Automotive HMI Market: Global Trends, Industry Growth And Top Company Profiles, 2024
Global Automotive HMI 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.
The OLED displays are also designed to be thinner, bendable, and lighter in turn making them easy to install and capable to produce optimized light output for improved functionality. Industry experts claim that Denso’s investment of USD 270 million in JOLED will enable it to combine its HMI technology & expertise, thereby speeding the development & mass production of OLED displays for center-stack displays, instrument clusters and other devices, contributing to more attractive and convenient digital cockpits for streamlined interaction between human and machine.
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automotive HMI market form HUD segment is likely to exhibit the fastest CAGR of 21% by 2024. Head-up Display (HUDs) systems have attained remarkable traction in automotive HMI space as these systems help to reduce driver distraction by displaying navigation information and warning signals directly in the driver's line of sight. HUD systems are finding widespread deployment across passenger as well as commercial vehicles.
Denso’s massive investment in elevating JOLED’s mass production of in-vehicle OLED displays – is an apt instance bearing substantiation to the aforesaid. The in-vehicle OLED displays, for the record are used for HMI in automobile cockpits to deliver important information to drive swiftly & accurately. Reports reveal that JOLED’s OLED displays offer HD images & more clear colors in comparison with the conventional HMIs that usually uses the thin-film transistor liquid crystal displays.
With the global automotive industry surfing along the wave of autonomous and self-driving cars, the commercialization potential of automotive HMI industry has scaled several notches up over the past few decades. The global automotive HMI market valuation of over USD 11 billion in 2017 is a vivid data bearing testimony to the robust growth of this business sphere in the recent years. Reports claim that the rapid proliferation and integration of advanced technologies such as virtual reality (VR), Internet of Things, Cloud-based software, and Machine Learning with automotive hardware has lead the way to the deployment of massive automotive HMI, in turn enabling the smooth interaction between the driver and the vehicle.
Identifying the exponentially increasing demand for potential human machine interface to meet the needs of the advanced automotive designs, several companies operating in this business sphere are going the whole hog to bring in product innovation, and expanding their production capabilities to meet the robust demand. Recently for instance, Altia made an announcement of its HMI code generation supports for the newly launched Renesas R-Car E3 system-on-chip (SoC). The integration of Altia’s code generation software and R-Car E3 SoC will be available for all the global automotive OEM production programs.
Such product innovation and capacity expansion trends promise to be one of the most prominent drivers impelling the commercialization potential of global automotive HMI market. further throws light on the growth graph of automotive human machine interface market and further forecasts the global valuation to surpass USD 27 billion by 2024, with an estimated CAGR of 12% by 2024. The report also highlights that, in terms of vehicles, passenger vehicle segment will be the most lucrative investment ground as it is estimated to account for 80% of the global automotive HMI industry share by 2024.
The rapid demand for major luxury and passenger cars such as BMW, Audi, Volkswagen, and Porsche especially in North America, Asia Pacific, & Middle East regions, the business landscape of automotive HMI industry is sure to tread along a profitable roadmap in the ensuing years. Given that the expanse of this sphere spans numerous geographies & mammoth participations of industry players, the automotive HMI market will emerge as a lucrative business space for potential investors in the ensuing years.
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Some Point from Table of Contents:
Chapter 5. Automotive HMI 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 HMI Market, By Interface Type
6.1. Key trends, by interface type
6.2. Visual
6.2.1. Visual interface market estimates and forecast, 2013-2024
6.3. Acoustic
6.3.1. Acoustic interface market estimates and forecast, 2013-2024
6.4. Mechanical
6.4.1. Mechanical interface market estimates and forecast, 2013-2024
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