The global automotive HMI market is estimated to grow at a CAGR 8.71% to reach a market size of US$21.087 billion in 2024 from US$12.776 billion in 2018. The global automotive human machine interface (HMI) market is expected to grow at a decent CAGR throughout the forecast period owing to the increasing requirement of better driver vehicle interaction systems.
HMI also known as Human Machine Interface is a bridge between the driver and the car and the driver and his surroundings. HMI allows the driver to interact with the vehicle and receive different kinds of information related to the driving or other forms of feedback. HMI technology comes in different product variations such as heads up display, rear seat infotainment systems, steering based controls, and others.
HMI is a very important technology to be incorporated into vehicles today as it is very important for the driver to receive feedback from the vehicle as well as information about the driving because the driving is impacted by many factors such as environment, road conditions, and driver habits. The global HMI market has been segmented by product type, by offering, by vehicle type, by sales channel, and geography.
HMI is evolving with the increase in demand for these systems and technological advancement in the automobile industry. With the interaction modes changing rapidly from mechanical inputs to touch inputs to voice inputs, the HMI industry is moving at a significant rate. Owing to the increasing need of such systems, key players are investing in upgrading these technologies to more better and efficient ones. For example, a company Clarion Co., Ltd. will introduce products of the Clarion Group at the Shanghai Motor Show, the products include a Smart Cockpit Human Machine Interface (HMI) technology that provides the driver information using audio and vibrations thus enabling more comfortable and safer driving.
By Product Type
On the basis of product type, global automotive human machine interface (HMI) market is segmented as heads-up display, gesture recognition and speech, steering based control, centre stack display, instruments clusters, and multi-function (MuFu) touchpads, controller, and buttons. Centre stack display and instruments cluster holds a notable share in the market. Heads up display is expected to increase its amount of share in the market owing to the easiness of interaction between human and the automobile it provides, as it displays the information directly on the windshield in front of the driver.
On the basis of offering, global automotive human machine interface (HMI) market is segmented as hardware, software, and services. Hardware based modules hold a notable market share due to the easy availability and installation of these type of modules.
By Vehicle Type
On the basis of vehicle type, global automotive human machine interface (HMI) market is segmented as passenger vehicles, light commercial vehicles, heavy commercial vehicles. Passenger vehicles hold a significant amount of share in the market due to increasing production and demand of passenger vehicles and better driver vehicle interaction systems.
By Sales Channel
On the basis of sales channel, global automotive human machine interface (HMI) market is segmented as OEMs and aftermarket. OEMs hold a notable amount of share in the market due to the fact that most of the vehicles produced come with HMI software pre-installed or HMI module pre mounted. Aftermarket also holds a notable amount of share in the market due to easy availability of these modules by different companies.
By geography global automotive human machine interface (HMI) marketis segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America.
The global automotive human machine interface (HMI) market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.
The global automotive human machine interface (HMI) market has been segmented by interface type, product type, technology type, vehicle type and geography