The
global Human Machine Interface
(HMI) market is expected to reach USD 6.31 billion by 2022, according
to a new report by Grand View Research, Inc. Advancement in HMI programming
software in order to incorporate ability for managing multi-vendor environment
is anticipated to escalate industry growth over the next few years. Benefits
offered such as remote operation coupled with the widespread usage of HMIs
across oil & gas and water treatment plant for operating in harsh
conditions may also elevate product demand significantly. This has also
instigated vendors to manufacture devices with better wear and tear property.
Growing
trend towards protocol conversion to exchange data between all connected
devices is estimated to further catalyze human machine interface industry
growth. Technological development such as open platform architecture resulting
in improvement of the migration process is also anticipated to fuel demand
considerably over the forecast period.
High
upfront capital and need for change in business process to integrate HMIs are
key challenges anticipated to impact the industry. In addition, lack of skilled
professionals and awareness on HMIs among management and lower level executives
may also pose a challenge to market growth over the coming years.
Browse full research report on Global Human Machine Interface Market: http://www.grandviewresearch.com/industry-analysis/human-machine-interface-market
Further key findings
from the report suggest:
- Interface
software market accounted for substantial revenue share in 2014. The
segment is also anticipated to exhibit high growth with an estimated CAGR
exceeding 10% over the next few years. This may be attributed to the
increasing adoption of PC- based open source monitoring and controlling
system worldwide.
- Development
of new and innovative displays along with emergence of industrial internet
of things may contribute towards further growth in the display terminal
segment.
- Oil &
gas emerged as the dominant application and accounted for over 20% of the
overall revenue in 2014. This may be attributed to increasing demand from
the oil & gas sector owing to the benefits offered by HMI regarding
the flow of information inside a pipeline without updated monitoring
capabilities for overcoming a particular problem.
- HMI offers
several benefits regarding driver safety and security by integrating
solutions such as ADAS, ACC and LDW, which are expected to drive demand in
the automotive industry.
- North
America HMI market is estimated to hold majority share and accounted for
more than 30% of the consumption in 2014. Additionally, Asia Pacific is
anticipated to exhibit high growth over the next few years. This may be
attributed to the migration of manufacturing processes to developing
regions in order to capitalize on labor cost and high availability of raw
materials in this region.
- Companies
operating in the industry include GE, Eaton, ABB, Honeywell, Siemens,
Omron, Rockwell Automation, Emerson Electric, etc.
Browse more reports of this category by
Grand View Research: http://www.grandviewresearch.com/industry/electronic-devices
Grand
View Research has segmented the global Human Machine Interface (HMI) market on
the basis of product, application and region:
HMI Product Outlook
(Revenue, USD Million, 2012 - 2022)
- Display Terminals
- Interface Software
- Industrial PCs
HMI Application Outlook
(Revenue, USD Million, 2012 - 2022)
- Automotive
- Healthcare
- Food & Beverages
- Oil & Gas
- Packaging
- Aerospace & Defense
HMI Regional Outlook
(Revenue, USD Million, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- RoW
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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