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Increasing Popularity of In-Vehicle Connectivity Propelling Global Demand for Automotive HMI Solutions

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Increasing Popularity of In-Vehicle Connectivity Propelling Global Demand for Automotive HMI Solutions

June 08
14:10 2021
Increasing Popularity of In-Vehicle Connectivity Propelling Global Demand for Automotive HMI Solutions
The global automotive human–machine interface market is predicted to advance at a CAGR of 10.8% between 2020 and 2030.

More than 1.35 million people die in road accidents each year, says the World Health Organization (WHO). This factor is expected to drive the global automotive human machine interface market to $55,318.4 million in 2030, from $18,822.3 million in 2019, at a 10.8% CAGR between 2020 and 2030. Most of the accidents are caused by human errors, such as unsafe distance from the vehicles in the front, over-speeding, and not paying attention to the road.

Due to the COVID-19 pandemic, the growth of the automotive HMI market has been negatively affected, as the production of vehicles, as well as HMIs and their related components, has stopped, especially in China. Moreover, a large number of people have become unemployed, due to the shutdown of major industrial and commercial operations, which is why the demand for automobiles has significantly dipped.

Automotive HMI Market Segmentation Analysis

The voice recognition system category, on the basis of product, would observe the highest CAGR in the automotive HMI market, in terms of value, during this decade. This is attributed to the rising penetration of autonomous (level 2 at least) and connected vehicles, as a result of the rising safety concerns and disposable income. Voice recognition systems help drivers in operating a device or perform tasks just by speaking, without having to take their eyes off the road and hands off the steering and gearstick.

Download report sample at: https://www.psmarketresearch.com/market-analysis/automotive-hmi-market/report-sample

During 2014–2019, the visual interface category, based on interface, held the largest share in the automotive HMI market, in terms of volume as well as value. This was a result of the high demand for adaptive solutions and convenient features in vehicles. Additionally, with the rising focus on reducing the distractions for drivers, touch-screen displays, instrument clusters, and other types of visual interfaces are being quickly integrated n automobiles.

In the coming years, the highest value CAGR, of 10.9%, in the automotive HMI market, under the end use segment, is expected to be witnessed in the mid-priced cars category. This would be a result of the high sale of mid-priced passenger cars in Asia-Pacific (APAC), as the disposable income here is not as high as in North America or Europe. With the rising demand for HMIs and safety features in these cars in the region, which is the largest automobile market in the world, the category will keep growing.

APAC held the largest volume share in the automotive HMI market in the past, due to the rising disposable income of regional inhabitants, which is leading to an increase in the uptake of passenger cars, including those equipped with HMIs. During the forecast period, the market is expected to witness the fastest growth in North America, due to the increasing sales of premium cars in the U.S. and surging customer preference for automotive HMIs.

Browse full report at: https://www.psmarketresearch.com/market-analysis/automotive-hmi-market

Mergers, Acquisitions, and Joint Ventures Dominate Competitive Landscape

The competition in the automotive HMI market is characterized by acquisitions, mergers, and joint ventures, as the companies operating in the domain are looking to:

• Develop software to govern the engine control unit (ECU) of vehicles
• Offer secure and affordable automotive applications
• Provide their solutions to major luxury car makers
• Combine their knowledge of artificial intelligence, edge-computing, cockpit system integration, cloud-based services, and consumer insights
• Create over-the-air (OTA) systems for wirelessly updating automotive software from a remote location

The major players in the global automotive HMI market are Valeo SA, Visteon Corporation, DENSO CORPORATION, Continental AG, HARMAN International Industries Inc., EAO AG, Robert Bosch GmbH, YAZAKI Corporation, Nippon Seiki Co. Ltd., and Panasonic Corporation.

Browse Other Related Reports

India Automotive HMI Market – https://www.psmarketresearch.com/market-analysis/india-automotive-hmi-market

 

Automotive Over-The-Air Updates Market – https://www.psmarketresearch.com/market-analysis/automotive-over-the-air-ota-updates-market

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Website: https://www.psmarketresearch.com/market-analysis/automotive-hmi-market


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