The automotive HMI market is projected to grow from USD 23.9 billion in 2023 to USD 40.2 billion by 2028, at a CAGR of 11.0%. The automotive HMI market is being propelled by a range of factors driving widespread adoption at the global level. Vehicle and passenger safety is a primary area of focus for regional regulatory authorities. HMI design aims to minimize distraction and provide easily accessible controls and information without diverting attention from the road. User experience (UX) is another important factor, with automakers striving to create intuitive and user-friendly interfaces that enhance convenience and overall satisfaction.
Market Dynamics
DRIVER: Advancements in artificial intelligence and machine learning
Advancements in Artificial Intelligence (AI) and Machine Learning (ML) are fueling the demand for Human-Machine Interfaces (HMIs) in the automotive industry. These cutting-edge technologies offer numerous advantages, such as enhancing driver safety, delivering personalized driving experiences, and mitigating the risk of unexpected failures. One significant application of AI driving the demand for automotive HMI is the integration of Natural Language Processing (NLP) technology. By enhancing the accuracy and interpretation of voice recognition systems, drivers can interact with the HMI more intuitively, resulting in safer and more convenient driving experiences. Another compelling example is the utilization of ML algorithms in gesture control systems. AI and ML technologies are instrumental in improving driver safety and convenience by analyzing driver behavior, predicting their preferences, and customizing the HMI accordingly. These advancements are revolutionizing the automotive HMI landscape, responding to the evolving needs of drivers, and propelling the demand for more sophisticated and user-friendly HMIs in the industry.
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OPPORTUNITY: Growing innovations in autonomous mobility solution
The rise of autonomous vehicles is reshaping the role of drivers from active control to passive monitoring. This shift necessitates the development of advanced HMIs that effectively communicate information to drivers while keeping them engaged. HMI must evolve to support new scenarios like driver-vehicle handover and emergency responses. For example, Waymo, an Alphabet Inc. subsidiary, has created HMI technology that provides real-time route information and allows passengers to request changes through voice commands. This interface ensures passengers feel safe and at ease in autonomous vehicles.
Similarly, Cruise, a self-driving car company, utilizes sensors and cameras to present real-time surroundings to drivers, enabling informed decision-making. Intellias (US), Star (US), and Boréas Technologies (Canada) are also notable HMI developers. The continuous developments in autonomous vehicle technology offer an opportunity for automotive HMI providers to create innovative interfaces that effectively communicate with drivers and passengers, leading to revenue growth and addressing emerging challenges in this market segment.
Luxury Passenger Cars are predicted to be the largest application for Automotive HMI.
The automotive HMI market is expected to be dominated by luxury passenger cars as the demand for premium vehicles has grown significantly in recent years. According to MarketsandMarkets Analysis, the overall share of passenger vehicles (Class D and above) stood at >30% in 2022, which was ~20% in 2018 in Asia Pacific, Europe, and North America. These premium vehicles strongly emphasize premium features, pay attention to customer needs, integrate cutting-edge features, and generally command higher price tags than mass-market vehicles. This higher pricing allows luxury car manufacturers to install advanced HMI solutions such as the high-resolution touchscreen display with multiple connected capabilities, speech recognition and voice command, gesture recognition, HUD, and voice recognition system. The Mercedes-Benz S-Class, BMW 7 Series, Audi A8, and Tesla Model S are examples of luxury passenger car models that feature various HMI products. Thus, rising consumer acceptance of premium vehicles, especially in developing nations, would enable OEMs to standardize multiple automotive HMI products in this segment to provide additional comfort and a premium feel.
Major players operating in the automotive HMI market are Continental AG (Germany), Luxoft (Switzerland), Aptiv (Ireland), HARMAN International (US), Synaptics Incorporated (US), and Visteon Corporation (US).
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