LOS ANGELES, June 18, 2021 (GLOBE NEWSWIRE) -- The Global Automotive Human Machine Interface Market is expected to grow at a CAGR of around 12.2 % from 2020 to 2027 and reach the market value of over US$ 28.5 Bn by 2027.
The Asia Pacific region dominates the global automotive human machine interface market. The rapid expansion of the automotive industry in countries such as China, India, Japan, and South Korea is a major factor driving the Asia Pacific automotive human-machine interface market. Increased vehicle sales, ongoing developments in connected vehicle technologies, and favorable changes in vehicle safety regulations are driving demand for automotive HMI systems in Asia Pacific.
North America, on the other hand, is expected to grow rapidly during the forecast period for the automotive human machine interface market. This is due to increased investments by major automakers in the development of self-driving cars, increased adoption of automotive IoT, and a consistently growing demand for luxury passenger cars in the region, particularly in the United States.
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Europe is the market leader in the automotive human machine interface market. The presence of a large number of major luxury and passenger manufacturers, such as Volkswagen, BMW, Porsche, and Audi, is expected to accelerate innovation in the HMI landscape over the forecast timeline.
Market Drivers
Automobile safety has become a major concern as the number of traffic accidents on the road increases around the world. As a result, manufacturers are incorporating connected technology-enabled devices that convey vehicle and surrounding related information to the driver and flawlessly interpret the driver's input commands. Technologies such as the interactive instrument cluster and heads-up display allow drivers to view all pertinent vehicle and navigation information without taking their eyes off the road. This reduces the likelihood of an accident and improves safety. As a result, the benefits of safety are propelling the human-machine interface market around the world.
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People's disposable income has increased, raising their standard of living, which has fueled demand for luxury goods, including premium vehicles. These vehicles have multi-information displays, swipe and gesture functions, and speech recognition, among other technologies, to provide personalized interactions to the driver and co-passengers. This increase in premium vehicle sales is propelling the global automotive human-machine interface market even further.
Segmental Outlook
The global automotive human machine interface market is segmented as product type, interface type, vehicle type, and access type. Product type is segmented based on instrument cluster, multifunctional switches, steering mounted controls, central display, rear seat entertainment display, and head-up display. By interface type, the market is segmented as visual, acoustic, and mechanical. By vehicle type, the market is bifurcated into passenger vehicle and commercial vehicle. By access type, the market is classified into standard interface and multimodal interface.
Competitive Landscape
Companies in the global automotive HMI market are focusing on new product development and product innovations in order to design and commercialize advanced HMIs that enable greater interconnectivity among different HMI components. In accordance with this strategy, these companies are collaborating to leverage their mutual expertise. Key companies profiled in this report involve Continental AG, Aptiv plc, Valeo, Synaptics, Clarion Co., Ltd., Magneti Marelli S.p.A, Visteon Corporation, and among others.
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Some of the key observations regarding the automotive human machine interface industry include:
- In January 2020, Carmaker Subaru announced that it will be including a Human machine interface in its next car Levorg. The company is currently using the HMI system in model such as legacy, the HMI system is developed by Denso and blackberry jointly, with this announcement from the carmaker it is expected that denso will be getting another big offer from Subaru for the Human machine interface system. This deal will enhance the revenues of the company.
- In December 2017, Denso Corporation, one of the leading providers of innovative HMI solutions, announced a collaboration with BlackBerry Limited to develop an integrated HMI platform. The platform developed using BlackBerry’s QNX Hypervisor for virtualization along with the Intel Atom processor A3900 series, enables different HMI products to cooperate with appropriate timing for enabling timely response.
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