Ambient Lighting Solutions Becoming Popular as Smart Lighting Solutions
Automotive HMI Industry Future Trends, Prominent Players, Industry Impact and Forecast by 2030
The global automotive human-machine-interface (HMI) market generated a revenue of $18,822.3 million in 2019 and is predicted to attain a value of $55,318.4 million in 2030, advancing at a CAGR of 10.8% between 2020 and 2030. The key factors augmenting the growth of the market are the rapid advancements in IoT, virtual reality (VR), and augmented reality (AR), and connectivity technologies, their increasing integration in HMI solutions, and the rapid digitization in vehicles.
The soaring disposable income of people and the rising sales of premium vehicles are the other major factors fueling the expansion of the automotive HMI market across the globe. Another key factor causing the surge of the market is the increasing incorporation of safety features in automobiles all over the world. This is mainly because of the rising prevalence of road accidents in several countries, because of various human errors.Request
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These
displays project essential information and stats such as system warnings,
multimedia information, and driving status on the windshield of the car, which
improves the overall safety of the vehicle and enhances the driving experience.
Geographically, the Asia-Pacific (APAC) automotive HMI
market generated the highest revenue in the years gone by. Further, the
market will exhibit the highest CAGR in the forthcoming years, as per the
estimates of P&S Intelligence, a market research company based in India.
The
main factor driving the expansion of the automotive HMI market in
the APAC region is the rising requirement for passenger cars in the APAC
countries. The surging disposable income of people, on account of the rapid
economic growth of these countries, is increasing their purchasing power, which
is, in turn, boosting the sales of automobiles in these countries. Due to these
reasons, the market will grow at an explosive pace in this region in the
upcoming years.
Hence,
it can be said with certainty that the market will prosper all over the world
in the forthcoming years, on account of the rising incorporation of safety
systems in vehicles and the increasing consumer preference for premium vehicles
equipped with advanced safety features and other technologies over the
conventionally used cars.
Why is Customer Satisfaction Important and how can Speech Analytics Aid in improving it?
Acoustic Vehicle Alerting System Market to be over $10,578.8 Million Investment Opportunity by 2030
The global acoustic vehicle alerting system market is predicted to advance at 11.9% CAGR from 2020 to 2030 and reach a valuation of $10,578.8 million by 2030. This would be because of the rising incorporation of acoustic vehicle alerting systems (AVAS) in electric vehicles including both passenger cars and two-wheelers. According to the findings of P&S Intelligence, a market research company based in India, as many as 24.7 million units of such systems were installed in electric vehicles in 2019.
The increasing pollution levels in several countries, rising consumer preference for electric vehicles over the fossil fuel-powered automobiles, surging implementation of strict emission norms and regulations, and the provision of subsidies, grants, and tax rebates by the governments of various countries on electric vehicles are the main factors propelling the acoustic vehicle alerting system market growth across the globe. Additionally, the incorporation of AVAS is increasingly being made necessary in EVs for enhancing pedestrian safety.
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Globally, the acoustic vehicle alerting system market is predicted to register the highest growth in the Asia-Pacific (APAC) region in the future years. This is because of the mushrooming sales of EVs in China, which is home to the largest EV industry in the world with sales of over 90% of the total electric two-wheeler sales (15 million units of scooter, motorbike, and moped) and nearly 50% of the total electric car sales all over the globe in 2019.
Hence, it can be said with full surety that the market would demonstrate explosive growth throughout the world in the upcoming years, mainly because of the growing adoption of electric vehicles and the rising enactment of government regulations all around the world that mandate the incorporation of AVAS in electric vehicles.
What Advantages of Hybrid Cloud are leading to Growth of DWaaS Market?
Out of these, the analytics division is predicted to witness the fastest growth during the forecast period, owing to the increasing investments in AI and data analytics. The penetration if these technologies is growing due to the fact that companies are looking for predicting consumer behavior and preference for offering them with enhanced experience. The reporting division held the major share of the market in 2019.
Geographically, North America dominated the DWaaS market in 2019 and is further expected to account for the major share of the market during the forecast period as well. The increasing use of data analytics in healthcare, BFSI, government, and retail and e-commerce industries and rising demand for personalized services from consumers are driving the growth of the regional market. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period, owing to the rising adoption of cloud-based data warehousing solutions by financial institutions, banks, and insurance companies in the region.
German Autonomous Vehicles Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report
The German fully autonomous vehicles market is predicted to exhibit a CAGR of 20.2% between 2020 and 2030 andattain a valuation of $28.0 billion by 2030, as per the estimates of P&S Intelligence, a market research firm. The German autonomous vehicles market size is being driven by the increasing implementation of various government initiatives that encourage the deployment of autonomous vehicles in the country and the rising requirement for a more efficient and safer driving option all over the country.
The German government was
the first one in the entire world to authorize fully and semi-autonomous
driving systems. The government announced its plans to build autonomous driving
facilities and infrastructure in the country in December 2016. This was
followed by an amendment to the Road Traffic Act in June 2017, which allowed
drivers to give away driving controls to autonomous vehicles. As a result,
there are many semi-autonomous automobiles (level 1—3) running on German roads
today.
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When vehicle autonomy is
taken into consideration, the German
autonomous vehicles market is divided into fully autonomous and
semi-autonomous vehicles. Of these, the semi-autonomous vehicles had 100% share
in the market in the years gone by. However, this will change in the future and
the fully autonomous vehicles category will register the highest CAGR in the
market between 2023 and 2030, owing to the development of fully autonomous
vehicles, which are predicted to hit the market in 2023.
The German autonomous vehicles market is also divided, depending on
application, into ride hailing, motor coaches, personal cars, transit buses,
and logistics. Out of these, the motor coaches category is predicted to exhibit
the highest CAGR in the market in the coming years. This would be because of
the rising popularity of shared autonomous vehicles all over the country, on
account of the growing consumer preference for these services over the personal
ownership of vehicles.
Hence, it can be concluded
that the market would demonstrate rapid expansion in the future years,
primarily because of the rising implementation of initiatives by the government
that support the deployment of autonomous vehicles and the growing consumer
demand for safer and more efficient vehicles in the country.