The global automotive human machine interface (HMI) market size was exhibited at USD 27.48 billion in 2022 and is expected to hit USD 64.52 billion by 2030, growing at a CAGR of 11.2% from 2022 to 2030.
Growing demand in the connected automobiles market, a focus on technology advancement among automotive manufacturers, and increasing sales of commercial vehicles and passenger vehicles are the factors driving the growth of the automotive human machine interface (HMI) market. As the demand for connected vehicles grows, so will the demand for HMI in vehicles. The usage of automotive human machine interface (HMI) in an automobile allows seamless interaction between the occupants and the vehicles. Automobile manufacturers are working to develop technology that will help get a larger market share. Thus, technological development will pave a way for the growth of the automotive human machine interface (HMI) market.
Report Highlights
Automotive Human Machine Interface (HMI) Market Report Scope
| Report Coverage | Details |
| Market Size in 2022 | USD 27.48 billion |
| Market Size by 2030 | USD 64.52 billion |
| Growth Rate from 2022 to 2030 | CAGR of 11.2% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| By Technology |
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| By Product Type |
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| By Vehicle Type |
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| Regions Covered |
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Regional Snapshot
North America is the largest segment of the automotive human machine interface (HMI) market in terms of region. The U.S. is the leading country in the North America automotive human machine interface (HMI) market. The surge in demand for electric vehicles is driving the growth of the market in the North America region.
Europe region is the fastest-growing region in the automotive human machine interface (HMI) market. The rising sales of luxury vehicles will lead to a higher installation of automotive human machine interface (HMI) in the vehicles, resulting the market growth. In the upcoming years, Germany is likely to dominate the European market during the forecast period.
Market Dynamics
Drivers
Increase in automotive sales globally
The rise in urbanization and increase in the standard of living has led to the growth in demand for automotive gadgets and automobiles across the globe. Emerging markets such as Japan, China, and India are creating opportunities for the growth of the automotive human machine interface (HMI) market by expanding manufacturing facilities. In addition, rising disposable income and a surge in vehicle sales around the world are driving the sales of automotive globally. As a result, the increase in automotive sales is driving the growth of the automotive human machine interface (HMI) market during the forecast period.
Restraints
High cost of automotive human machine interface (HMI)
The high cost of automotive human machine interface (HMI) systems that are installed in automobiles is preventing customers to buy products. The cost of HMI is high compared to instrument cluster devices. Furthermore, automobile manufacturers are more focused on integrated central displays, which eliminates the need for instrument clusters behind the steering wheel. Thus, the high cost of automotive human machine interface (HMI) is restricting the growth of the market during the forecast period.
Opportunities
Advanced features offered by automotive human machine interface (HMI)
The advancement in artificial intelligence and speech recognition technology is seeing rapid adoption for a variety of applications in automobiles. The incorporation of virtual assistants has improved driver and passenger convenience and comfort. The leading manufacturers were influenced by the pandemic to create touchless automotive human machine interface (HMI) systems. The rising popularity of voice command systems is contributing to the growth of the automotive human machine interface (HMI) market. Furthermore, a number of leading brands are investigating the potential of the automotive human machine interface (HMI) to expand offerings by incorporating autonomous vehicles. As a result, the advanced features offered by HMI are creating lucrative opportunities for the growth of the automotive human machine interface (HMI) market during the forecast period.
Challenges
Rising consumers' preference for connected phones and devices
The widespread use of smartphones is forcing key market players to reconsider their in-car connectivity strategies. Existing inefficiencies and poor execution of existing touchscreens and voice-based systems in an in-car automotive human-machine interface system are causing a significant consumer shift towards smartphone applications via an onboard speech recognition system. In order to shift data connection from the device to the vehicle, original equipment manufacturers (OEMs) and suppliers are increasingly focusing on improving the user experience. Thus, the rising consumers’ preferences for connected phones and devices is a huge challenge for the growth of the automotive human machine interface (HMI) market during the forecast period.
Some of the prominent players
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