Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global human-machine interface market likely to grow due to the increasing adoption of industrial automation in manufacturing processes and the surge in demand for smart automation solutions
The global human machine interface market size was valued at USD 4.32 billion in 2019 and projected to reach USD 6.34 Billion by 2027, registering a CAGR of 4.68% during the forecast period, 2020-2027. The primary factors are the growing adoption of industrial automation equipment in the production sector and the increasing demand for a smart technological solution. Additionally, the upsurge in HMI's adoption for remote operations and various HMI applications in water treatment units and oil and gas for operating in harsh climates are booming the robust growth of the market. Also, the rising demand for mobility and effectiveness, and the increasing investment by several manufacturing industries in automation will augment the global human machine interface market share in the future periods. Further, the upsurge in the applications for HMI to reduce the operation costs by substituting various pushbuttons, indicator lights, selectors along with lowering the requirement of additional display panels and cables are propelling the growth of the market.
Human-machine software has gained widespread acceptance in the industry and will continue to develop as a trend towards real-time factory intelligence. Moreover, the ensuing benefits, such as reduced plant operating costs, higher processing efficiency, and higher energy efficiency, will accelerate the adoption of human-machine solutions. Also, the increasing adoption of automation in various end-user industries, such as food and beverages, packaging, etc. to increase operational efficiencies will trigger the growth of the global human-machine interface industry. Technological advancements such as open platform architecture or OPA, resulting in improvement of the migration process, are fuelling the expansion of the market in the analysis period. Real-time intelligence and big data analysis are expected to bring revolutionary changes to the future of human-machine interfaces.
Offering Overview in the Global Human machine interface Market
Based on offering, the global human machine interface market classified into hardware (basic HMI, advanced PC-based HMI, advanced panel-based HMI) and software (on-premise HMI and cloud-based HMI. The software segment likely to lead the market by 2027. It is owing to software HMI allows to interact, manage, and operate a system while also allowing the acquisition of data for processing and used in exchanging information across different components of a computer system. HMI Software includes on-premise HMI and cloud-based HMI.
Configuration Overview in the Global Human machine interface market
Based on the configuration, the global human-machine interface market bifurcates into Stand-Alone HMI and Embedded HMI. The embedded HMI segment witnessed the largest market share in 2019 and will dominate by 2027. It is due to embedded HMI combined with powerful hardware and software platforms to use device capabilities to their fullest extent, secure communication between two machines, and provide easy access to the operator.
End-User Industry Overview in the Global Human Machine Interface Market
Based on the end-user industry, the global human-machine interface markets segmented into manufacturing, automotive, healthcare, food & beverages, oil & gas, packaging, aerospace & defense, and others. The automotive segment projected to lead the market by 2027. It is due to the HMI used in manufacturing units for almost all machines and other supporting functions and lower driver distraction while commanding vehicles.
Regional Overview in the Global Human Machine Interface Market
By geography, the global human machine interface market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to growing industrialization, raw materials availability, and low-cost labor, along with shifting manufacturing processes towards automation.
Global Human machine interface Market: Competitive Landscape
Companies such as Rockwell Automation, Inc., Schneider Electric SE, ABB Ltd., Siemens AG, Mitsubishi Electric Corporation, Advantech Co, Ltd, Emerson Electric Co, General Electric, Honeywell International, Inc., Yokogawa, Beckhoff Automation, Beijer Electronics Group. Eaton, Exor International, Kontron AG, and Omron Corporation are the key players in the global human machine interface market.