The global Automotive Human Machine Interface Market is expected to grow at a CAGR of 12% through 2024, after registering a valuation of USD 11 billion in 2017. By 2024, the market is expected to reach a remuneration of USD 27 billion .
The growing awareness of regulators and regional governments of the growing need for vehicle safety and security has led to the requirement for digital instrument clusters and infotainment systems. The makers claim that the implementation of a human-machine interface will help the driver to collect accurate information about the surrounding environment. In order to comply with the strict regulations, most automakers, technology companies, manufacturers and designers have been scrambling to innovate advanced solutions for passenger vehicles and connected cars. Indeed, passenger vehicles are expected to account for almost 80% of the automotive human-machine interface market by the end of 2024.
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The global automotive human-machine interface market is growing due to high consumer demand for the latest vehicle infotainment systems and automakers focusing on improving the technology. The exponential rise in demand for luxury cars, improved safety, and increasing emphasis on driver comfort are further propelling automotive human-machine interface industry trends.
From now on, motorcycle manufacturers have also integrated HMI technology into the vehicle to improve performance, driving experience and safety. A few weeks earlier, the British electric motorcycle manufacturer had launched a fully electric motorcycle with a human-machine interface. The evolution of e-bikes for promoting high performance and energy security is poised to have a huge impact on HMI demand. Moreover, considering the future energy benefits and the depletion of fossil fuel resources, most regional governments have put in place a favorable regulatory framework to enhance the deployment of electric vehicles which will also fuel the product demand.
However, with the advent of new technological trends, the overall design structure of automobiles has changed significantly, paving the way for an integrated human-machine interface in vehicles. The development of connected cars to reduce the risk of accidents and improve vehicle operability has also helped propel the market share of automotive human-machine interface.
The increasing use of digital technology in vehicles to improve performance and durability will transform the future of the automotive industry. Extensive use of software to enable numerous operational packages including functional safety, cyber security and infotainment system will also drive the industry trends.
The automotive human-machine interface market in North America is expected to account for a market share of over 20% by 2024. The North America region has seen a notable proliferation of connected and autonomous cars in recent years, which which promotes automotive human-machine interface industry trends in the region. . Given regional automakers’ affinity for the latest technology, OEMs are integrating next-generation technologies to enhance in-vehicle infotainment and communication experiences. Additionally, vendors in the automotive HMI space are focusing on introducing new technology platforms and investing heavily in them.
Automotive Human Machine Interface Market in Asia-Pacific is expected to register the highest CAGR of 15% by 2024. Automotive Human Machine Interface industry in Asia-Pacific is also expected to witness notable expansion in the years to come. Increased demand for premium cars in developing countries such as China and India has prompted regional OEMs to integrate sophisticated technologies into vehicles to meet growing consumer demand for an enhanced in-car experience. Additionally, automakers in the region are devoting substantial R&D efforts to developing various vehicle technologies such as ADAS and autonomous driving, which are expected to fuel the market size.
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A few points from the 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. Multi-Function Switches Market Estimates and Forecasts, 2013-2024
5.4. Steering wheel controls
5.4.1. Steering wheel controls market estimates and forecast, 2013-2024
5.5. Center display
5.5.1. Central Display Market estimates and forecast, 2013-2024
5.6. Rear seat entertainment screen
5.6.1. Rear Seat Entertainment Displays Market Estimates and Forecasts, 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. Main trends, by type of interface
6.2. Visual
6.2.1. Visual Interfaces Market Estimates and Forecasts, 2013-2024
6.3. Acoustic
6.3.1. Acoustic Interfaces Market Estimates and Forecasts, 2013-2024
6.4. Mechanical
6.4.1. Mechanical Interfaces Market Estimates and Forecasts, 2013-2024
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