive HMI market, backed by the high demand for passenger cars and commercial vehicles equipped with HMI systems.
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Report Coverage:
In December 2017, DENSO Corporation and BlackBerry Limited jointly developed the world's first integrated HMI platform to create a system to optimally coordinate and cooperate with numerous HMI products, such as sound and displays inside the cockpit of the vehicle at low prices. It is expected to be featured in successive car models released after 2019.
Table Of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Distribution of Automotive HMI Market - By Vehicle Type (in Value)
- Impact of COVID-19
- Global Automotive HMI Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Infotainment System
- Instrument Cluster
- RSE Display
- HUD
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Automotive HMI Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Infotainment System
- Instrument Cluster
- RSE Display
- HUD
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Country
- United States
- By Vehicle Type
- Canada
- By Vehicle Type
- Mexico
- By Vehicle Type
- Europe Automotive HMI Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Infotainment System
- Instrument Cluster
- RSE Display
- HUD
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Country
- United Kingdom
- By Vehicle Type
- Germany
- By Vehicle Type
- France
- By Vehicle Type
- Rest of Europe
- By Vehicle Type
- Asia Pacific Automotive HMI Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Infotainment System
- Instrument Cluster
- RSE Display
- HUD
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Country
- China
- By Vehicle Type
- India
- By Vehicle Type
- Japan
- By Vehicle Type
- Rest of Asia Pacific
- By Vehicle Type
- Rest of the World Automotive HMI Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Infotainment System
- Instrument Cluster
- RSE Display
- HUD
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Competitive Analysis
- Key Industry Developments
- Global Market Share Analysis (2020)
- Competition Dashboard
- Comparative Analysis – Major Players
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- Continental AG (Germany)
- Valeo (France)
- Denso Corporation (Japan)
- Bosch (Germany)
- Panasonic Corporation (Japan)
- Visteon Corporation (U.S.)
- Nippon Seiko Ltd (Japan)
- Pioneer (Japan)
- Harman (USA)
- Magneti Marelli (Italy)
- Alpine Electronics (Japan)
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