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Indian Automotive HMI Market is Projected to Reach $1 Billion by 2023

06-20-2019 11:21 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Indian Automotive HMI Market is Projected to Reach $1 Billion

The Indian automotive HMI market is projected to reach $1 billion by 2023, according to P&S Intelligence.

The growth of the market is majorly driven by the growing in-vehicle connectivity, rising demand for enhanced user experience and safety features, and increasing passenger car sales in the country.

Insights into market segments

Based on product, the Indian automotive HMI market is categorized into steering mounted controls, touch screen display, multifunction switches, head-up display (HUD), instrument clusters and rear seat entertainment (RSE). Of these, the touch screen display category is estimated to account for the largest share in the market, driven by its increasing adoption in medium category cars.

On the basis of end-use, the Indian automotive HMI market is segmented into economy, medium, and premium cars. On the basis of value, the medium car category held the largest share in the automotive HMI market of the country in 2017, accounting for more than 62%, due to increasing HMI penetration in these cars. However, premium car is expected to be the fastest growing category during the forecast period, due to its increasing sales in the country.

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On the basis of access, the Indian automotive HMI market is categorized into multimodal HMI and standard HMI. Standard HMI access held a larger revenue share, at more than 90%, in 2017, due to lower cost of these HMIs when compared to the multimodal ones. However, multimodal HMI is expected to witness faster growth during the forecast period, due to increasing demand for premium and comfort features in passenger cars. Benefits offered by multimodal HMI, such as improved recognition and faster interaction, are likely to swell their adoption in passenger cars.

The HMI sales in the country is evenly distributed in the northern, southern and western regions of the country, with the western part of the country accounting for the maximum share, contributing more than 28% in automotive HMI market in 2017. The HMI sales in the eastern region of the country remains low, due to lower economic growth and low income levels in this part of the country.

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Increasing passenger car sales benefiting the India Automotive HMI market

Car sales in India have witnessed a significant growth in the last decade, driven by the share of young population, rising income levels, and urbanization in the country. The sales of passenger cars would continue to witness a strong growth during the forecast period, thus, driving the Indian automotive HMI market.

Additionally, increasing urbanisation in the country is leading to growing demand for passenger cars from Tier1 and Tier2 cities in the country. According to the census data, the population residing in urban areas increased from 28.5% in 2001 to 31.2% in 2011. Rising passenger car sales is increasing the sales of HMI products such as steering mounted controls, touch screen displays, and RSEs, thus, benefiting the Indian automotive HMI market.

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India Automotive HMI Market Competitive Landscape

Some of the major players operating in the Indian automotive HMI industry are Visteon Corporation, Panasonic Corporation, Continental AG, Robert Bosch GmbH, DENSO Corporation, Nippon Seiki Co. Ltd., Alpine Electronics Inc, Alps Electric Co., Ltd, Omron Corporation, ZF Friedrichshafen AG and Valeo SA.

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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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