Automotive HMI Market to Record CAGR of 10.8% and Increase in Revenue by 2030 | Continental AG, Faurecia, DENSO CORPORATION, EAO AG, Intellias Ltd.

Automobile manufacturers are integrating human–machine interface (HMI) systems to cater to the increasing preference of customers to remain connected with the outside world, while on road. Because of the increasing in-vehicle connectivity features in infotainment systems to connect smartphones with the vehicle, automobile diagnostics, traffic and collision warnings, real-time traffic monitoring, and roadside assistance, the automotive HMI market is expected to display a CAGR of 10.8% during 2020–2030. Besides, increasing awareness about improved safety features in vehicles will increase the size of the market from $18,822.3 million in 2019 to $55,318.4 million by 2030.

To increase the safety quotient, automotive producers are integrating automotive HMI solutions to assist drivers while traveling. These solutions reduce distractions while driving by offering safety features, such as voice interactions, mobile devices, and touch screens, which help the drivers in noticing and understanding imperative information. Besides, governments, worldwide, are implementing and regulating mandatory policies to assimilate safety features in automobiles. Adoption of these solutions will curtail the incidence of road accident, which is the eighth major cause of death, according to the World Health Organization (WHO).

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As for the product variety, the automotive HMI solutions manufacturers offer an array of products like instrument clusters, central displays, voice recognition systems, heads-up displays, gesture recognition systems, multifunction switches, rear-seat entertainment units, and steering-mounted controls. With the surging consumption of mid-priced and premium cars, the adoption of heads-up displays is expected to increase in future. These heads-up displays project important data and stats, such as system warnings, multimedia information, and driving status, on the vehicle's windshield.

According to P&S Intelligence, the Asia-Pacific (APAC) region generated the maximum demand in the automotive HMI market in 2019, due to the increased adoption of passenger cars and high demand for enhanced safety features and user experience. Also, it is projected that the rising income of people and increasing preference for automotive HMI solutions will fuel the demand for these systems in future, in the region. Moreover, the flourishing automobile sector in China will increase the adoption of premium cars, which, in turn, the demand for automotive HMI solutions is increasing.

Besides, developments in technologies, such as virtual reality (VR), internet of things (IoT), and augmented reality (AR), and their integration in automotive HMI solutions will increase the adoption of HMI systems in mid-priced and premium cars, and connected and autonomous vehicles. Moreover, producers of these systems are investing hugely in the development of HMI systems and associated technologies. The manufacturers are focusing on developing and producing better dashboard layout flexibilities and innovative display technologies, which are highly adaptable and dynamic.

When it comes to the availability of the automotive HMI solutions, a single service provider or company or vendor does not necessarily provide every product. To provide a complete end product, companies collaborate with each other for hardware and software components. To cater to the demand and gain a competitive edge, the vendors opt for partnerships, acquisitions, and mergers. One such example is the joint venture between Toyota Motor Corporation and DENSO CORPORATION for the development and research of next-generation in-vehicle semiconductors. These semiconductors will be used to develop electronic components for automated vehicles.

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Thus, the development of new systems and high demand for improvised vehicles will increase the adoption of automotive HMI systems in future.

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This release was published on openPR.