Automotive Human Machine Interface (HMI) Market Size to Record 11.55% CAGR Over 2023-2030; Varroc Signed MoU With Candera GmbH to Share HMI Tech for Former’s TFT Instrument Cluster
Pune, India., Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global automotive Human Machine Interface (HMI) market size was valued at USD 21.40 billion in 2022 and is expected to be worth USD 23 billion in 2023. The market is projected to reach USD 49.43 billion by 2030, recording a CAGR of 11.55% during the forecast period. An automotive Human Machine Interface (HMI) is a combination of design elements and advanced technologies that enable seamless interaction between humans and vehicles. HMI systems can enhance the driving experience of users by offering immersive and interactive communication solutions. They can also increase the driver’s safety by showing vital information in their field of view. These characteristics will help the automotive Human Machine Interface (HMI) market share grow.
Market Drivers & Restraints-
High Driver Safety Offered by HMIs to Boost Their Adoption
An automotive Human Machine Interface (HMI) system, with the help of in-car sensors, offers drivers real-time Augmented Reality experience with a Head-Up Display (HUD). An HUD helps the driver visualize the movement of other vehicles on the road, which can significantly increase their safety. These displays also help the driver stay more focused, thereby mitigating the risk of accidents. However, lack of robust cybersecurity technologies in HMI systems can hamper the market progress.
Key Market Players to Focus On Acquisitions and Partnerships to Remain Competitive
Some of the companies dealing in the production of Automotive Human Machine Interface (HMI) systems are utilizing a wide range of corporate growth strategies to maintain their dominance in the global market. These organizations are entering various acquisition and partnership agreements, and introducing advanced versions of their products to boost their market presence.
HMI Makers to Increase Use of Voice Recognition Due to Its High Precision
Based on operation type, the automotive Human Machine Interface (HMI) market is segmented into gesture, voice, and manual. The voice recognition system segment holds the largest market share as this technology can significantly improve drivers’ safety by offering hands-free interaction and helping them stay focused while driving.
HMIs to be Widely Used in Passenger Cars Due to Integration of Innovative Technologies
In terms of vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger car segment holds the largest share of the global market as a growing number of passenger car manufacturers are integrating advanced technologies into their products to create a seamless driving experience. Since the percentage of the urban population is growing, the demand for better, smarter vehicles has also increased, further boosting the segment growth. With respect to region, the market covers North America, Europe, Asia Pacific, and Rest of the World.
Segmentation
By Operation Type
Gesture
Voice
Manual
By Vehicle Type
Passenger Cars
Commercial Vehicle
Regional Insights-
North America to Dominate Global Market Due to Advancements in Auto Industry
North America held a dominant position in the global market in 2022 and may maintain its dominance in the future as well. The region’s automotive sector is witnessing major changes in recent years due to the growing focus on introducing innovative technologies, such as Advanced Driver Assistance Systems (ADAS) in vehicles. In addition, customers are looking for cars loaded with smart features that give them more control. These aspects will help the regional market remain dominant.
Asia Pacific is anticipated to capture the second-largest market share due to the growing production of vehicles in countries, such as India and China, and the rising demand for electric and connected cars.
Report Coverage:
The report has analyzed the market in depth and provides vital details on key areas, such as vehicle types, prominent companies, and top products. It also provides valuable insights into the market trends and covers key industry developments. Besides the abovementioned factors, the report includes several factors that have contributed to the market's growth in recent years.
A list of prominent Automotive HMI manufacturers operating in the global market:
Continental AG (Germany)
Synaptics Incorporated (U.S.)
Valeo S.A. (France)
Visteon Corporation (U.S.)
Alpine Co. Ltd. (Japan)
Aptiv (Ireland)
Tata Elxsi (India)
EAO AG (Switzerland)
Forciot Oy (Ltd.) (Finland)
Actia Corporation (France)
HARMAN International (U.S)
Intellias LLC (Ukraine)
Rightware Inc., (Finland)
Panasonic Automotive Systems Europe GmbH (Germany)
Bosch Global Software Technologies PVT LTD (Germany)
3M (U.S.)
Infineon Technologies AG (Germany)
COVID-19 Impact:
COVID-19 Induced Decline in Auto Sales Leading to Hindered Market Progress
The COVID-19 pandemic had a major impact on the sales of automobiles, especially passenger cars. This period also created a lot of uncertainty in the auto industry, prompting key market players to shut down their manufacturing plants to contain the spread of the virus. This had a negative impact on the automotive Human Machine Interface (HMI) market growth.
Notable Industry Development:
June 2021: Varroc Engineering Limited (Varroc) signed a Memorandum of Understanding (MoU) with Candera GmbH, a leading HMI partner that offers Human Machine Interface (HMI) tools to automotive and industrial customers across the globe. The aim of the MoU was to form a strategic association to share the HMI technology for Varroc's TFT Instrument Cluster.
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