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Automotive HMI Market Revenue Estimation, Global Size and Forecast Report to 2030

Asia-Pacific (APAC) is the largest market for passenger cars, and the rising demand for an enhanced user experience and safety features and growing customer preference for automotive HMI features in these vehicles are benefitting the growth of this category.

Rahul_Gautam
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Automotive HMI Market Revenue Estimation, Global Size and Forecast Report to 2030

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  1. Automotive HMI Market Analysis and Growth Forecast to 2030 The global automotive human-machine interface (HMI) market attained revenue of $18,822.3 million in 2019 and is predicted to reach a valuation of $55,318.4 million by 2030, exhibiting a CAGR of 10.8% from 2020 to 2030. The main factors fueling the progress of the market are the development of electric, autonomous, and connected vehicles and the increasing measures being taken by various regulatory bodies and governments for integrating safety features and systems in vehicles. Geographically, the automotive human-machine interface (HMI) market registered the highest growth, in value, in the Asia-Pacific (APAC) region during 2014–2019. The APAC automotive HMI market is also predicted to demonstrate the fastest growth in the world in the upcoming years. This is ascribed to the greater requirement of passenger vehicles in the APAC region in comparison to the other regions in the world. Additionally, the rising disposable income and spending power of people in the various APAC nations will further boost the sales of automobiles in the region in the forthcoming years. Request to Get the Sample Report@ https://www.psmarketresearch.com/market- analysis/automotive-hmi-market/report-sample The COVID-19 pandemic has significantly impacted the growth of the global automotive industry, which has, in turn, affected the progress of the automotive HMI market. Due to the lockdown imposed in several nations for curbing the spread of the infection, many automakers and OEMs had to shut down their factories and manufacturing plants, which in turn, affected their revenue flow. Furthermore, it is expected that the pandemic would cause the transformation and consolidation of the automotive HMI market in the countries where the market is not dominated by a few major players and more fragmented in nature, such as India and China. In the automotive HMI industry, a single company/vendor/service provider doesn’t usually provide everything and instead, get into partnerships and collaborations with one another for the different hardware and software components required for manufacturing the end product. For instance, HARMAN International Industries Inc. and Volkswagen AG entered into a partnership with each other in October 2019 so that the former can integrate its audio systems and solutions in the latter’s vehicles all over the world. The partnership was inaugurated with the launch of Volkswagen AG’s Golf 8 at a grand event in Wolfsburg, Germany.

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