Market Research Future has recently added a new report on Human Machine Interface Market Size Share which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of Human Machine Interface Market Size Share.
The global human machine interface market is predicted to grow at a 9% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. A human-machine interface or HMI, simply put, is a component in an electronic device, which allows the user in communicating and interacting with the system or machine efficiently. Embedded HMI and standalone HMI are its different components. Owing to its alluring features and plentiful benefits, it has wide applications in different industries such as food and beverages, oil and gas, pharmaceutical, semiconductor, automotive, and others.
Various factors are propelling the global human machine interface market share. According to the recent MRFR report, such factors include the growing use of industrial automation equipment in the manufacturing sector, burgeoning demand for the smart automation solution, the emergence of industrial IoT, efficient monitoring in manufacturing plants, and rising adoption of industrial automation in the manufacturing industry. Additional factors adding market growth include demand for smart automation solutions, and growing need for monitoring and efficiency in manufacturing plants.
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On the contrary, price fluctuations, disruption in supply, reduction in production, lack of standardization, high installation cost, security and safety issues, lack of awareness among management-level individuals & lack of skilled experts, and the on-going COVID-19 impact are factors that may limit the global human machine interface market growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global human machine interface (HMI) industry based on end user, configuration type, and components.
By components, the global human machine interface market is segmented into software and hardware. The hardware segment is again segmented into advanced PC-based HMI, advanced panel-based HMI, basic HMI, and others. Of these, the software segment will lead the market over the forecast period.
Based on configuration type, the human machine interface market is segmented into embedded HMI and standalone HMI. Of these, the embedded HMI segment will dominate the market over the forecast period.
By end user, the global human machine interface market is segmented into food and beverages, oil and gas, pharmaceutical, semiconductor, automotive, and others. Of these, the pharmaceutical end user segment will command the largest share in the market over the forecast period.
Based on the region, the global human machine interface market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period.
The human machine interface market in the APAC region is predicted to have healthy growth over the forecast period. Growth in the industrial sector, implementation of technological advances in the manufacturing unit, and the growing popularity of machine-to-machine communication are adding to the global human machine interface market growth in the region. Additional factors adding market growth include developments in HMI solutions, extensive research and development activities, industries shifting manufacturing bases in the region to capitalize on the accessibility of cheap and skilled labor, presence of a leading manufacturing hub, and increasing adoption of automated technologies by discrete and process manufacturing industries.
The global human machine interface market in Europe is predicted to have sound growth over the forecast period, and in the RoW is predicted to have steady growth over the forecast period.
Eminent players profiled in the global human machine interface market report include Yokogawa Electric Corporation (Japan), Siemens AG (Germany), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Kontron AG (Germany), Honeywell International Inc. (U.S.), General Electric Co. (U.S.), Emersion Electric Co. (U.S.), Advantech Co., Ltd. (Taiwan), and ABB Ltd. (Switzerland).
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