Automotive HMI Market Predictions by 2025: Growth Drivers and Trends
The global automotive HMI market generated $14.8 billion in 2017 and is expected to garner $33.5 billion by 2025, registering a CAGR of 11.1% during the forecast period, 2018-2025.
The growth of the global automotive HMI market is driven by the increasing demand for improved real-time monitoring of vehicle for the driver and enhanced user experience, along with a rise in focus on greater driver assistance systems. Additionally, enhancement in vehicle controls and smart access would provide lucrative opportunities to emerging market players in the near future. However, high costs associated with HMI products restrain the market growth.
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By product type, the central display segment generated more than two-fifths of the overall revenue in 2017 and is expected to continue its dominance through 2025. This is attributed to the integrated approach of displaying contents of infotainment systems and connected platforms. However, the head-up display segment is projected to register the highest CAGR of 12.8% during the forecast period.
Based on technology, the visual interface segment occupied nearly four-fifths of the total market share in 2017 and is poised to retain its top status through 2025. This is due to better visualization of data gathered through sensors & ADAS systems in integrated primary display systems.
Regionally, North America is poised to grow at the highest CAGR of 11.9% from 2018 to 2025, due to increase in sales of vehicles in the region along with surge in per-capita purchase power of consumers. However, Asia-Pacific is anticipated to retain its highest share in the global market through 2025, owing to rise in ADAS and autonomous driving capability along with enhancement in vehicle interiors in the region.
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The key players analyzed in the report include Robert Bosch GmbH, Visteon Corporation, Alpine Electronics, Inc., Samsung Electronics Co. Ltd. (Harman International Industries, Inc.), Panasonic Corporation, Valeo, Clarion Co. Ltd., Continental AG, and Nuance Communications, Inc. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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