New York, US, June 16, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Automotive Human-Machine Interface (HMI) Market Research Report Information by Access Type, Region, Product, and Technology - Forecast Till 2032”, the Automotive HMI market is predicted to grow substantially over the assessment timeframe from 2022 to 2032 at a healthy CAGR of around 8.80%. The reports even share predictions regarding the market's growing revenue share, which will likely reach a market of USD 10.79 billion by the end of 2032. As per the study documents, the market was worth around USD 5.5 billion in 2021.
Automotive HMI Market Scope:
The primary aspect causing a surge in the market's performance is the human-machine interface's ability to offer driver safety.
Automotive HMI Market Competitive Analysis
The catalog of the top leaders across the global Market for Automotive HMI includes players such as:
- Delphi Automotive PLC (U.K)
- Voicebox Technologies (U.S.)
- Luxoft Holding Inc. (Switzerland)
- HARMAN
- Visteon Corporation (U.S.)
- Among others.
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Market USP Covered
Automotive Human-Machine Interface (HMI) Market Drivers
The global Automotive HMI industry has advanced enormously in recent years. The primary aspect causing a surge in the market's performance is the human-machine interface's ability to offer driver safety. Furthermore, the consumer preference for advanced vehicle safety & technology coupled with growing investments is also projected to boost the development of the market over the coming years.
Automotive Human-Machine Interface (HMI) Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked. In addition, the lack of cyber security in the system is also likely to restrict the market's growth.
Automotive HMI Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 10.79 billion |
| CAGR during 2022-2030 | 8.80% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Technology, Access Type, and Region |
| Key Market Opportunities | Technological advancements in connected & autonomous vehicles |
| Key Market Dynamics | Increase use of AI in vehicles |
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Automotive Human-Machine Interface (HMI) Market COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Automotive HMI industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era. The numerous measures taken by the Government to combat the adversities and impact of the pandemic on the Automotive Human-Machine Interface (HMI) market will help it to expand.
Automotive Human-Machine Interface (HMI) Market Segment Analysis
Among all the products, the instrument cluster product Automotive HMI segment secured the leading position across the global market for Automotive Human-Machine Interface (HMI) in 2021. On the contrary, the share will fall around the forecast period, driven by growing demand for HUDs, lowering reliance on instrument clusters. However, the high costs associated with HUDs and displays assist in stabilizing demand for instrument clusters.
Among all the technologies, the visual technology segment secured the leading position across the global market for Automotive Human-Machine Interface (HMI) in 2021. The main parameters supporting the segment's development are carmakers' increasing focus on eliminating distractions, growing demand for convenient features, & adaptive solutions.
Among all the types, the standard HMI segment secured the leading position across the global market for Automotive Human-Machine Interface (HMI) in 2021. The main parameters supporting the segment's development are the growing demand for autonomous vehicles and the enhancement of the safety and comfort features of the vehicle.
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Automotive Human-Machine Interface (HMI) Market Regional Analysis
The research documents by MRFR indicate that the Asia-pacific Region carried a leading position across the global Automotive Human-Machine Interface (HMI) industry in 2021 with a maximum contribution of around USD 2.39 billion. India, China, and Indonesia are the leading development contributors in the region. Further, the China Automotive Human-Machine Interface (HMI) Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is increased consumer concern about safety and security features. Furthermore, the rising adoption of superior interiors for automobiles across the region is also considered to be one of the crucial parameters enhancing the regional market's growth over the assessment period.
The European Region is anticipated to secure the second position across the global Automotive Human-Machine Interface (HMI) industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Automotive Human-Machine Interface (HMI) Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The main aspect supporting regional market expansion is that the region is considered home to many leading car manufacturers and countries such as Italy, France, and Germany. Furthermore, the rising popularity of EVs is also projected to positively influence the development of the regional market over the review timeframe.
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The North American region is anticipated to hold a powerful position across the global Automotive HMI industry over the coming years. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Automotive Human-Machine Interface (HMI) Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the surge in the import of passenger vehicles & commercial vehicles with automotive human-machine interface (HMI) systems from the European region. Furthermore, the rising popularity of electric vehicles is also considered to positively impact the growth of the market.
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