Transparency Market Research has published a new report on the global automotive human-machine interface (HMI) market for the forecast period of 2019–2027. According to the report, the global automotive human-machine interface market is projected to reach ~ US$ 27 Bn by 2027, expanding at a CAGR of ~7% during the forecast period.
Global Automotive HMI Market: Key Insights
- According to the report, penetration of the automotive HMIs is rising consistently, led by the arrival of new technologies and the adoption of smart features such as speech and face recognition.
- The infotainment systems segment accounted for a significant share of the global automotive human-machine interface market, owing to the high penetration of infotainment systems in vehicles. However, the integration of various modes of interfaces is rising in all systems, which, in turn, is propelling the automotive HMI market.
- Asia Pacific held a notable share of the global automotive human-machine interface market in 2018. The Asia Pacific automotive human-machine interface market is estimated to expand significantly during the forecast period, at a CAGR of ~7% during the forecast period.
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- Moreover, the rising inclination of the automotive industry toward vehicle connectivity and intelligent transportation has prompted manufacturers to integrate automotive HMIs in vehicles.
Expansion of Global Automotive HMI Market
- An automotive human-machine interface is a key component of smart and autonomous vehicles. Thus, the global automotive human-machine interface market is expected to expand due to the advancements of technologies in the automotive industry.
- Key premium vehicle manufacturers such as AB Volvo, BMW AG, Daimler AG, and Volkswagen Group are adopting technical-advanced features at a significant pace. Furthermore, the development of HMI systems by key automotive manufacturers such as Continental AG, Harman, Alpine, Denso Corporation, Tata ELXSI, and Valeo, is anticipated to boost the global automotive human-machine interface market at a significantly high growth rate.