AI-Based Automotive HMI Software Market to Reach $4.6 Billion Worldwide by 2025, According to Tractica
BOULDER, Colo.--(BUSINESS WIRE)--May 8, 2019--As vehicles grow increasingly connected and become packed with sensors, artificial intelligence (AI)-based technologies have the potential to play a significant role in the human-machine interface (HMI), according to a new report from Tractica. Voice-enabled smart assistants for car controls, infotainment, and more will likely become the leading HMI in the coming era of the connected car. With momentum and regulatory demand for driver and occupant monitoring, emotion recognition and gesture recognition will become more prominent elements of HMI. Due to increasingly sophisticated computer vision algorithms, onboard compute power, and next-generation windscreen and other display technology, 3D augmented reality (AR) will also become an integral component of the connected car experience.
Tractica forecasts that the global market for AI-enabled automotive HMI software will increase from $462.8 million in 2018 to $4.6 billion by 2025. The market intelligence firm anticipates that the vast majority of this revenue will derive from voice and speech recognition applications, with smaller opportunities for driver face analytics and emotion recognition, along with gesture recognition.
“For the connected car, AI-based HMI focuses on driver controls, driver/occupant monitoring/safety, and infotainment. For Level 5 autonomous vehicles, AI-based HMI focuses on occupant monitoring and infotainment,” says principal analyst Mark Beccue.
Beccue adds that most experts believe the connected car market will, with the help of aftermarket devices, grow rapidly for a number of years, then slowly decline. Meanwhile, the fully autonomous vehicle era will likely grow more slowly due to regulatory and technical challenges before it eventually eats away at connected car market share to a point where autonomous vehicle transportation represents the majority of the automotive market. “Fast-forward several years to when humans become passengers and vehicles become moving entertainment centers in the autonomous vehicle era, and AI-based automotive HMI technologies will prove invaluable and morph into different use cases,” says Beccue.
Tractica’s report, “Automotive Human-Machine Interfaces”, examines the market ecosystem and conditions for AI-based automotive HMI, including global market trends, drivers, and barriers. Global market forecasts, segmented by use case and region, extend through 2025. The study also explores the use cases and AI technologies related to AI-based automotive HMI and provides profiles of key industry players. An Executive Summary of the report is available for free download on the firm’s website.
Tractica, an Informa business, is a market intelligence firm that focuses on emerging technologies. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Advanced Computing, Connected & Autonomous Vehicles, and Wearables & Digital Health. For more information, visit www.tractica.com or call +1.303.248.3000.
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