India Automotive HMI Market Share, Business Growth 2021: Statistics and Growth, Regional Analysis, Development History & Forecast

As per Organisation Internationale des Constructeurs d'Automobiles (OICA), India was the fifth-largest producer of automobiles in 2019, with a final tally of 4,516,017 units. Since the 1990s, the focus of the global auto sector has witnessed a paradigm shift to countries like India, China, Japan, and South Korea, on account of their increasing urban population, which is experiencing a rise in its disposable income. While most people in India still purchase automobiles out of need, many do it just as a status symbol.

Either way, the auto sector of India continues to grow, with the India Brand Equity Foundation (IBEF) saying, “India became the fourth largest auto market in 2019 displacing Germany with about 3.99 million units sold in the passenger and commercial vehicles categories. India is expected to displace Japan as the third largest auto market by 2021.” As per P&S Intelligence, with the increasing vehicle production and sales, the Indian automotive human–machine interface (HMI) market will grow from $466.9 million in 2017 to over $1,000.0 million by 2023, at a healthy 14.1% CAGR between 2018 and 2023.

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An HMI is anything that acts as the medium via which the driver controls various functions of the vehicle or communicates with it, in general. In this way, touchscreen displays, steering-mounted controls, heads-up displays (HUDs), multifunction switches, rear-seat entertainment (RSE) controls, and instrument clusters are all types of automotive HMIs. Among these, touchscreen displays are rapidly becoming popular, with analog technologies being replaced by digital ones. Moreover, with the integration of multimedia features in automobiles, these displays are acting as entertainment unit control consoles.

The increasing sale of premium and mid-priced cars is also the reason the Indian automotive HMI market has historically benefitted the most from the western part of the country. Maharashtra accounts for the highest disposable income of all Indian states, which is why the demand for expensive vehicles here has been traditionally high. Mumbai, the state capital, is the country’s financial and entertainment center, therefore, home to a large number of millionaires, who can easily afford costly automobiles integrated with cutting-edge HMIs.

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Thus, with the increasing demand for expensive vehicles, preferably those with vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity, automakers will integrate HMIs in more of their models.

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This release was published on openPR.