The Global Human Machine Interface Market was valued at USD 4.5 Bn in 2020 and is expected to reach USD 6.2 Bn by 2027, with a growing CAGR of 4.9% during the forecast period.
Human Machine Interface (HMI) is software that is used for the interface between the user and the machine or device that acts as an interface between the Programmable Logic Controller (PLC) and the operator. HMI is utilized in various industries such as pharmaceuticals, oil & gas, food & beverages and others to communicate between machinery and production plants. It provides a graph-based visualization of industrial control, monitoring system, and provides real-time data accumulations.
The increasing trend of digitalization, coupled with the emergence Industrial Internet of Things (IIOT) is one of the important factors that drive the growth of human machine interface industry during the forecast period. The Industrial Internet of Things (IIOT) enables industries to conveniently use new software programs and allow optimal monitoring of machinery and equipment. For instance, according to secondary sources, by 2025, more than 75Bn of Internet of Things (IoT) connected device in use. Also, companies are increasingly focusing on generating customizable and useful interfaces that provide lucrative opportunities for the growth of the market. Moreover, the significant use of HMI in the automotive industry propels the demand for the human machine interface market.
By Component
By Configuration Type
By End User
By Region
Human Machine Interface Market Key Players Company Profiles and Competitive Intelligence:
Based on the component, the software segment in the human machine interface market is growing at the highest CAGR during the forecast period owing to the ability of HMI software to offer flexibility and reliability
Based on the component, the human machine interface industry has been segmented into software and hardware. The software segment of the human machine interface market is growing at the highest CAGR during the forecast period. The growth in the segment is attributed to the ability of HMI software to offer flexibility and reliability. HMI software is utilized to perform numerous types of functions such as alarms, control functions, and printing management reports. The programming software used is called proprietary software, wherein the software is provided by the manufacturer for rapid developments.
Based on the end user, the pharmaceutical segment is anticipated to witness the highest growth during the forecast period owing to the pharmaceutical process are very complex which require proper monitoring to achieve operational efficiency
Based on the end user, the human machine interface industry is segmented into automotive, semiconductor, pharmaceutical, oil & gas, food & beverages, and aerospace & defense. The pharmaceutical segment of human machine interface market is anticipated to witness the highest growth during the forecast period owing the pharmaceutical process is very complex which require proper monitoring to achieve operational efficiency. Moreover, advancement in the pharmaceuticals sector, such as biopharmaceuticals, encourages drug manufacturers to adopt advanced monitoring and controlling solutions to ensure quality, safety, and regulatory compliance. Thus, drive the demand of human machine interface in the pharmaceuticals industry.
Based on region, the Asia Pacific is expected to grow at the highest CAGR during the forecast period
Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth in the region is attributed to the rise in disposable income and increase in the population. The countries like China and Japan in the region are considered to be the manufacturing hubs of the piece of the equipment required for the human machine interface. Moreover, India has emerged as the fastest-growing manufacturing sector. The various government initiatives in India such as “Make in India” offers exceptional recognition to the Indian economies. For instance, according to the report published by the Indian Brand Equity Foundation (IBEF) in 2021, India's manufacturing sector is expected to reach USD 1 trillion by 2025. Therefore, these facts support the growth of the human machine interface market during the forecast period.
The report also provides an in-depth analysis of human machine interfaces market dynamics such as drivers, restraints, opportunities, and challenges:
Drivers
Restraints
Opportunities
Challenges
COVID-19 Impact on the Human Machine Interface Market Analysis:
The outbreak of COVID-19 is anticipated to impact the global industrial spending significantly over the coming years, as the non-operational status of numerous industries deemed non-essential by governments across the globe is facing huge losses, which is anticipated to impact their tech spending till the end of 2021. The automotive industry, which was formerly facing a depression in sales during 2019, is anticipated to observe a continued drop in sales until the end of 2020. This is anticipated to significantly impact the product installations spending on technological upgrades involving HMI to enhance the production capacities.
*Note: A detailed analysis is specific to the human machine interface market will be provided in the report.
The report also provides an in-depth analysis of key trends in the human machine interface market:
The report also provides an in-depth analysis of recent news developments and investments:
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Market Introduction
Research Methodology
Executive Summary
Premium Insights
Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
Market Dynamics
COVID – 19 Opportunity Mapping
Regional Market Analysis
Company Profiles
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