Press release
Automotive HMI Market Projection By Top Key Players – Continental AG, Visteon Corporation, Denso Corporation, Harman, Alpine Electronics Panasonic Corporation Market Research Forecast 2028
Automotive HMI Market Forecast 2021-2028
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Market Overview:
The global automotive human machine interface (HMI) market size is projected to grow from USD 10.71 Billion in 2021 to USD 18.64 Billion in 2028. As per a published report by Fortune Business Insights™, titled, “Automotive HMI Market, 2021-2028,” the market stood at USD 10.47 Billion in 2020. It is set to exhibit a CAGR of 8.2% during the forecast period in 2021-2028.
Stellantis and Hon Hai Sign MoU to Develop Mobile Drive
In May 2021, Hon Hai Precision Industry Co., Ltd., its subsidiary FIH Mobile Ltd., and Stellantis signed a MoU for developing Mobile Drive, a new joint venture to provide unique in-vehicle user experiences with advanced consumer electronics. The newly formed company is set to blend Hon Hai Precision’s global development in the hardware and software realms of consumer electronics and smartphones with Stellantis’ engineering and vehicle design expertise. As per one of the company officials, “This development would help in enhancing the quality of life of customers worldwide. Besides, it would accelerate the development of connectivity services and features to evolve in the industry.” Such initiatives would drive this industry in the near future.
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Closure of Manufacturing Facilities amid COVID-19 Pandemic to Impact Growth
The global COVID-19 pandemic has resulted in the shutdown of manufacturing facilities by major companies. But, some of them are trying to bring back their production to normalcy by putting forward precautionary measures, such as social distancing and reduced workforce. The automotive sector is anticipated to be steady once the pandemic eases out. At the same time, the rising number of vaccination drives in various parts of the world has led automotive manufacturers to open up manufacturing facilities gradually. Our research reports will help you to select the best strategy to take your automotive HMI business to a whole new level.
Report Coverage-
Our detailed research reports offer a comprehensive coverage of this industry, ensuring a deep and holistic understanding of the market. It also provides granular and actionable data. We strive to ensure that you receive the best strategies for increasing sales of your products. Our key mission is service orientation. We also conduct extensive primary and secondary research to help you track the latest innovations, regulatory developments, and competitive landscape.
Drivers & Restraints-
Rising Implementation of Alexa and Google Assistant to Propel Growth
Nowadays, vehicles are being equipped with various software solutions to help in the smooth connection between the driver and the automotive HMI system. Voice control systems, such as Amazon Alexa and Google Assistant are providing an integrated in-car experience to drivers and passengers by delivering access to speech recognition technology. It also helps to guarantee safer driving by eliminating distractions. Additionally, HMI systems are able to cut costs of automakers as they are adaptable and flexible. However, concerns of cyberattacks that can lead to the loss of confidential data may hinder the automotive HMI market growth in the near future.
Segment-
Passenger Cars Segment to Dominate Backed by Surging Shift towards Clean Energy
By vehicle type, the market is divided into passenger cars and commercial vehicles. Amongst these, the passenger cars segment is expected to remain at the forefront because of the rising commuting needs because of rapid urbanization globally. Besides, the increasing shift towards clean energy and lower operating costs are likely to surge the demand for electric vehicles.
Regional Insights-
Europe Stood at USD 2.38 Billion in 2020: Fortune Business Insights™
In 2020, Europe earned USD 38 Billion in terms of revenue. The surging popularity of electric vehicles (EVs) in developed countries, such as Italy, France, and Germany would augment regional growth. In addition to this, the surging demand for luxury cars because of the presence of various high net-worth individuals is also anticipated to aid growth.
Asia Pacific is anticipated to be the fastest-growing region in the upcoming years on account of the implementation of numerous strict norms by regulatory bodies to revive the automobile industry owing to the negative impact of COVID-19. In India, for instance, the government put forward initiatives, such as the Automotive Mission Plan and the National Electric Mobility Mission Plan (NEMMP). The Automotive Mission Plan aims to broaden exports to USD 80000 million.
In North America, the market is likely to grow significantly, backed by the high demand for passenger cars and commercial vehicles equipped with automotive HMI.
Competitive Landscape-
Key Companies Aim to Develop New Solutions through Mutual Expertise
Key players in the global market are engaging in collaborations and new product launches to come up with cutting-edge HMI solutions for next-generation vehicles. Denso Corporation, for instance, is considered to be one of the leading companies in the market. It has maintained this position by using the expertise of other companies. Below is one of the industry developments:
December 2017: DENSO Corporation jointly developed the world's first integrated HMI platform with BlackBerry Limited. It would help to develop a system to optimally coordinate and cooperate with numerous HMI products, such as sound and displays inside the cockpit of the vehicle at low prices. It will be featured in successive car models released after 2019.
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Fortune Business Insights™ lists out the names of renowned manufacturers of automotive HMI present in the global market:
Continental AG (Hanover, Germany)
Visteon Corporation (Van Buren Charter Township, Michigan, United States)
Denso Corporation (Kariya, Aichi, Japan)
Harman (Stamford, Connecticut, USA)
Alpine Electronics (Shinagawa City, Tokyo, Japan)
Panasonic Corporation (Kadoma, Osaka, Japan)
Valeo (Paris, France)
Bosch, Inc. (Gerlingen, Germany)
Related Article @ https://marketresearchreportsfbi.wordpress.com/2021/10/21/revenue-cycle-management-market-global-market-growth-potential-price-trends-competitive-market-share-forecast-2020-2028/
NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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