The market for human-machine interfaces in the automotive industry will grow from its current market value of more than 11 billion US dollars to over 27 billion US dollars. The automotive human-machine interface market has recently become one of the massive revenue generating areas in the automotive sector as trends shift towards the introduction of intelligent vehicles. Due to the lack of advanced infotainment and digitized in-house vehicle design, drivers have traditionally not been able to operate the vehicle efficiently.
However, with the advent of new technology trends, the overall design structure of automobiles has changed significantly and the path for an integrated human being has changed -Machine interface leveled in vehicles. The development of connected cars to reduce the risk of accidents and improve the usability of vehicles has also contributed to increasing the market share of human-machine interfaces in automobiles.
With such next-generation technologies, it is not surprising that the HMI -Platform is phenomenally gaining in importance in the automotive industry as it enables vehicle-to-vehicle communication and enables manufacturers to provide a wide range of services such as on-board. supports media streaming, personal assistant and predictive maintenance services.
The global automotive human-machine interface market will continue to generate significant revenue given the increasing interest of automakers in integrating their models with safer, more attractive and more fun features. It has been shown that the core players in the industry are actually expanding their manufacturing capacities as the demand for intelligent navigation, self-driving functions and telematics technologies continues to take automobile production by storm.
Beyond conventional vehicle systems, the increasing popularity of autonomous vehicles in the will have a notable impact on automotive HMI market trends for years to come. With a view to the changing trends towards the increasing spread of autonomous vehicles around the world, companies involved in the development of human-machine interfaces are developing innovative software packages. A few days earlier, for example, the leading provider of advanced semiconductor solutions, Renesas Electronics Corporation, presented a new microprocessor unit to accelerate and simplify the development of modernized HMI and camera-based applications.
The newly developed software interface can be used for the operation of video surveillance systems, Fingerprint access controls, information and communication technology applications that have been used in automobiles. The growing popularity of HMI for advanced management of vehicle systems will drive future product demand.
Meanwhile, motorcycle manufacturers are also integrating HMI technology into the vehicle to improve performance, driving experience and safety. A few weeks earlier, the British electric motorcycle manufacturer had brought a fully electric motorcycle with a man-machine interface onto the market. The development of e-bikes to promote high performance and energy security will significantly affect the demand for HMI. In addition, in view of the future energy benefits and depletion of fossil fuel resources, most regional governments have implemented a supportive regulatory framework to improve the use of electric vehicles, which also stimulates product demand.
Such product innovation and capacity expansion trends promise one of the most important To be the driver of the commercialization potential of the global automotive HMI market. A report from Global Market Insights, Inc. sheds light on the growth curve of the automotive human-machine interface market and further predicts that global valuation will exceed USD 27 billion by 2024, with an estimated CAGR of 12% over 2018-2024 . The report also highlights that when it comes to vehicles, the passenger car segment will be the most lucrative drive to invest in, as it will account for an estimated 80% of the global automotive HMI industry market share by 2024.
Ronak has an electrical engineering degree , writes for Technology Magazine and has extensive experience in digital marketing. He explores how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and fun …
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