San Francisco, 20 December 2018: The Report Human Machine Interface (HMI) Market Analysis By Product (Display Terminals,
Interface Software, Industrial PC), By Application (Automotive, Healthcare,
Food & Beverages, Oil & Gas, Packaging, Aerospace & Defense) And
Segment Forecasts To 2022
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 2025. 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.
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.
Access Research Report of Human Machine Interface
Market@ www.grandviewresearch.com/industry-analysis/human-machine-interface-market
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.
Access
Press Release of Human Machine Interface
Market@ www.grandviewresearch.com/press-release/global-human-machine-interface-market
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.
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