Automotive HMI Market Size Expected to Reach $1.7 Billion with CAGR of 7.5% by 2027 – IndustryARC

Automotive HMI Market Drivers Rise in Demand for Connected Vehicles

HYDERABAD, TELANGANA, INDIA, December 26, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Automotive HMI Market is estimated to surpass $1.7 billion mark by 2027 growing at an estimated CAGR of more than 7.5% during the forecast period 2022 to 2027 on account of increasing demand of control panels and connected devices in the automotive sector. The market growth is being propelled by rising demand from IoT devices and heads up displays in Commercial vehicles. Human-machine interface (HMI) is a software component of certain devices which are designed to handle human-machine interactions. This interface is a combination of software such as artificial intelligence and hardware which takes inputs from the users and translates the inputs as signals for machines that, in turn provide the required result to the user. This human-machine interface technology is used in wide range of applications in autonomous/self-driving vehicles, electric vehicles is expected to be driven by increasing trends of automotive IoT and PLC applications. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

1. The surge in demand of multi-touch screen technology for advanced applications in automotive industry such as IoT, Telematics and Control technology is set to drive the demand and growth for the Automotive HMI Market during the forecast period.

2. The concept of integrating HMI with mobile and wireless devices for better connectivity to fuel the global Automotive HMI Market demand.

3. The price of the advanced software for data visualization and interpretation could pose a threat to the adaptation of the HMI devices. However, the functions performed by these HMIs and the ability of these devices to cut short time and to bring down the operating expenses will certainly overpower the constraints and challenges for the Automotive HMI Market.

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Segmental Analysis:

1. The market for HMIs are all set to propel into the automotive sector with a broad range of applications. The use of digital signage, interactive IoT, Telematics and automation systems is perceived to propel in the coming years on the back of the initiatives towards a digitized world, closely following the growth of Automotive IoT and Smart cars concept.

2. The Automotive sector is significantly driven by newer touch screen types such as SAW which is set to grow at 9.9% CAGR through 2027. However these automotive markets typically adopt capacitive and resistive HMI solutions.

3. The Asia Pacific market for the HMIs is forecast to witness high rate of adaptation compared to other regions at 9.2% CAGR through 2027. The presence of a large number of developing markets in the APAC is one of the key factors driving the growth of the Automotive HMI Market.

Competitive Landscape:

The top 5 players in the Automotive HMI industry are –

1. Delphi

2. Continental

3. Robert Bosch

4. Valeo

5. Synaptics

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