Automotive Human Machine Interface Market Study 2024 | Revenue, Opportunity and Key Players Outlook

The size of automotive human machine interface market was registered at USD 11 billion in the year 2017 and is anticipated to cross USD 27 billion by 2024. Between the period 2018-2024, the market is expected to register a CAGR of 12%.
Automotive human-machine interface market has lately emerged as one of the massive revenue generating spheres in the automotive sector with the shifting trends toward the adoption of smart vehicles. Traditionally, pertaining to the lack of advanced infotainment and digitalized internal car design, drivers had been unable to operate the vehicle efficiently.
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However, with the advent of new technology trends, the overall design structure of automobiles has changed considerably, paving the way for integrated human-machine interface in vehicles. The development of connected cars for decreasing the chances of accidents and enhancing the operability of vehicles has also helped propel automotive human machine interface market share.
One of the most pivotal driving forces of automotive human machine interface market is the emergence of smartphones, artificial intelligence, IoT (Internet of Things), and machine learning technologies that have substantially encouraged automakers to carry out product development activities for transforming the existing infotainment system of the vehicle. Validating the aforementioned fact, recently, the American automotive electronics supplier Visteon Corporation developed a next-generation cockpit controller, SmartCore that has been deployed in Daimler’s upcoming Mercedes-Benz A-Class vehicles.
Increasing awareness among the regulators and regional governments about the surging need for vehicle security and safety has been driving the requirement of the instrument clusters and digital infotainment systems. The policymakers claim that the implementation of a human-machine interface will help the driver collect accurate information about the surrounding environment. In order to comply with the stringent regulatory compliances, most of the automakers, technology companies, manufacturers, and designers have been striving to innovate advanced solutions for passenger vehicles and connected cars. Indeed, passenger vehicles are expected to account for nearly 80% share of automotive human machine interface market by the end of 2024.
As of now, motorcycle manufacturers have also been integrating HMI technology in the vehicle for improving performance, driving experience, and safety. Few weeks before, the British electric motorbike manufacturer had launched a fully electric motorcycle with human-machine interface. The evolution of e-bikes for promoting high performance and energy security is poised to have a considerable impact on the demand for HMI. In addition, considering the future energy benefits and depleting fossil fuel resources, most of the regional governments have been implementing a supportive regulatory framework to enhance the deployment of e-vehicles that also will fuel the product demand.
The surging use of digital technology in vehicles for achieving better performance and sustainability will transform the future of the automotive industry. The extensive utilization of software for enabling numerous operational packages comprising functional safety, cybersecurity, and infotainment system will also stimulate industry trends.
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Some Point from 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. 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 Human Machine Interface 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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