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Automotive Human Machine Interface (HMI) Market Insights, Analysis Report 2024-2033
Automotive Human Machine Interface (HMI) Market Insights
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According to The Business Research Company's, The automotive human machine interface (HMI) market size has grown rapidly in recent years. It will grow from $21.02 billion in 2023 to $23.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to increased demand for connected vehicles, increased integration of advanced driver assistance systems, increased demand for in-vehicle entertainment, increased focus on energy efficiency, and increased focus on ergonomics.
The automotive human machine interface (HMI) market size is expected to see rapid growth in the next few years. It will grow to $36.52 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to the increasing ability of HMI to provide impeccable driver safety, rising infotainment application solutions, growing urbanization and smart cities, increase in autonomous automobiles to improve the driving experience, rising demand for remote vehicle monitoring and control. Major trends in the forecast period include adoption of AR heads-up display, advancement in AI and ML, power seat controls, occupation detection, and biometric systems.
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Market Drivers and Trends:
The increasing number of autonomous vehicles is expected to propel the growth of the automotive human-machine interface (HMI) market going forward. Autonomous vehicles are self-driving vehicles that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The increasing number of autonomous vehicles is due to advancements in artificial intelligence and sensor technology, along with substantial investment and support from private companies and governments to enhance safety and efficiency in transportation. Automotive human-machine interfaces (HMI) play a crucial role in autonomous vehicles by facilitating communication and interaction between the vehicle's systems and its occupants (drivers and passengers). For instance, in December 2022, according to the National Association of Insurance Commissioners, a US-based non-profit organization, there are expected to be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Therefore, the increasing number of autonomous vehicles drives the growth of the automotive human-machine interface (HMI) market.
Major companies operating in the automotive human-machine interface market are focused on developing innovative technologies, such as autonomous driving solutions, to strengthen their position in the market. An autonomous driving solution is a comprehensive system or technology enabling vehicles to operate and navigate without direct human input or intervention. For instance, in June 2022, Jidu Auto, a China-based car manufacturer, launched the robocar ROBO-01. The innovative robocar integrates advanced AI-driven autonomous driving capabilities, leveraging radar, lidar, and cameras for real-time environment perception, ensuring safe interaction with pedestrians, vehicles, and infrastructure. Its robust AI-powered computing platform enables rapid decision-making and adaptive responses to dynamic traffic conditions. This robocar boasts an advanced AI voice interaction system with exceptional recognition capabilities, enabling natural communication among humans, the vehicle, and its surroundings. Its large, integrated screen offers an immersive audio-visual experience, significantly enhancing the human-machine interface (HMI).
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Major Key Players of the Market:
Volkswagen AG, Toyota Motor Corporation, Luxoft Holding Inc., Ford Motor Company, General Motors Company, Honda Motor Co. Ltd., Hyundai Motor Group, Robert Bosch GmbH, Tesla Inc., Nissan Motor Co. Ltd., Kia Corporation, Panasonic Corporation, Denso Corporation, Continental AG, Valeo S.A., Mitsubishi Motors Corporation, Aptiv PLC, HARMAN International Industries Incorporated, Alpine Electronics Inc., Visteon Corporation, Synaptics Incorporated, Nuance Communications Inc., Clarion Co. Ltd., Tata Elxsi Limited, Magneti Marelli S.p.A.
Automotive Human Machine Interface (HMI) Market 2024 Key Insights:
• The automotive human machine interface (HMI) market size is expected to see rapid growth in the next few years. It will grow to $36.52 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%.
• Autonomous Vehicles Drive Growth In Automotive HMI Market
• Jidu Auto Unveils Cutting-Edge ROBO-01, Pioneering AI-Powered Autonomous Driving Solutions
• North America was the largest region in the automotive human machine interface (HMI) market in 2023
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