U.S (New York) – We are thrilled to announce the latest release of our comprehensive market research report titled “Automotive HMI Market” by Report Ocean, a prominent industry insights provider. This report provides a wealth of valuable insights and analysis on the current trends, growth prospects, competitive landscape, and strategic recommendations within the [specific industry/market]. It serves as an indispensable resource for gaining in-depth knowledge of the industry and making well-informed decisions.
According to a recent report published by Report Ocean, titled, “Automotive HMI market by Type and Technology: Global Opportunity Analysis and Industry Forecast, 2018-2025“, the global automotive HMI market size was valued at $14,807.5 million in 2017, and is projected to reach $33,590 million by 2025, registering a CAGR of 11.1% from 2018 to 2025. The central display segment was the highest contributor to the global market, with $6,527.1 million in 2017, and is estimated to reach 33,589.8 million by 2025, at a CAGR of 11.1% during the forecast period.
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A release on June 8th, 2022, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2022.In April 2022, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2022, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID-19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2022 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on industries. resulting in a large market for Automotive HMI Market.
At present, Asia-Pacific dominates the market, followed by North America, Europe, and LAMEA. China dominated the global automotive HMI market in 2017, whereas India is expected to grow at a significant rate in Asia-Pacific during the forecast period. Increase in adoption of enhanced interiors for vehicles, rise in concern of consumer toward safety & security features in cars are the main factors that boost the growth of the automotive HMI market. In addition, growth in production and sales of vehicles in developing countries of Asia-Pacific is mainly characterized to fuel the growth of the automotive HMI market. The market growth is directly related to the advancement and expansion of the infotainment systems.
Automobile companies are focusing on the innovations of integrated displays, voice control, and gesture controls. In December 2018, Nuance Communications, Inc. introduced new features in its Dragon Drive Platform that acts as conversational, humanized mobility assistant for button-free car of the future. Panasonic Corporation and Continental AG are leading the competition in central display and instrument cluster for automotive in 2017.
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Technological advancements and growth in vehicle standards contribute toward the growth of the automotive HMI market globally. Moreover, increase in sales of ADAS and safety features promoted the growth of HMI systems. High disposable income and rise in prevalence of vehicle standards drive the growth of the market, specifically in the European countries.
The automotive environment is changing at a rapid pace due to globalization as per automotive HMI market analysis. The increase in automotive sales has been caused due to the improvement in manufacturing facilities in most of the emerging countries such as China, India, and Brazil. The global automotive sector promises better productivity and sales as this sector consists of different segments such as premium and four wheelers, which in turn drives excellent profitability. This factor majorly influences prominent players of automotive sector to invest and expand the business through different segments to gain better profitability.
Also, increase in disposable income of consumers and surge in passenger vehicles sale across the globe fuel the rise in demand for automotive vehicle. Developing countries such as India, China, and Brazil, are the most promising countries for the automotive sector. The increase in demand for vehicles in the automotive sector fuels the growth of the automotive HMI industry and display markets. In recent years, consumers have shifted their interest to technologically advanced HMI and display systems that require low cost and provide better interior systems. Thus, such rise in the sales of automotive vehicles due to their advanced features is expected to create numerous opportunities for automotive HMI market expansion.
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The automotive market growth is positively affected by safety regulations implemented by government for installation of airbags, seat belts, and anti-lock braking systems (ABS) in every vehicle. Europe and North America have been witnessed to follow these regulations more stringently as compared to Asia-Pacific and rest of the world. However, in developing countries, OEMs are providing integrated central displays or center stack displays. Also, government of India is planning to set up its own safety authority Bharat National Car Assessment Programme (NCAP) that rates a vehicle based on safety features used inside the car. Such initiatives from various governments create awareness about the safety features that directly boost the growth of the automotive HMI display and automotive control systems market.
Furthermore, Robert Bosch GmbH launched IoT products with video-based fire detection and automated emergency calls. Also, it partnered with Daimler for connected cars initiative for fleet of autonomous shuttle services, which is expected to enhance automotive HMI market share globally.
The key players analyzed in this automotive HMI market report are Alpine Electronics, Inc., Clarion Co. Ltd., Continental AG, Denso Corporation, Nuance Communications, Inc., Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics Co Ltd. (Harman International Industries, Inc.), Valeo, and Visteon Corporation.
Key Findings Of The Study
Based on product type, the central display segment generated the highest revenue in 2017.
Based on technology type, the visual interface segment of automotive HMI market size was the highest revenue contributor in 2017.
Based on region, Asia-Pacific contributed the highest market revenue in 2017, followed by North America, Europe and LAMEA.
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