Automotive Human Machine Interface (HMI) Market growing at a CAGR of over 12% between 2018 to 2024 | (Altran, Continental, DENSO, Harman International, Magneti Marelli, Panasonic, Valeo, Visteon Corporation)

In the global automotive human machine interface (HMI) market, the acoustic interfaces segment is projected to observe the highest adoption rate with a CAGR of approximately 15% throughout the forecast timeline. The increased implementation of the speech recognition technology to give the command or to control the features of the vehicle’s infotainment systems will accelerate the market growth. Among all the acoustic interfaces, beepers were the first to be used for warning functions such as speed limit, safety warnings, comfort feedbacks, and parking assistance.

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Industry Growth drivers:

1. Growing adoption of automotive IoT
2. Increased adoption of Advanced Driver Assistance System (ADAS) for fleet management
3. Growing production of passenger cars
4. Use of gestures for enhanced human-car interactions
5. Integration of smartphones with vehicles

The passenger vehicle segment will lead the global automotive human machine interface market in 2024 with a share of around 75%. The surge in the production of passenger cars and the ongoing investments by the automakers to boost the autonomous vehicles market will drive the growth of the passenger cars segment. Increased customer demand for premium cars equipped with interactive multi-media systems is expected to trigger the growth of the HMI systems in passenger cars.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1.Alpine Electronics
2. Altran Technologies, SA
3. Bosch Mobility Solutions
4. Clarion Co., Ltd.
5. Continental AG
6. EAO AG
7. Harman International
8. Johnson Controls International plc
9. Luxoft Holdings
10. Magneti Marelli S.p.A.
11. Mitsubishi Electric Corporation
12. Nuance Communications, Inc.
13. Panasonic Corporation
14. Socionext America Inc.
15. Synaptics Incorporated
16. TATA ELXSI
17. Valeo
18. Visteon Corporation
19. Yazaki Corporation

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The multimodal interface segment is projected to hold a dominant share of around 55% in 2024 in the automotive human machine interface (HMI) market. In smart vehicles, the infotainment systems work either on the commands of the user or programmed all by itself within the automobile. These systems can take inputs from humans in the form of voice, gestures, touch, and vision. The multimodal interaction in these vehicles helps in enhancing the user experience by enabling the user to shift seamlessly from one interaction mode to another. This also helps in minimizing driver distraction and ensuring driver’s safety by combining visual cues and audio through a single platform. The huge adoption of such interfaces in the new car models will fuel the growth of the automotive human machine interface market.

The Asia Pacific automotive human machine interface (HMI) market is estimated to grow at the highest CAGR of over 15% during the forecast period. The market growth is attributed to the factors such as increased demand for luxury cars coupled with the rising disposable income in countries including China and India. Shifting consumer preferences toward luxury cars have compelled the automakers to adopt cutting-edge technologies in their vehicles to ensure high-brand engagement. The automobile companies in the region are also investing heavily in R&D to gain an edge in the development of next-generation vehicle technologies such as autonomous driving and ADAS.

HUDs are expected to show the fastest growth with a CAGR of around 21% in the automotive human machine interface market. HUDs help in reducing driver distraction by displaying warning signals and navigation information directly in the driver’s line of sight. The increased adoption of these devices to keep drivers focused on the road, ensuring their and the passengers’ safety will lead to its growing deployment in the passenger and commercial vehicles.

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Some of the key vendors in the automotive human machine interface (HMI) market are Alpine, Continental, Altran, Bosch, Clarion, Denso, EAO, Harman, Nuance, Magneti Marelli, Luxoft, Panasonic, Socionext, Tata ELXSI, Valeo, Visteon, and Yazaki.

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