Human Machine Interface (HMI) Market Size to Reach USD 6570
BANGALORE, India, June 26, 2020 /PRNewswire/ -- A Human-Machine Interface (HMI) is a user interface or dashboard that connects a person to a machine, system, or device.
The global Human Machine Interface Market Size was 3660 Million USD in 2018 and is expected to 6570 Million USD by the end of 2025, growing at a CAGR of 7.6% between 2019 and 2025.
This report studies the Human Machine Interface (HMI) market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025. The report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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TRENDS INFLUENCING HUMAN MACHINE INTERFACE MARKET SIZE
Developments in HMI programming software to integrate the ability to manage a multi-vendor environment is expected to fuel the growth of HMI market size during the forecast period. Additionally, the benefits offered, such as remote operation, along with widespread use of HMIs in oil and gas treatment units and water treatment units for operating in harsh climates can also significantly increase the demand.
Advances in technology such as open platform architecture or OPA, resulting in enhanced migration processes is also expected to fuel the growth of HMI market size.
The emergence of a growing number of solution providers and the growth chatbots and digital assistants is expected to drive the HMI market size. HMI software 's ability to offer flexibility and reliability and to enhance production process efficiency is expected to drive demand for the HMI market over the forecast period.
As the automotive industry experiences rapid changes in manufacturing technology, upgrade has become an unavoidable aspect of this industry. The automotive industry is likely to contribute significantly to the growth of the HMI market as these solutions are extensively deployed in manufacturing units for almost all machines and other supporting functions.
FACTORS THAT CAN HAMPER THE GROWTH OF HUMAN MACHINE INTERFACE MARKET SIZE
Factors such as the rising need for change in the business process to incorporate HMIs along with high upfront capital may have adverse effects on market development. Furthermore, awareness regarding HMIs among management and lower-level staff along with the lack of experienced professionals may also affect industry growth.
HUMAN MACHINE INTERFACE MARKET SHARE ANALYSIS
During the forecast period, the embedded HMI solutions segment is expected to dominate the HMI market, as it offers multiple benefits. A connected embedded device is part of a smart system; it is connected to a network that enables fast communication between two machines and makes easy access to the operator.
It is projected that the pharmaceutical industry will grow at the highest CAGR between 2020 and 2025. Since pharmaceutical manufacturing processes are highly complex, it is important to properly control all processes at a manufacturing plant to achieve operational performance. Assets used in manufacturing must be constantly tracked, and this can be achieved effectively using HMI solutions.
Based on the region, North America is expected to hold the largest HMI market share. The U.S. and Canada are dominating the North American market due to the rising technological enhancements, the R&D activities in the areas of HMI, increased adoption of IoT, and machine-to-machine communication (M2M).
Asia Pacific region is expected to witness the highest growth rate during the forecast period. The rapid industrialization will drive the India and China HMI market. In addition to the easy availability of raw materials, inexpensive labor force, along with the rising number of automation projects, is expected to spur the demand.
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THE KEY MANUFACTURERS IN THIS MARKET INCLUDE
- General Electric
- Schneider Electric
- Rockwell Automation
BY THE PRODUCT TYPE, THE MARKET IS PRIMARILY SPLIT INTO
- Display Terminals
- Interface Software
- Industrial PCs.
BY THE END USERS/APPLICATION, THIS REPORT COVERS THE FOLLOWING SEGMENTS
- Food & Beverages
- Oil & Gas
- Aerospace & Defense.
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SIMILAR REPORTS :
● Automotive Human Machine Interface (HMI) Market Report
In 2018, the global Automotive Human Machine Interface Market size was 52700 Million USD and it is expected to reach 107080 Million USD by the end of 2025, with a CAGR of 10.7% during 2019-2025.
The automotive human-machine interface is classified into the instrument cluster, infotainment & telematics, HUD, and other according to the product type. As of 2018, the infotainment & telematics segment occupied the largest market, with about 60% share, reaching 25.32 billion dollars global in 2018. HUD digital instrument clusters and other new technology will keep high growth in the next few years.
● SCADA Market Report
The global Supervisory Control and Data Acquisition market size is projected to reach USD 44.75 Billion by 2026, from USD 32.94 Billion in 2020, at a CAGR of 5.24% during 2020-2026.
Supervisory Control and Data Acquisition is a system of software and hardware elements that allows industrial organizations to monitor, gather, and process real-time data, and to control industrial processes locally or at remote locations.
Demand for industrial SCADA systems is growing, as these systems help sustain productivity, process data for better decision making, and communicate system issues to help reduce downtime.
Continuous technical advancements in SCADA due to industry players' creative efforts have further improved the system's performance which in turn, is expected to increase the SCADA market size.
● Factory Automation Market Report
The global Factory Automation market size is expected to reach USD 368,372.4 million in 2025, from USD 190,882.2 million in 2017 growing at a CAGR of 8.8% from 2018 to 2025
● Touch Based Human Machine Interface Market Report
● Industrial PC Market Report
An industrial PC is a PC-based computing platform for industrial applications. The great demand from downstream application fields, such as medical, industrial automation, and electric power and energy, is expected to drive the growth of industrial PC market size.
In the next few years, it is estimated that the industrial PC industry will continue developing at 2.5% ~ 5.5% growth rates and this industry is promising.
● Human Machine Interface (HMI) Software Market Report
● Human Machine Interface (HMI) Enclosures Market Report
● Human Machine Interface Devices Market Report
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