Increasing Passenger Car Sales Is Bolstering the Growth of the India Automotive HMI Market
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.
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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.
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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.
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