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Automotive HMI Market to Generate Revenue Worth $29.6 Billion by 2023

Published Date:   February 2018

The global automotive human-machine interface (HMI) market was valued at $13.9 billion in 2017, and it is expected to register revenue of $29.6 billion in 2023, exhibiting a CAGR of 13.8% between 2018 and 2023. Based on product, touch screen displays contributed the highest revenue to the market in 2017.

HUD is expected to be the fastest-growing category in the automotive HMI market during the forecast period. On account of the rising emphasis on reducing driver distraction, most of the carmakers are focusing on integrating HUDs in their mid-priced vehicles as well.

Innovative HMI Development is a Major Trend in the Market

Players operating in the automotive HMI market are increasingly investing in the improvement of such systems to deliver better consumer convenience, which is the biggest trend in the market. The increasing adoption of these systems and rising government impetus for improved in-vehicle safety are projected to spur the demand for such systems in the next few years. Some of the enhancements include the advent of innovative display technologies that are highly dynamic and adaptable and improved dashboard layout flexibilities.

Rising In-Vehicle Connectivity is Driving the Growth of the Market

People wish to stay connected with the outside world even while traveling. In the near future, automobiles too would increasingly become more connected with the world around them through cloud services. Responding to the changing customer preferences, automotive manufacturers, through partnerships with IT or consumer electronics vendors, are increasingly integrating in-vehicle connectivity features in infotainment systems. Therefore, the automotive HMI market is expected to witness considerable growth, driven by the increasing consumer preference for staying connected to the internet while traveling.

Segmentation Analysis of Automotive HMI Market

Automotive HMI Market

  • The HUD category generated the fastest growth in the automotive HMI market during the historical period, in terms of product. Steering-mounted controls are expected to contribute the largest sales volume during the forecast period. This can be attributed to the fact that the majority of passenger cars in developed as well as developing markets are nowadays equipped with steering-mounted controls. Strict government regulations against in-car mobile phone usage are also propelling the demand for these controls.
  • In terms of interface, visual interface generated the highest revenue in the global automotive HMI market during the historical period. This category is also expected to see significant growth during the forecast period, which is attributed to their increasing adoption in medium cars.

Geographical Analysis of Automotive HMI Market

Asia-Pacific (APAC) contributed the highest revenue to the automotive HMI market during the historical period, followed by Europe and North America. APAC is home to emerging economies, such as China and India, along with developed economies, such as Japan, all of which are among the largest markets for automobiles in the world. In recent years, the region has emerged as a center for automobile production. Continuous infrastructure development, coupled with industrialization in emerging economies, has opened new avenues, thereby creating several growth opportunities for automotive OEMs in the region. 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 growing customer preference for automotive HMI features.

Competitive Landscape of Automotive HMI Market

The automotive HMI market is highly fragmented due to the presence of a number of regional and global players. Some of the major players operating in the market are Panasonic Corporation, Robert Bosch GmbH, Delphi Automotive PLC, DENSO Corporation, Continental AG, Texas Instruments Inc., Visteon Corporation, Alpine Electronics Inc., EAO AG, and Yazaki Corporation.

In recent years, numerous market players have involved in several strategic developments, such as mergers and acquisitions, partnerships, product launches, and client wins, to gain a competitive edge in the automotive HMI market. For instance, in October 2017, Delphi Automotive PLC acquired autonomous driving technology startup, NuTonomy, in a $450 million deal. NuTonomy, which has autonomous driving fleets in Singapore and Boston, plans to launch commercial self-driving taxi service in Singapore in 2018.

Access Report Summary with Detailed TOC on "Automotive Human Machine Interface (HMI) Market by Product (Instrument Clusters, Central Display, HUD, Voice Control System, Steering Mounted Controls, RSE Display, Multifunction Switches), by Technology (Visual Interface, Mechanical Interface, Haptic Interface, Acoustic Interface, Others), by Access Type (Multimodal, Standard), by End-Use (Mid-Price Passenger Cars, Luxury Passenger Cars, Economic Passenger Cars) – Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" at: https://www.psmarketresearch.com/market-analysis/automotive-hmi-market

Additionally, in January 2018, major automotive HMI market player, Visteon Corporation, and China Automotive Engineering Institute signed a strategic cooperation agreement for the development of autonomous vehicles and cockpit electronics, using Visteon’s DriveCore technology showcased in CES 2018, on a vehicle platform planned to be launched in 2020. As per the agreement, both the companies would explore the opportunities in instrument clusters, touch screen displays, heads-up displays, and domain controllers, using Visteon’s DriveCore technology platform.

GLOBAL AUTOMOTIVE HMI MARKET SEGMENTATION

By Product

  • Instrument Cluster
  • Touch screen display
  • HUD
  • Steering mounted controls
  • RSE
  • Multifunction switches

By Interface

  • Visual
  • Mechanical
  • Acoustic

By Access

  • Multimodal HMI
  • Standard HMI

By End-Use

  • Economy
  • Medium
  • Premium

By Geography

  • North America
    • By Product
    • By Interface
    • By Access
    • By End-use
    • By Country - U.S., Mexico, Canada, and Rest of North America
  • Europe
    • By Product
    • By Interface
    • By Access
    • By End-use
    • By Country - Germany, U.K., France, Italy, and Rest of Europe
  • Asia-Pacific
    • By Product
    • By Interface
    • By Access
    • By End-use
    • By Country - China, Japan, India, South Korea, and Rest of Asia-Pacific
  • Rest of the World
    • By Product
    • By Interface
    • By Access
    • By End-use
    • By Country - Brazil, GCC, and Others