Yahoo Finance Automotive HMI Market Predicted to Garner USD 10,710 Million by 2030, Growing at a CAGR of 8.80% - Report by Market Research Future (MRFR)
Rising Demand for Enhanced In-Vehicle Experience Boosts the Automotive HMI Market
New York, US, Aug. 10, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automotive HMI Market Analysis by Product, Technology, Access Type (Standard HMI, Multimodal HMI), Vehicle Types - Global Industry Forecast To 2030” valuation is poised to reach USD 10,710 million by 2030, registering an 8.80% CAGR throughout the forecast period (2022–2030).
Automotive HMI Market Overview
Augmenting demand for connected cars and safe & secure mobility boosts the market size. The market is gradually picking up with the growing automobile sectors worldwide and is anticipated to grow exponentially in the years to come.
Automotive HMI Market Report Scope:
Report Metric | Details |
Market Forecast By 2030 | USD 10710 Million |
CAGR 2022 to 2030 | 8.80% |
Base Year | 2021 |
Forecast Period | 2022 - 2030 |
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The automotive HMI market witnesses a steady rise with the emergence of driverless cars and autonomous driving. Besides, new product development and technological advancements positively impact the market value. The automotive industry is estimated to undergo a momentous shift through the technological revolution. Rapid developments in embedded sensors & smart systems boost market revenues.
The vehicle-human interface has evolved significantly with the advent of smart, interconnected, and autonomous mobility. Today, automotive HMI solutions improve in-vehicle comfort & convenience and provide personalized experiences. Advanced HMI solutions simplify information processing to make monitoring simple, intuitive, and dependable. It improves vehicle safety, helping drivers with critical information requiring driver attention.
Automotive Human-Machine Interface (HMI) enables drivers and passengers to interact with the vehicles inside and outside environment. These solutions improve driving experiences by allowing interaction with voice-enabled vehicle infotainment, multi-touch dashboards, control panels, built-in screens, and other features. With growing technology trends, automobile users are increasingly demanding more and more features.
They prefer solutions that enable the vehicle to respond to their intent and preferences. Auto owners are more concerned about in-vehicle interfaces than aesthetics or engine power. Most prefer a vehicle that makes their lives easier with electronic control compatible with their smartphone apps. The latest trending HMI technologies include a head-up display, occupant detection, keyless entry, and power seat control.
Automotive HMI Market Segments
The automotive HMI market is segmented into product, technology, access types, vehicle types, and region. The product segment is bifurcated into voice control, central display, instrument cluster, HUD, and others. The technology segment is bifurcated into visual, acoustic, and others.
The access type segment is bifurcated into standard HMI and multimodal HMI. The vehicle type segment comprises passenger and commercial vehicles. By regions, the market is sub-bifurcated into the Americas, Asia-Pacific, Middle East & Africa, Europe, and the rest of the world.
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Automotive HMI Market Regional Analysis
APAC dominates the global automotive HMI market. Increased demand for HMI in high-end vehicles and undisrupted internet connectivity inside vehicles drive the market growth. Significant technological advances and the strong presence of various connected mobility solution providers in the region influence the automotive HMI market share.
Also, the increased disposable income boosts the market size, resulting in increased vehicle sales and growing demand for in-vehicle HMI. Due to favorable government policies, China, India, and Japan have become manufacturing hubs for automakers. Numerous automotive OEMs and mobile network operators (MNOs) are collaborating to enhance the connected living experience for users while driving.
Industry Trends
Key factors bolstering the market revenues include the rising preference for connected cars and high-end automobiles among users and increasing sales of vehicles. Touch-less interfaces and voice and gesture-controlled infotainment systems are expected to achieve the fastest customer appeal.
Personalization features such as rear entertainment systems, smartphone integration, and mobile/web integration drive the market demand. Attractive advantages of driverless cars and automated driving, such as increased safety, comfort owing to smooth interaction between the automobile and occupants, ease of use, and others, substantiate the market demand.
Growing sales of high-end vehicles and government mandates to promote safe, connected cars, electric vehicles, and autonomous vehicles boost the market share. Also, the growing demand for improved connectivity to enhance the driving experience pushes the market demand. Additionally, rising technical expertise and enormous investments in developing HMI technologies are other key trends observed in the market.
Vast advances in digital technology and increasing demand for integrated & embedded connectivity positively impact the market growth. Despite demonstrating major growth prospects, the market witnesses major setbacks, such as the lack of awareness of HMI systems. Nevertheless, the spurring rise in automobile industries and technological advancements would support the market growth throughout the assessment period.
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Automotive HMI Market Competitive Analysis
Highly competitive, the automotive HMI market appears fragmented with the presence of several well-established players. They strive to develop automotive HMI expertise that can shorten driver response time and improve human-vehicle interaction, using their years of experience and interface solutions. They work on improving their capabilities in consulting, design, implementation, verification, and maintenance of automotive-grade software solutions.
To market their products, industry players participate in trade shows to demonstrate their software development services at International Consumer Electronics Show (CES). These players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launches to gain a larger competitive share.
For instance, on June 2, 2022, Bosch SDS announced a partnership with Rightware to enable automotive OEMs to design and realize next-generation user experiences, combining HMI services using engineering and global delivery capabilities Kanzi toolchain and Bosch HMI Center of Excellence. The partnership will position Bosch HMI CoE in a leading position in the global automotive HMI market, expected to continue its growth trajectory.
Rightware is a leading automotive graphics software provider with a global footprint. The Bosch HMI CoE caters to premium OEMs worldwide with UX and HMI software engineering for multiple domains, including automotive instrument clusters, convergence systems, infotainment systems, HUD & RSE systems in the cockpit, and other multimedia products.
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Dominant Key Players on Automotive HMI Market Covered are:
Denso Corporation (Japan)
Delphi Automotive PLC (UK)
Synaptics Incorporated (US)
Magneti Marelli S.p.A. (Italy)
Continental AG (Germany)
Altran Technologies
SA (France)
Alpine Electronics Inc. (Japan)
Visteon Corporation (US)
Robert Bosch (Germany)
Valeo SA (France)
Luxoft Holding
Inc. (Switzerland)
Voicebox Technologies (US)
Clarion Co. Ltd. (Japan)
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