Human Machine Interface Driven By Increasing Adoption Of Industrial Automation Equipment In Manufacturing Sector Till 2022: Grand View Research, Inc.

November 06 16:10 2018

Grand View Research, Inc. – Market Research And Consulting.
The global Human Machine Interface (HMI) market is anticipated to reach USD 6.31 billion by 2022, according to a report by Grand View Research, Inc. Developments in HMI programming software to integrate multi-vendor environment management ability is expected to fuel market growth over the coming years.

According to a report published by Grand View Research, Inc.; the global Human Machine Interface (HMI) market is expected to reach nearly USD 6.31 billion by 2022. It is anticipated to be driven by increasing adoption of industrial automation equipment in manufacturing sector. Product integration with analytics software can improve quality and productivity. This factor is anticipated to propel demand over the forecast period (2014 to 2025). Advancements in the programming software for HMI enables multi-vendor environment management. This factor is anticipated to further spur market growth in the years to come.

There is an upward trend of protocol conversion for data exchange between all the connected devices. This trend is anticipated to boost growth of the market for human machine interface. Additionally, improvements in migration processes with rapid technological developments like Open Platform Architecture (OPA) can positively impact the market. Elevated device mobility due to incorporation of Wi-Fi and Bluetooth technology in HMI products coupled with demand for high-resolution screens can further propel market expansion. Constant upgrades and replacements of old computer processors are also projected to drive the market. However, high installation costs may restrict the growth to some extent.

Full Research Report On Human Machine Interface (HMI) Market Analysis: www.grandviewresearch.com/industry-analysis/human-machine-interface-market

Europe human machine interface market share by product, 2012 – 2022 (USD Million)

Europe human machine interface market share by product, 2012 - 2022 (USD Million)

The worldwide Human Machine Interface (HMI) market can be segmented on the basis of product, application, and region. Based on product, the market can be trifurcated into display terminals, industrial PCs, and interface software. The interface software segment is projected to register a CAGR exceeding 10% during the forecast period. This growth can be ascribed to high adoption of PC-based open source monitoring and controlling systems.

The industrial PCs segment is expected to witness significant CAGR on account of demand for high processing power and storage space. The display terminals segment is expected to grow on account of advancements like Thin Film Transistor (TFT)-based displays. Availability of an array of display technologies coupled with introduction of Industrial Internet of Things (IIoT) can further boost the demand in near future.

As per application, the market for human machine interface can be categorized into automotive, packaging, oil and gas, healthcare, food and beverages, and aerospace and defense. Oil and gas led with over 20% market share in terms of revenue in 2014. Benefits of HMIs such as operating in adverse climate conditions and providing flow of information for troubleshooting without enhanced manufacturing is driving the demand. In addition, rising demand for industrial automation driven by growth in shale oil exploration activities in North America can boost the segment growth.

Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/electronic-devices

The automotive segment is anticipated to showcase significant rise in demand owing to benefits of HMI systems regarding driver safety and security. Incorporation of systems such as Autonomous Cruise Control (ACC) system, Lane Departure Warning (LDW), and Advanced Driver-Assistance Systems (ADAS) are expected to boost the demand. Integration of speech input/output system with human machine interface can reduce driver distraction.

Geographically, the HMI market can be divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America held over 30% market share in 2014. It is expected to continue holding prominent share in the forthcoming years due to early adoption of the technology. Growth in automation projects is projected to further drive the regional market. Europe is projected to showcase steady growth during the forecast period. Asia Pacific is anticipated to display strong growth due to rapid industrialization. Migration of manufacturing facilities to emerging countries due to easy availability of raw materials and low labor cost is expected to boost the regional expansion.

Some of the leading companies operating in the Human Machine Interface (HMI) market include Honeywell International Inc.; Eaton Corp.; Rockwell Automation Inc.; General Electric Co., and Emerson Electric Corp. Most companies are concentrating on technological advancements in displays and processors for developing efficient solutions. They are also adopting strategies such as mergers and acquisitions to sustain in the market.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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