Automotive HMI or Human-machine interface market is witnessing an admirable growth and is set to grow at a CAGR of 14.1% during the forecast period to reach a value of approximately $39.69 billion by 2023, compared to $16.78 billion in 2016. With over 24% share in 2016, instrument clusters had the largest share in the market. Whereas, the fastest growth in this market is being witnessed by head-up display. HMI is broadly utilized as a part of luxury vehicles and is set to be brought into mid-value vehicles during 2017-2023.
HMI is an innovation in which the driver of a vehicle can have direct communication with the vehicle systems, with no distraction while driving. The automotive HMI thinks about the driver behavior, street and traffic conditions with different HMI based input and output devices. The automotive HMI market involves different technologies, end-clients and products. Development in connected vehicles is one of the major factors driving of the automotive HMI market. The connected vehicle enables the driver to get to the constant activity data and help with reaching the destination quicker. Vehicle management systems give precise data about the performance of the vehicle and automatically sends information to fleet owners and insurance agencies. Smartphone interface – hotspot – video, music, video, online networking and web are a portion of the extra highlights of connected vehicles, enabling passengers and drivers to have better access to the infotainment system as they are controlled by voice acknowledgement programming. 70% of the connected service sales came from premium vehicles in 2016.
The automotive HMI market is hindered by the risk of malfunctioning systems, which can lead to road accidents. HMI has high cost of installation, which is also affecting the growth of the market. OEMs are trying to find different ways to reduce the overall cost of the product and it is expected that with the increase in the adoption of the product, the price is expected to come down due to increase in demand for mid-price passenger cars.
Despite the hindrances, in 2016, both Europe and Asia-Pacific accounted for 69% in the global automotive HMI market. Rise in the stringent safety norms toward vehicle safety, technological advancements and vehicle production are a few major factors that have contributed to the growth of the HMI market. China and India have displayed gigantic growth in vehicle production in recent years and the pattern is probably going to keep during the forecast period. In North America, both Canada and the U.S. markets stayed promising and accomplished high sales figures in 2016. In the rest of the world, automotive industry has grown essentially in Brazil, Chile,, Middle East, Australia and Iran, and significant automakers are intending to set up their assembling plants in these nations to take care of the growing demand of vehicles.
Few major players involved in the automotive HMI market include Delphi Automotive PLC, Clarion Co. Ltd., Synaptics Incorporated, Altran Technologies, and Continental AG.
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