NEW YORK, May 21, 2018 (GLOBE NEWSWIRE) -- According to the new market research report published by P&S Market Research, the Indian automotive HMI market is projected to reach $1 billion by 2023, the growth of the market is majorly driven by the growing in-vehicle connectivity, rising demand for enhanced user experience and safety features, and increasing passenger car sales in the country.
Based on product, the Indian automotive HMI market is categorized into steering mounted controls, touch screen display, multifunction switches, head-up display (HUD), instrument clusters and rear seat entertainment (RSE). Of these, the touch screen display category is estimated to account for the largest share in the market, driven by its increasing adoption in medium category cars.
Request to get the sample pages: https://www.psmarketresearch.com/market-analysis/india-automotive-hmi-market/report-sample
On the basis of end-use, the Indian automotive HMI market is segmented into economy, medium, and premium cars. On the basis of value, the medium car category held the largest share in the automotive HMI market of the country in 2017, accounting for more than 62%, due to increasing HMI penetration in these cars. However, premium car is expected to be the fastest growing category during the forecast period, due to its increasing sales in the country.
On the basis of access, the Indian automotive HMI market is categorized into multimodal HMI and standard HMI. Standard HMI access held a larger revenue share, at more than 90%, in 2017, due to lower cost of these HMIs when compared to the multimodal ones. However, multimodal HMI is expected to witness faster growth during the forecast period, due to increasing demand for premium and comfort features in passenger cars. Benefits offered by multimodal HMI, such as improved recognition and faster interaction, are likely to swell their adoption in passenger cars.
The HMI sales in the country is evenly distributed in the northern, southern and western regions of the country, with the western part of the country accounting for the maximum share, contributing more than 28% in automotive HMI market in 2017. The HMI sales in the eastern region of the country remains low, due to lower economic growth and low income levels in this part of the country.
Car sales in India have witnessed a significant growth in the last decade, driven by the share of young population, rising income levels, and urbanization in the country. The sales of passenger cars would continue to witness a strong growth during the forecast period, thus, driving the Indian automotive HMI market.
Browse report overview with 46 tables and 28 figures spread through 98 pages and detailed TOC on "India Automotive HMI Market"at: https://www.psmarketresearch.com/market-analysis/india-automotive-hmi-market
Additionally, increasing urbanisation in the country is leading to growing demand for passenger cars from Tier1 and Tier2 cities in the country. According to the census data, the population residing in urban areas increased from 28.5% in 2001 to 31.2% in 2011. Rising passenger car sales is increasing the sales of HMI products such as steering mounted controls, touch screen displays, and RSEs, thus, benefiting the Indian automotive HMI market.
Some of the major players operating in the Indian automotive HMI industry are Visteon Corporation, Panasonic Corporation, Continental AG, Robert Bosch GmbH, DENSO Corporation, Nippon Seiki Co. Ltd., Alpine Electronics Inc, Alps Electric Co., Ltd, Omron Corporation, ZF Friedrichshafen AG and Valeo SA.
More Latest Reports by P&S Market Research
Automotive HMI Market
On the basis of access, the automotive HMI market is categorized into multimodal HMI and standard HMI. Standard HMI access has been accounting for a larger revenue share in the global market till now. During the forecast period, multimodal HMI is expected to witness faster growth, due to increasing demand for premium and comfort features in passenger cars. Automakers and OEMs are progressively deploying complex multimodal HMIs due to the various benefits offered by it.
https://www.psmarketresearch.com/market-analysis/automotive-hmi-market
Connected Car Market
All major automotive manufacturers across the globe, are now concentrating on developing and implementing the connected car concept into their vehicles. Over half of the connected car industry revenue in 2023 is expected to come from integrated solutions. During the forecast period, embedded will remain the second preferred connectivity solution among connected car consumers.
https://www.psmarketresearch.com/market-analysis/connected-car-market
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact:
P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
