The automotive industry is one of the fastest-growing industries, significantly contributing to the gross domestic product of several countries. Unfortunately, the COVID-19 pandemic posed serious challenges for which the industry was under-prepared. Halted production and disruptions in the supply chain resulted in a huge setback in the automotive industry.
However, with the acceleration in the vaccination process across several countries like the U.K., the U.S., Germany, India, and China, manufacturers are making conscious efforts to bring the automotive industry back on track, with innovations and expansion strategies.
The global demand for automotive human machine interface market is projected to exhibit an impressive expansion at a robust CAGR during the forecast period 2017 to 2022, according to the latest research by Fact.MR. The report estimates revenues from the market to increase from US$ 17,119 Mn in 2017 to reach nearly US$ 30,000 Mn by 2022-end.
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One of the major key trends observed in the global automotive human machine interface market is soaring demand for automotive infotainment. Infotainment devices are used for communication, navigation, and entertainment in automobiles, influencing demand for telematics devices. This further propels the demand for automotive human machine interface systems. Human machine interface systems enable interface between humans and automated systems, using human-machine interface panels & software, helping operators to interact with the automated systems in vehicles.
Human machine interface systems enable rich infotainment features in vehicles such as GPS navigation, the internet, and information, facilitating long distance travel. Human machine interfaces are largely adopted in high-end automobiles, and are estimated to be introduced in low-cost vehicles in the upcoming years. Vendors of automotive human machine interface systems have commenced incorporating innovations and new ideas into already existing systems, for increasing their market presence across the globe. These factors will fuel growth of the global automotive human machine interface market. In addition, some other factors such as integration of mobile phones with vehicles, government intervention in increasing in-vehicle safety, and surging co-relation between human machine interface systems and consumer electronics will further influence growth of the market over the forecast period.
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Key Takeaways from the Global Automotive Human Machine Interface Market
- Asia Pacific excluding Japan (APEJ) is anticipated to remain the most-lucrative region for the market, in terms of revenues. The markets in Europe and APEJ are estimated to register similar CAGRs through 2022.
- The market in Middle East & Africa (MEA), and Japan will collectively account for revenues worth US$ 2,235.8 Mn by 2022-end, with MEA being comparatively more lucrative than Japan.
- Central display automotive human machine interface will remain preferred among products in the market. However, sales of head-up display (HUD) automotive human machine interface are expected to register the fastest expansion through 2022.
- Automotive human machine interface systems will witness the largest sales in sedans/SUVs, to surpass US$ 10,000 Mn in revenues by 2022-end.
- Luxury/sports cars will continue to be the second largest car type segment in the global market, with sales estimated to register the highest CAGR through 2022.
- Aftermarket is estimated to remain the largest sales channel for automotive human machine interface systems, with sales estimated to reach nearly US$ 20,000 Mn by 2022-end.
- By technology type, visual automotive human machine interface systems will remain dominant in the market during the forecast period.
- Sales of mechanical automotive human machine interface will continue to register the fastest expansion through 2022.
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- Delphi Automotive Plc.
- Denso Corporation
- Valeo SA.
- Saint-Gobain SA
- Honeywell International Inc.
- Magneti Marelli S.P.A
- Nippon Seiki CO.
Additional Questions Answered – Global Human Machine Interface Systems Market
- In the future, would government regulation prove to be a deterrent considering driver alertness?
- What are some key opportunity regions for the HMI providers?
- What are some major challenges hampering the growth of the global human machine interface systems market?
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