USD 28.13 billion
Report ID: SQSG25A2008 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 63 | Figures: 67
Automotive HMI Market size was valued at USD 28.13 billion in 2021 and is poised to grow from USD 31.49 billion in 2022 to USD 86.82 billion by 2030, growing at a CAGR of 11.93% in the forecast period (2023-2030).
The desire for high-end goods like luxury cars is being fueled by a high level of life and increased disposable income. This will probably lead to a rise in the use of automobile HMI. However, a significant market restraint is the need for urgent maintenance of the intricate systems that support the operation of automobile HMI. Contrarily, market participants are predicted to benefit from the increased demand for autonomous vehicles.
The demand for automotive HMI is continually growing as a result of the expanding use of gestures for improved human-car interactions. The market is growing rapidly as a result of the increasing adoption of the Internet of Things (IoT). Through the development of new UX solutions for multimodal experiences, the market's commercialization options for new goods are projected to grow. The market share for automotive HMI is projected to expand as a result. The changing connectivity tendencies in contemporary, high-end vehicles are another source of lucrative opportunities. For instance, including OTA updates and vehicle-to-everything (V2X) trends.
Low cost human-machine interfaces can enable software and smartphone integration with automobiles. This is a crucial factor that is fueling market expansion. Additionally, fleet management necessitates widespread use of advanced driver assistance systems (ADAS), which increases demand for the product and is expected to grow the market. It is projected that the introduction of concept cars and electric vehicles in the automotive industry, as well as the rapid expansion of mobility services, will present the market with a variety of potential prospects. The development of the automotive HMI industry is also going to be aided by the adoption of various technologies. However, the high costs of complex HMI systems and their high power consumption are factors that are anticipated to impede the market share's rise. The prominence of cyber security concerns presents another difficulty for the sector.
US Automotive HMI Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 28.13 billion
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The Global automotive HMI market is segmented based on product, technology, access type, and vehicle type. On the basis of product, the market is further sub-segmented into voice control, central display, instrument cluster, head-up display (HUD), others. On the basis of technology, the market is further sub-segmented into visual, acoustic, and others. On the basis of access type, the market is further sub-segmented into standard HMI and multimodal HMI. On the basis of vehicle type, the market is further sub-segmented into passenger cars and commercial vehicles.
Automotive HMI Market Analysis based on product type
The market is divided into Instrument Cluster, Head-up Display, Central Display, and Others based on product. Due to the increasing use of smart and connected central displays in passenger cars, the central display segment dominated the market in terms of revenue throughout the anticipated period. The use of mobile phones while driving is prohibited, and the incorporation of wireless communication systems into these displays will spur growth during the forecast period. Additionally, it is anticipated that the HUD category would grow significantly during the projection period as a result of the growing use of HUD in luxury and mid-sized vehicles. The installation of HUD in mid-size vehicles and the increased emphasis on reducing driver distraction are further factors that are anticipated to fuel the global market's expansion.
Automotive HMI Market Analysis based on Technology
The market is divided into Acoustic, Mechanical, Visual Interfaces, and Others based on technology. During the anticipated time, the visual interface technology segment will rule the worldwide automotive HMI market. This dominance is due to rising consumer demand for practical features, adaptive technologies, and automakers' increasing emphasis on reducing driver distractions by providing visual interfaces like instrument clusters and touch-screen displays.
Automotive HMI Market Analysis based on End Use
The market is divided into three segments based on the end-user: economical passenger cars, midrange passenger cars, and luxury passenger cars. Due to the growing popularity of advanced HMI features inside vehicles, such as touch-based infotainment systems, haptic controls, and rear-seat entertainment (RSE) displays, as well as efforts to lessen driver distraction, the mid-priced passenger car segment is anticipated to dominate the global Automotive HMI Market during the projected period.
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The market in North America has been successful. The adoption of cutting-edge automobile HMIs in the United States has fueled the regional market expansion. The expansion of luxury vehicle producers and the rising popularity of these cars among consumers have contributed to the stability of companies in the North American automotive human-machine interface (HMI) industry. The most opportunistic segment, on the other hand, is anticipated to be Europe during the projected period. The leading automotive producers worldwide are France, Italy, and Germany. These nations have made a significant contribution to the expansion of the automotive human-machine interface (HMI) sector in Europe. During the projection period, the market expansion for the automotive human-machine interface (HMI) would be aided by the upsurge in the popularity of electric vehicles in European nations.
In contrast, Asia Pacific dominated the global automotive human-machine interface (HMI) market in 2021. The advancements being made in the automotive and auto industries in the region, particularly in China, Japan, South Korea, and India, will open up a number of new revenue streams for regional market participants. Another important factor supporting the expanding market potential in the area is the strict enforcement of regulatory standards regarding the safety of drivers.
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Automotive HMI Market Driver
Automotive HMI Market Restraint
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The market for automobile human-machine interfaces (HMI) has a fair amount of regional competition. By using various marketing techniques, including the launch of new products, investments, collaborations, and mergers and acquisitions, these market participants aim to increase their market share. Additionally, businesses are investing in the creation of enhanced items. Additionally, they are concentrating on offering competitive prices.
Automotive HMI Market Top Player’s Company Profiles
Automotive HMI Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the increasing central display, and the visual interface technology dominated the global Automotive HMI market in 2021 and are expected to maintain their dominance throughout the forecast period. In 2021, North America dominated the global Automotive HMI market owing to the region's highly aware and economically stable population.
|Market size value in 2021||USD 28.13 billion|
|Market size value in 2030||USD 31.49 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Automotive HMI Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive HMI Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive HMI Market:
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Automotive HMI Market is projected to reach USD 67.68 Billion by 2030, growing at a CAGR of 10.96% from 2023 to 2030.
On the basis of technology, Automotive HMI Market is segmented into Visual Interface, Acoustic, Mechanical and Others.
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Product ID: SQSG25A2008