The global automotive Human Machine Interface (HMI) market is anticipated to grow at a CAGR of 11.2% during the forecast period (2024-2031). The market growth is driven by the advancements in Artificial Intelligence (AI) and Machine Learning (ML. For instance, in March 2024, Visteon launched a new cockpit technology, integrating ADAS. This new technology integration is anticipated to promote the automotive human-machine interface market. Additionally, the integration of HMI technology to boost instrument cluster and user experience. For instance, in March 2024, Arm launched a suite of new automotive technologies aimed at accelerating the development of AI-powered vehicles by up to two years. This includes next-generation Armv9 processors specifically designed for the demand of autonomous driving, along with the introduction of server-class processing power and virtual prototyping tools to streamline the development cycle.
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The global automotive HMI market is segmented by product type (into voice control systems, central displays, heads-up displays, and others (steering-mounted controls, rear-seat entertainment)), technology (into mechanical interface, acoustic interface, visual interface, and others (haptic interface)), vehicle type (into passenger vehicles and commercial vehicles) and geographies (into North America, Europe, Asia Pacific and the Rest of the World).
Market Outlook and Recent Development
- The visual technology segment holds the major share of the market and is projected to be the fastest-growing segment during the forecast period. This is due to the growing demand for convenient features, and adaptive solutions, and the increasing focus of carmakers on eliminating distractions by offering visuals such as instrument clusters and touch-screen displays.
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- For instance, in June 2022 Epic Games collaborated with Volvo Cars real-time 3D content which will revolutionize the role of the in-car HMI.
- North America holds a major market share, owing to the higher adoption rate of HMI in developed countries such as the US and Canada, coupled with advanced infrastructure.
- The regional market is also supported by the increasing demand for efficient logistics and transportation services due to the expanding commercial sector.
- The European region is the fastest-growing automotive HMI market owing to the growing awareness and regulations of road safety. The regional market growth is also supported by the early adoption of ADAS features, increased awareness of traffic safety laws, and the high rate of use of smart trucks in Europe.
- Strict government regulations about comfort and safety on the roads will further increase demand for HMI in the European region, motivating businesses to make huge substantial market investments.
- For instance, in June 2022, Valeo signed a contract with the BMW Group to develop and produce the ADAS domain controller, which is capable of managing all data flows from all ADAS sensors in BMW Group vehicles based on the ‘Neue Klasse’ platform.
The major companies serving the global automotive HMI market include Robert Bosch GmbH, Continental AG, Denso Corp, Aptiv Global Operations Ltd., and Infineon Technologies AG, among others. The market players are contributing significantly towards market growth by the adoption of various business strategies. For instance, in June 2022, Volvo Cars and Epic Games collaborated for a real-time photorealistic visualization inside next-generation Volvo cars with Unreal Engine. This provides its customers with high-quality graphics inside the cabin.
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