Focus on greater driver assistance systems, growing demand for enhanced user experience and improved real-time monitoring of vehicle for the driver have fueled the growth of global automotive HMI market
PORTLAND, Oregon, April 4, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Automotive HMI Market by Product (Central Display, Instrument Cluster, Head-up Display, and Others) and Technology (Visual Interface, Acoustic, Mechanical, and Others): Global Opportunity Analysis and Industry Forecast, 2018 – 2025." According to the report, the global automotive HMI market contributed to $14.8 billion in 2017 and is projected to reach $33.5 billion by 2025, growing at a CAGR of 11.1% during the forecast period, 2018-2025. The report offers a detailed analysis of drivers & opportunities, changing market trends, competitive landscape, key segments, and market size & estimations.
Focus on greater driver assistance systems, growing demand for enhanced user experience and improved real-time monitoring of vehicle for the driver have fueled the growth of global automotive HMI market. On the other hand, high costs associated with HMI products have happened to retrain the growth to some extent. However, enhancement in vehicle controls and smart access have created multiple opportunities in the segment.
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Central display to maintain its leadership status by 2025
Based on product type, central display accounted for more than two-fifth of the total market in 2017 and is expected to dominate during the forecast period. This is due to the integrated approach of displaying contents of infotainment systems and connected platforms. The head-up display segment is anticipated to grow at a CAGR of 12.8% throughout the period, thereby coming out as the fastest growing segment.
Visual Interface to dominate during the period
Based on technology, visual interface contributed to nearly four-fifth of the market in 2017 and will retain its top status all throughout 2018-2025. The integrated primary display systems and better visualization of data gathered through sensors and ADAS systems have spurred the growth.
Asia-Pacific to contribute the major share by 2025
Based on region, Asia-Pacific held the major share in the market in terms of revenue in 2017, contributing more than one-fourth of the total share, owing to rise in ADAS and autonomous driving capability along with enhancement in vehicle interiors. North America is expected to grow at the highest CAGR of 11.9% throughout the tenure. Increase in sales of vehicles in the region along with rise in per-capita purchase power of people have acted as the prime reasons for high market share in the province.
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, Nuance Communications Inc., 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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In 2017, by type, the augmented reality segment dominated the global automotive AR and VR market, in terms of revenue. In addition, based on application, the R&D segment is expected to continue its lead throughout the forecast period. At present, North America is the highest revenue contributor and is expected to maintain its lead throughout the forecast period, followed by Asia-Pacific, Europe, and LAMEA.
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