Continental AG, Valeo SA, and Visteon Corporation together control 38% global market share of the Human Machine Interface (HMI) Industry
LEWES, DELAWARE, UNITED STATES, June 27, 2022 /EINPresswire.com/ — The Global Automotive Human Machine Interface (HMI) Solutions market has a total revenue of 15125 M USD back in 2016 and increased to 19330 M USD in 2021. We study the development law of the market in the past few years and establish a data model to analyze and deduce future market changes. Finally, we made the prediction that the value of the Automotive Human Machine Interface (HMI) Solutions markets can be 40035 M USD by 2028. The CAGR of Automotive Human Machine Interface (HMI) Solutions is 11% from 2021 to 2028.
An automotive human-machine interface is a simple interaction between computer software in automobiles and humans. With increasing finesse comes more opportunities for the human to control more features of the vehicle. Automotive Human Machine Interface can be of visual interface, acoustic interface, and many other forms.
Voice control systems, instrument clusters, head-up displays, multi-function switches, central displays, steering mounted controls, and rear-seat entertainment displays are some of the items working under the system. The automotive human-machine interface allows drivers and passengers to communicate with their vehicles more conveniently through smart features such as voice, touch screens, buttons, push rotary controllers, swipe and gesture, and even speech recognition technology.
The distraction-free features of the human-machine interface are making the user experience more comfortable and convenient. Additionally, various automobile manufacturers are focusing on implementing multi-information displays in cars to split the information based on the relevance of driver and passenger. The system also allows users to customize features of the software to improve the interaction with 2D and 3D graphics and driver augmented reality systems. This rise in the prevalence of autonomous and connected vehicles is projected to drive the global automotive human-machine interface market during the forecast period.
China was the largest revenue market with a market share of 27% in 2016 and 28% in 2021, an increase of 1%. In 2021, the Europe market share was 18%, ranking second. With the improvement of the economic level, the downstream demand continues to expand, and the technological level of these regions continues to improve, which will further promote the development of the market.
The industry concentrate rate is high. The top three companies are Continental AG, Valeo SA, and Visteon Corporation with a revenue market share of 15%, 13%, and 9% in 2021.
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