DUBLIN--(BUSINESS WIRE)--The "Automotive Human Machine Interface Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive HMI Market is projected to grow with a CAGR of more than 11% during the forecast period.
The rapid incorporation of mobility and cloud technology in the automobile sector is enabling the provision of seamless on-the-go-experiences such as advanced navigation, connectivity, and smart safety. Moreover, the increased importance of the mass customization across car segments is driving the need for personalized solutions. The evolution of the connected vehicle market is expected to speed up the process and this will enhance the growth in Human Machine interface market.
With an increase in global income levels of the people the people are demanding more and more enhanced user experience and entertainment systems in the vehicle. End users are emphasizing more on Advance Driver Assistance System (ADAS) and Human Machine Interface (HMI). These technologies provide great assistance while driving, finding routes, attending calls etc.
High Cost of Installation Likely to Hinder Growth
As the HMI systems are becoming more advance the overall coast and installation rates are going high owing to which the HMI systems are not registering the significant growth rate in the major developing economies such as India, China, Brazil, Argentina, etc., as the buyers are more price sensitive in these countries.
India is emerging as one of the fastest growing country and has become the fourth largest automotive market. However, India is highly price sensitive country and due to the recent adoption of government norms regarding pollution control (like BS-VI in India) has already hiked the vehicles costs. Because of the overall vehicle price hike, the HMI system which includes the display and touchscreens has become costlier than the earlier used analog instrument clusters.
Moreover, many vehicle OEMs are focusing on integrated central displays eliminating the instrument clusters behind steering. The manufacturing cost of primary display systems that provides an integrated view of car components and also a medium for ADAS visualization for safer driving.
North America Likely to Emerge as the Market Leader
North America is one of the early adaptors to many technologies even if they are high on cost. The people living in the region responds quickly to the new technology coming in the market and are often termed as early adaptors of new technology. Human machine interface is also in its initial days in automotive industry and companies are still performing R&D on the technology to enhance the user experience. During the forecast period it is expected that the region will experience highest growth with respect to other regions.
Europe is expected to be the second leader because of the presence of several luxury and passenger car makers such as Volkswagen, BMW, Audi etc. the region is expected to grow during the forecast period as these companies are spending heavily on technologies to enhance the user experience and comfort.
For instance, in March 2020, Cerence signed a global contract with a valuation of USD125 million with a large European car manufacturer for its industry-leading voice- and AI-based automotive assistants.
Competitive Landscape
The Automotive HMI market is fragmented, with many players accounting for significant amounts of shares in the market. Some of the prominent companies in the HMI market are Continental, Valeo, Visteon Corporation, Luxoft Technology, Clarion and others.
Companies are investing heavily in research and development for the innovation of new and advanced products and technologies that may help for new technology.
For instance, in January 2020, Carmaker Subaru announced that it will be including a Human machine interface in its next car Levorg. The company is currently using the HMI system in model such as legacy, the HMI system is developed by Denso and blackberry jointly, with this announcement from the carmaker it is expected that denso will be getting another big offer from Subaru for the Human machine interface system. This deal will enhance the revenues of the company.
Major players are also entering into partnerships and mergers for better reach to the customers, for instance, in January 2020, Denso and Qualcomm entered into a strategic partnership to develop next generation cockpit system.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Voice Control System
5.1.2 Central Displays
5.1.3 Heads-Up Display
5.1.4 Others
5.2 Vehicle Type
5.2.1 Economy Passenger Cars
5.2.2 Mid-Price Passenger Cars
5.2.3 Luxury Passenger Cars
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Continental AG
6.2.2 Visteon Corporation
6.2.3 Luxoft Technology
6.2.4 Valeo SA
6.2.5 Clarion Co. Ltd.
6.2.6 Alpine Electronics
6.2.7 Harman International Industries
6.2.8 Magnetic Marelli S.p.A.
6.2.9 Synaptic Incorporated
6.2.10 Altran Technologies
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/esl0e
