Indian Automotive HMI Market Set to Generate $1,000.0 Million Revenue by 2023

Owing to the burgeoning sales of automobiles, on account of the swift urbanization, soaring urban population levels, and rising income of the people, the demand for automotive human–machine interfaces (HMI) will exhibit huge growth in India in the coming years. Since the last few decades, there has been a massive increase in the urban population in the country, especially in the tier 1 and tier 2 cities. As per the census data, the urban population of the nation increased from 28.5% to 31.2% from 2001 to 2011.

Some of the major players operating in the Indian automotive HMI industry are -
1. Visteon Corporation
2. Panasonic Corporation
3. Continental AG
4. Robert Bosch GmbH
5. DENSO Corporation
6. Nippon Seiki Co. Ltd.
7. Alpine Electronics Inc
8. Alps Electric Co.,Ltd
9. Omron Corporation
10. ZF Friedrichshafen AG
11. Valeo SA

Powered by the above-mentioned factors, the Indian automotive HMI market attained a value of $466.9 million in 2017, and it is further expected to generate revenue of around $1,000.0 million by 2023, demonstrating a CAGR of 14.1% during the forecast period (2018–2023). Automotive HMI systems act as a bridge between the users and the vehicle, through multiple types of media, namely visual, mechanical, and acoustic. Amongst these, visual HMI systems recorded the highest usage in the past, mainly on account of the soaring adoption of these interfaces in medium-sized cars.

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INDIA AUTOMOTIVE HMI MARKET

By Product - Instrument Cluster, Touch Screen Display, Head-Up Display (HUD), Steering Mounted Controls, Rear Seat Entertainment (RSE), Multifunction Switches
By Interface - Visual, Mechanical, Acoustic, and Others
By Access - Multimodal HMI and Standard HMI
By End-use - Economy Cars, Medium Cars and Premium Cars
By Region - Northern, Western, Southern and Eastern

In India, the western part of the country registered the highest adoption of automotive HMI systems in 2017. This is primarily attributed to the huge sales of premium and medium-range cars in this part of the country in the last few years. The northern and southern regions of the country also recorded huge sales of passenger cars, owing to the high purchasing power of the people, which significantly boosted the demand for automotive HMI systems in these regions.

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Therefore, owing to the soaring need for vehicle–outer world connectivity and the rising demand for enhanced vehicle and passenger safety and navigation, the demand for automotive HMI systems will observe huge growth in the coming years.

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This release was published on openPR.