The global HMI market is expected to generate revenues of more than $8 billion by 2023
Thursday, October 11, 2018
LONDON, Oct. 11, 2018 /PRNewswire/ -- The global HMI market is expected to generate revenues of more than $8 billion by 2023, growing at a CAGR of over 9% during 2017-2023.
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The increasing importance of safety, energy efficiency, better productivity, and sustainability will lead the expansion of the global human machine interface market. The implementation of SCADA and PLC in factory automation systems will transform the market over the next few years. The global HMI market is driven by growing demand from semiconductor fabrication plants that requires control centers, clean rooms, and assembling lines for effective equipment control. HMIs facilitate a high degree of customizations and are increasingly finding their application in equipment which is characterized by ruggedness and reliability in the human machine interface market. The market research report provides in-depth market analysis and segmental analysis of the global HMI market by technology, configuration, interface, end-user, and geography.
The report considers the present scenario of the global HMI market and its market dynamics for the period 2018?2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the human machine interface market. It also profiles and analyzes the leading companies and various other prominent companies operating in the human machine interface market.
HMI Market - Dynamics
The growing demand for enterprise networking and remote access is boosting the implementation of HMI PLC technology and augmenting the development of the global HMI market. The emergence of industrial Ethernet applications that help increase the productivity of manufacturing units and industrial automation will lead to the transformation of the global market. The development of systems that enable easy use and delivering superior consumer experiences will help players sustain the intense competition in the market. The focus on convenience and launch of enhanced surfaces will augment the growth of the global HMI market during the forecast period. The development of gesture recognition technology that ensures seamless communication and information transfer will propel the evolution of the global HMI market. Gesture recognition is the science of deciphering human gestures as input signals using mathematical algorithms. This includes the full body recognition or a small change in the facial expression. The implementation of gesture recognition systems will eventually make traditional input devices redundant in the global market.
HMI Market -Segmentation
This market research report includes a detailed segmentation of the market by technology, configuration, interface, end-user, and geography. Tactile segment dominated more than 2/3rd the market share in 2017, growing at CAGR of around 10% during the forecast period. The motion technology implemented in the market can detect motions, gyroscopes, and accelerometers. The integration of sensors with hardware enables devices to detect motion. The vendors are using embedded software solutions to make product improvements by refining operator interfaces functionalities and communication options of components by leveraging advancements in electronics.
The hardware segment dominated the majority of the market share in 2017, growing at a CAGR of around 9% during the forecast period. HMI software provides operators to manage industrial and process control machinery through Graphical User Interface (GUI). The development of innovative software solutions that help control and offer data acquisitions of SCADA applications in the human machine interface market. Chemical and petrochemical segment occupied around 1/3rd of the market share in 2017, growing at a CAGR of more than 9% during the forecast period. The introduction of systems that are robust, can withstand the harsh environment, and are resistant to dust, moisture, water, extreme temperatures, and exposure to harsh chemicals is driving the growth of the global human machine interface market.
-- Market Segmentation by Technology
-- Market Segmentation by Configuration
-- Market Segmentation by Interface
-- Market Segmentation by End-user
-- Chemicals & Petrochemical
-- Mining & Metallurgy
-- Paper, Packaging, & Printing
-- Food & Beverage
-- Oil & Gás
HMI Market -Geography
The global HMI market by geography is apportioned into North America, Europe, APAC, Latin America, and MEA. North America dominated the largest market share in 2017, growing at a CAGR of more than 10% during the forecast period. The demand for infotainment systems and hybrid vehicles across the North American region is driving the human machine interface market. The increasing focus on energy efficiency and environment-friendliness and their implementation at homes and workplaces is propelling the demand for technology-enabled control systems in the APAC market. The development of automated security and access control solutions will drive the growth of the APAC human machine interface market.
Market Segmentation by Geography
-- Other APAC Countries
-- North América
-- Latin America
Key Vendor Analysis
The global HMI market is witnessing a surge in demand for solutions from various industries and facing intense competition. The leading vendors are leveraging rapidly changing technologies to introduce innovations and upgrades in the human machine interface market. The market is moderately fragmented, and top players control over 50% of the total share. The companies are focusing on offering varied features such as quality, technology, and price to sustain the competition in the human machine interface market. The increasing investments in the development of new technologies will help vendors gain a competitive advantage in the global human machine interface market during the forecast period.
The major vendors in the global market are:
-- Schneider Electric
-- Rockwell Automation Inc.
-- Siemens AG
-- Mitsubishi Electric Corp.
-- Omron Corp.
Other prominent vendors include ABB Ltd., General Electric, Toshiba, Kontron AG, Honeywell International Inc., Panasonic Corp., Bosch Rexroth, Eaton Corp., Emerson Electric Co., and Yokogawa Electric Corp.
Key market insights include
1. The analysis of global HMI market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global HMI market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of global HMI market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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