Global automotive human machine interface market is anticipated to depict a CAGR of 12% through 2024, having recorded a valuation of USD 11 billion in 2017. By 2024, the market is expected to hit a remuneration of USD 27 billion.
Increasing awareness among the regulators and regional governments about the surging need for vehicle security and safety has been driving the requirement of the instrument clusters and digital infotainment systems. The policymakers claim that the implementation of a human-machine interface will help the driver collect accurate information about the surrounding environment. In order to comply with the stringent regulatory compliances, most of the automakers, technology companies, manufacturers, and designers have been striving to innovate advanced solutions for passenger vehicles and connected cars. Indeed, passenger vehicles are expected to account for nearly 80% share of automotive human machine interface market by the end of 2024.
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Global automotive human machine interface market is growing on the back of towering consumer demand for latest vehicle infotainment systems and automotive manufacturers focusing on technology improvement. Exponentially augmenting demand for luxury cars, improved safety, and rising emphasis on driver comfort are further propelling automotive human machine interface industry trends.
As of now, motorcycle manufacturers have also been integrating HMI technology in the vehicle for improving performance, driving experience, and safety. Few weeks before, the British electric motorbike manufacturer had launched a fully electric motorcycle with human-machine interface. The evolution of e-bikes for promoting high performance and energy security is poised to have a considerable impact on the demand for HMI. In addition, considering the future energy benefits and depleting fossil fuel resources, most of the regional governments have been implementing a supportive regulatory framework to enhance the deployment of e-vehicles that also will fuel the product demand.
However, with the advent of new technology trends, the overall design structure of automobiles has changed considerably, paving the way for integrated human-machine interface in vehicles. The development of connected cars for decreasing the chances of accidents and enhancing the operability of vehicles has also helped propel automotive human machine interface market share.
The surging use of digital technology in vehicles for achieving better performance and sustainability will transform the future of the automotive industry. The extensive utilization of software for enabling numerous operational packages comprising functional safety, cybersecurity, and infotainment system will also stimulate industry trends.
North America automotive human machine interface market is likely to procure a market share of more than 20% by 2024. North America region has witnessed noteworthy proliferation of connected and autonomous cars in recent years, which is favoring automotive human machine interface industry trends in the region. Given the affinity of regional automakers towards latest technologies, OEMs are incorporating next-gen technologies to improve infotainment & communication experiences in vehicle. Moreover, vendors in the automotive HMI space are focused on introducing new technology enabled platforms and are investing heavily on the same.
Asia pacific automotive human machine interface market is slated to register the highest CAGR of 15% by 2024. Asia pacific automotive human machine interface industry is also likely to showcase noteworthy expansion in the coming years. Increased demand for high-end cars in the developing countries such as China and India have prompted regional OEMs to integrate sophisticated technologies in vehicles to cater to the augmenting consumer demand for an enhanced in-vehicle experience. Additionally, automobile companies in the region are directing substantial R&D efforts towards the development of various vehicle technologies such as ADAS and autonomous driving, which is estimated to fuel market size.
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Some Point from Table of Contents:
Chapter 5. Automotive Human Machine Interface Market, By Product
5.1. Key trends, by product
5.2. Instrument cluster
5.2.1. Instrument cluster market estimates and forecast, 2013-2024
5.3. Multifunction switches
5.3.1. Multifunction switches market estimates and forecast, 2013-2024
5.4. Steering-mounted controls
5.4.1. Steering-mounted controls market estimates and forecast, 2013-2024
5.5. Central display
5.5.1. Central display market estimates and forecast, 2013-2024
5.6. Rear seat entertainment display
5.6.1. Rear seat entertainment display market estimates and forecast, 2013-2024
5.7. Head-up display
5.7.1. Head-up display market estimates and forecast, 2013-2024
Chapter 6. Automotive Human Machine Interface Market, By Interface Type
6.1. Key trends, by interface type
6.2.1. Visual interface market estimates and forecast, 2013-2024
6.3.1. Acoustic interface market estimates and forecast, 2013-2024
6.4.1. Mechanical interface market estimates and forecast, 2013-2024
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