MarketResearchReports.com: Human Machine Interface (HMI) Solutions Market Expected to Reach $40 Billion by 2028

Continental AG, Valeo SA and Visteon Corporation together control 38% of the global market for the human-machine interface (HMI) industry

LEWES, DELAWARE, USA, June 27, 2022 /EINPresswire.com/ — The Global Automotive Human-Machine Interface (HMI) Solutions Market has a total revenue of USD 15125 M in 2016 and increased to USD 19330 M in 2021. We study the development law of the market in recent years and establish a data model to analyze and infer future development of the market. Finally, we made the prediction that the value of Automotive Human-Machine Interface (HMI) Solutions Markets could be USD 40035 M by 2028. The CAGR of Automotive Human-Machine Interface (HMI) Solutions is by 11% from 2021 to 2028.

An automotive human-machine interface is a simple interaction between automotive computer software and humans. With increasing finesse, the human has more opportunities to control more vehicle functionality. The automotive human-machine interface can be a visual interface, an acoustic interface, and many other forms.

Voice control systems, instrument clusters, head-up displays, multi-function switches, center displays, steering wheel controls and rear seat entertainment displays are some of the items running under the system. The automotive human-machine interface makes it easier for drivers and passengers to communicate with their vehicles through smart features such as voice, touchscreens, buttons, rotary controls, swipe and gestures, and even the voice recognition technology.

Distraction-free human-machine interface features make the user experience more comfortable and convenient. Additionally, various automakers are focusing on implementing multi-information displays in cars to divide information according to driver and passenger relevance. The system also allows users to customize software functionality to enhance interaction with 2D and 3D graphics and the pilot’s augmented reality systems. This increase in the prevalence of autonomous and connected vehicles is expected to drive the global automotive human-machine interface market over the forecast period.

China was the largest revenue market with a market share of 27% in 2016 and 28% in 2021, an increase of 1%. In 2021, Europe’s market share was 18%, ranking second. With the improvement of the economic level, the downstream demand continues to grow, and the technological level of these regions continues to improve, which will further promote the development of the market.

Industry concentration is high. The top three companies are Continental AG, Valeo SA and Visteon Corporation with a market share of 15%, 13% and 9% in 2021.

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