8:07 AM Automotive Human Machine Interface (HMI) Market Size to experience an impressive growth of 12.3% during 2020-2025 |
Automotive HMI market is likely to witness an impressive CAGR of 12.3% during the forecast period. The growth in the demand for convenient features and improved user experience coupled with the rising demand for connected vehicles in the automobile industry are some of the major factors that are underpinning the growth of the automotive HMI market globally.
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By Product Type: Based on the product type, the market is segmented as voice control systems, central displays, instrument clusters, steering mounted controls, head-up displays (HUD), rear seat entertainment (RSE) displays, and multi-function switches. HUD is expected to witness the fastest growth owing to the factors, such as, increasing focus of OEMs and HMI manufacturers towards installation of HUD in mid-range vehicles. At present, HUD is at a nascent stage and is incorporated only in luxury vehicles. By Technology Type: Based on the technology type, the market is segmented as visual interface, acoustic interface, and others. The visual interface technology is estimated to be the largest market in the automotive human machine interface market during the forecast period. Innovation in consumer electronic system, integration of major interfaces in display system, and consumer inclination are among the major factors that have led to the dominance of the visual interface technology. By Access Type: Based on the access type, the automotive HMI market is segmented as Standard HMI and Multi-Modal HMI systems. The Multi-Modal HMI system is projected to be the fastest-growing segment during the forecast period. This unparalleled growth is owing to the enrichment of safety features and the mounting demand for connected vehicles. By Vehicle Class Type: Based on the vehicle class type, the market is segmented as economic passenger cars, mid-priced passenger cars, and luxury passenger cars. The mid-priced passenger cars segment is expected to dominate the market during the forecast period. Emerging trend towards enhancement of user experience inside the vehicle through advanced HMI functions such as touch based infotainment units, haptic controls, and Rear Seat Entertainment (RSE) displays, along with reducing driver distraction are the major factors that have led to the dominance of mid-priced passenger cars in the global automotive HMI market. By Region: In terms of region, Asia-Pacific is expected to remain the largest market for the automotive HMI in the coming five years. Significant economic development in the region has led to increasing disposable income of consumers in the emerging economies, such as China and India. This factor has led to the strong production and sales of passenger cars in the region.
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