Indian Automotive HMI Market Witnessing a Great Growth Landscape for the Next Few Years

Indian automotive HMI market is projected to reach $1 billion by 2023 by P&S Intelligence.

According to a research report published by P&S Intelligence, the Indian automotive HMI market is projected to grow at a soaring pace during the forecast period. 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.

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The share of premium cars in the total cars sales is low in India, as buyers in the country are highly cost-sensitive. However, this category is witnessing a significant growth. A typical customer of premium cars is less cost-sensitive and expects the latest technologies and comfort features to be present in the car cabin. HMI products such as instrument clusters, are expensive and at nascent phase of growth, thus, they get installed in premium cars before budget cars. Hence, the increasing demand and sales of premium cars in the country offer opportunities for the automotive HMI market growth in India.

Events such as illegal access to various car applications or bypassing the in-vehicle connectivity system can be possible restraints for the HMI market. A malware in a car system can be spread by hacking into manufacturers’ or dealers’ web portal and the hacker can access the data stored in the car’s computer system. With the penetration of HMI systems in automobiles, a variety of personal information such as address books, location data, and credit card numbers are now entering and leaving the confines of the vehicles. The vehicle related cyber security threat is expected to increase with the growing sales of connected cars.

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Some of the major players operating in the Indian automotive HMI market are Nippon Seiki Co. Ltd., DENSO Corporation, Alps Electric Co. Ltd. and Alpine Electronics Inc.

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