Automotive HMI Market: North America Region is Projected to Hold 20% Industry Share By 2024
North America automotive HMI market is likely to procure a market share of more than 20% by 2024. North America region has witnessed noteworthy proliferation of connected and autonomous cars in recent years, which is favoring automotive HMI industry trends in the region. Given the affinity of regional automakers towards latest technologies, OEMs are incorporating next-gen technologies to improve infotainment & communication experiences in vehicle. Moreover, vendors in the automotive HMI space are focused on introducing new technology enabled platforms and are investing heavily on the same.
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With the global automotive industry surfing along the wave of autonomous and self-driving cars, the commercialization potential of automotive HMI market 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).
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. As per estimates, HUD segment is likely to exhibit the fastest CAGR of 21% over 2018-2024.
Rise in in-car engagement options subject drivers to accidents, which has fueled the demand for multimodal HMI. Multimodal interface access is gaining widespread traction as these systems not only allow users to use more than one mode at a time, but also seamlessly switch from one interaction mode to another, thereby serving as an excellent means to reduce driver distraction. Moreover, multimodal systems are capable of recognizing inputs from human voice, touch, gesture, and vision. Automotive OEMs are progressively substituting traditional controls with modern multimodal systems such as gesture control, touch screen, haptic feedback, voice control, and others. Multimodal interface access segment is anticipated to exhibit the highest CAGR of around 20% over 2018-2024 and procure 55% of global share by 2024.
Automotive OEMs are emphasizing on increasing the safety and comfort quotient in passenger cars, which is fueling automotive human machine interface market trends. Due to increased consumer demand for premium cars equipped with high-end multi-media devices, OEMs are progressively incorporating HMI systems within passenger cars. Automotive HMI market share from passenger car will procure almost 75% of global 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 human machine interface 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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