Jersey City, NJ, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Automotive HMI Market to reach over USD 11.67 billion by the year 2031 - Exclusive Report by InsightAce Analytic
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Automotive HMI Market Size, Share & Trends Analysis Report By Product (Voice Recognition System, Rotary Controllers, Gesture Recognition, Touch Screen Display, Instrument Cluster Display, Steering Mounted Control System, Head-Up Display, Multifunction Switches), By Access Type (Standard HMI System, Multimodal HMI System), By Technology (Visual Interface, Acoustic Interface), By Display Size (<5”, 5–10”, >10”), By Vehicle Type (Passenger Cars, Light Commercial Vehicles), Region, Market Outlook And Industry Analysis 2031"
The global Automotive HMI Market is estimated to reach over USD 11.67 billion by 2031, exhibiting a CAGR of 8.6% during the forecast period.
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The major display behind the steering wheel is the instrument cluster. It displays important data such as speed, fuel level, engine temperature, and warning signs. Automotive HMI is being transformed by the combination of linked car technology and the Internet of Things (IoT). Connected automobiles enable seamless connectivity between the vehicle and external devices, providing access to a variety of services, data, and apps. This connectivity has an impact on the design and functionality of HMI systems, allowing for more personalized and context-aware experiences.
The rise of electrified and self-driving vehicles is having an impact on the automotive HMI market. To display battery status, charging information, and energy management, electric vehicles (EVs) require unique HMI elements. HMI systems are significantly used in autonomous vehicles to connect with passengers and offer information about the vehicle's status and surroundings. These factors impact the vehicle HMI market as a whole, promoting improvements, innovation, and a better user experience. As technology advances and customer expectations change, the market is projected to continue to evolve.
List of Prominent Players in the Automotive HMI Market:
- 3M
- Actia Corporation
- Alpine Co. Ltd.
- Aptiv
- Bosch Global Software Technologies Pvt. Ltd.
- Continental Ag
- Delphi Automotive Plc (U.K)
- Denso Corporation
- EAO Ag
- Faurecia Clarion Electronics
- Forciot Oy Ltd.
- Harman International
- Infineon Technologies Ag
- Intellias Llc
- Luxoft Holding Inc. (Switzerland)
- Marelli Holdings Co., Ltd.
- Panasonic Holdings Corporation
- Rightware Inc.
- Robert Bosch Gmbh
- Synaptics Incorporated
- Tata Elxsi
- Valeo
- Visteon Corporation
- Voicebox Technologies (U.S.)
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Automotive HMI Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 5.64 Bn |
| Revenue Forecast In 2031 | USD 11.67 Bn |
| Growth Rate CAGR | CAGR of 8.6 % from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Product, Technology, Display Size, Access Type, and Vehicle Type |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
Market Dynamics:
Drivers-
Artificial Intelligence (AI) and Machine Learning (ML) advancements are driving up demand for Human-Machine Interfaces (HMIs) in the automobile industry. These cutting-edge technologies have various benefits, including increased driver safety, personalized driving experiences, and reduced risk of unexpected failures. The integration of Natural Language Processing (NLP) technology is one key use of AI driving demand for vehicle HMI. Drivers can interact with the HMI more naturally by improving the accuracy and interpretation of voice recognition technologies, leading to safer and more convenient driving experiences. These innovations are reshaping the automotive HMI environment, responding to drivers' changing expectations, and fueling the industry's demand for more sophisticated and user-friendly HMIs.
Challenges:
The automobile HMI is a vital component of modern vehicles since it gives drivers and passengers access to many features and functions, such as advanced driving assistance systems, climate control, and infotainment systems. However, as many product makers and component suppliers have discovered, one of the key issues in the vehicle HMI market is its complexity. Modern automobiles have an increasing number of features and functions, which complicates the HMI and makes it difficult for users to navigate and operate the system properly.
Regional Trends:
Asia Pacific Automotive HMI Market is expected to register a major market share in terms of revenue and is projected to grow at a high CAGR in the near future. The adoption of superior interiors for automobiles, as well as consumer concern regarding safety and security features, are the primary reasons driving the growth of the automotive HMI industry. Furthermore, development in vehicle production and sales in Asia-Pacific developing countries is impacting the growth of the automotive HMI market. The progress of infotainment and communication systems directly influences the growth of the automotive HMI market share.
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Segmentation of Automotive HMI Market-
By Product-
- Voice Recognition System
- Rotary Controllers
- Gesture Recognition
- Touch Screen Display
- Instrument Cluster Display
- Steering Mounted Control System
- Head-Up Display
- Multifunction Switches
By Technology-
- Visual Interface
- Acoustic Interface
- Other Interface Technologies
By Access Type-
- Standard HMI
- Multimodal HMI
By Display Size
- <5”
- 5–10”
- >10”
By Vehicle Type
- Passenger Cars
- Economy Passenger Cars
- Mid-Price Passenger Cars
- Luxury Passenger Cars
- Light Commercial Vehicles
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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