Automotive Human-Machine Interface Market
Automotive Human-Machine Interface (HMI) Market is growing rapidly due to increasing demand for the safety of vehicles and personalized driving experience
ALBANY , NY, US, October 22, 2021 /EINPresswire.com/ — According to the report, the global automotive human-machine interface market is projected to reach US$ 26 Bn by 2031, expanding at a CAGR of 6% during the forecast period. Human-machine interface (HMI) enables vehicle occupants to provide input to the vehicle systems in order to obtain desired output. Various types of interfaces that respond to different inputs include voice command, hand gesture, and face recognition. The continuous development in automotive systems has led to the emergence of connected and autonomous vehicles. These vehicles are integrated with multiple HMI systems, such as displays, speech and gesture recognition software, mechanical keys, and buttons, which interpret, analyze, and perform the commands of vehicle occupants. This rise in popularity of autonomous and connected vehicles is projected to propel the global automotive human-machine interface market.
Expansion of Automotive Human-Machine Interface Market
Automakers are continuously improving the ride experience and safety of their vehicles by integrating advanced technologies. Government authorities of multiple nations have also enacted stringent laws for vehicle safety, which mandate integration of some sort of ADAS features in vehicles. HMI systems transmit information related to vehicle performance to the driver, which enables the driver to take early action and thus prevent adverse situations. Thus, increasing focus on vehicle safety is a major factor boosting the global automotive human-machine interface market. Based on product type, the infotainment segment held a dominant share of the global automotive human-machine interface market, in terms of revenue, in 2020. This high share held by the infotainment segment can be attributed to a rise in the demand for infotainment systems, as most of the automakers have integrated infotainment systems as a standard feature in their vehicle models owing to increasing sales of automobiles.
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Based on interface, the mechanical segment held a major share of the automotive human-machine interface market in 2020. Ease of operation and low cost of mechanical interface make it a highly popular HMI. However, as technologies such as artificial intelligence are gaining maturity, the voice command and gesture recognition segments are anticipated to expand at higher CAGR during the forecast period.
Regional Analysis of Automotive Human-Machine Interface Market
In terms of region, the global automotive human-machine interface market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive human-machine interface market in 2020. This high share held by Asia Pacific is due to significant presence of automakers in the region, which boosts the production and sale of vehicles.
Automotive Human-Machine Interface Market Players
Prominent players operating in the global automotive human-machine interface market include ALPS ALPINE CO., LTD., CAPGEMINI ENGINEERING, Clarion, Continental AG, Denso Corporation, EAO AG, Harman International, Luxoft, Marelli Holdings Co., Ltd., Nuance Communications Inc., Panasonic Corporation, Robert Bosch GmbH, Socionext Inc., Tata ELXSI, Valeo SA, Visteon Corporation, and Yazaki Corporation.
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COVID-19 Impact on Automobile Sector Hinder Demand for Automotive Human-Machine Interface
The imposed worldwide lockdown to protect people from severely affecting with coronavirus nears its end and corporations plan to revive operations. It will be a fortnight of preparation to leap out business operations. The COVID-19 pandemic has had a sudden and drastic impact on the globally integrated automotive industry. Impacts involve disruption in Chinese automotive parts’ shipping, large-scale manufacturing delays across Europe, and closure of numerous equipment plants in the United States. This is putting serious pressure on the automotive human-machine interface market, which is already coping with a downshift in the global demand and likely giving up to merger & acquisition activities.
The pandemic has exposed various challenges for the automotive sector. Many nations are still preparing for a broader spread of the virus. Countries including Italy, South Korea, and Japan are majorly affected among major industrialized economies. The majority of the automobile sector in these regions has a severe impact on the economy and most of them lacked the staff to run a full production line. However, to subdue the unprecedented challenge, the auto industry players embraced digitization to adjust to the new normal to serve consumers, while learning to be nimble-footed to keep companies running under COVID-19 standard operating procedures and focusing on economic health by decreasing costs and generating free cash flows. Furthermore, with rapid production and distribution of COVID-19 vaccines and drugs, the situation is expected to become normal very shortly, and businesses are preparing to overcome the losses by speeding up the production, advertisements, and quality, which is likely to improve demand for the global automotive human-machine interface market in the upcoming future.
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Source: EIN Presswire