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Human Machine Interface (HMI) Market will Procure $5.70 billion by 2022

Press Release   •   Jan 18, 2018 05:05 EST

Zion Market Research has published a new report titled “Human Machine Interface Market by Component (Hardware and Software) for Energy and Power, Oil and Gas, Healthcare, Automobiles, Aerospace and Defense and Other Application: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”. According to the report, global human machine interface market was valued at around USD 3.43 billion in 2016 and is expected to reach approximately USD 5.70 billion by 2022, growing at a CAGR of slightly above 8.80% between 2017 and 2022.

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Human-machine interface (HMI) is software for information exchange between users and electromechanical systems. Some of the examples of HMI are rubber keypad, touch screen, membrane switches, interface software, etc. Due to growth in factory automation, technological needs, Smartphone, tablets and computer users, the demand for human-machine interface is increasing. The major factors are driving the growth of HMI market is growing automation in manufacturing industries. Integration of analytics software with products will be expected to improve productivity and quality thereby spurring demand. However, high cost associated with installation is anticipated to pose the demand of HMI market. Nonetheless, continuous updating and upgrade of computer processors are also estimated to substitute traditional systems which will increase product demand. Advancement in broadband access technology is also expected to offer significant growth in coming years.

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Human interface market is segmented by component, configuration type, application, and region. On the basis of the component, the market is segmented into hardware and software. By configuration type, the market is divided into stand-alone HMI and embedded HMI. Due to increasing adoption of the embedded HMI solutions in process industry such as in chemical and pharmaceuticals industries is impelling the growth of hardware segment. Embedded platforms enable easy communication between two machines and provide easy access to operators, and thus help operators in process industries to gain more process visibility. Increasing demand of mobile HMI is driving the growth of the advanced panel-based human machine interface market. In addition, the advanced panel-based HMIs have high demand in industries such as oil and gas, chemical, and energy and power, where critical operations are involved. Application segment is further divided into energy & power, oil & gas, healthcare, automobiles, aerospace defense and others. Increasing shale oil extraction significantly in North America will be expected to increase the need for industrial automation. Increasing usage of advanced technology in automobile sector has transformed the car dashboard layout to more flexible, dynamic and adaptable design is driving the growth of HMI market.

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North America human machine interface market is estimated to emerge as a dominant segment due to increase in a number of automation projects over the forecast period. Europe is projected to exhibit steady growth for HMI market over the forecast period. Due to rapid industrialization in developing countries such as China, Japan, India is expected to give momentum to this market in Asia Pacific region. Latin America and Middle East & Africa are expected considerable growth in coming years for HMI market.

Emerson Electric Corp., Honeywell International Inc., Rockwell Automation Inc., ABB Ltd., General Electric Co., Rittal GmbH & Co, WECON Technology Co. Ltd, Interlink Electronics, Inc., Panasonic Corp., EAO AG, Omron Corp., Siemens AG, and Eaton Corp. are the major human machine interface suppliers. 

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