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“HMI market is expected to showcase significant growth from 2020 to 2025.”
The HMI market was valued at USD 4.3 billion in 2020 and is expected to reach USD 5.6 billion by 2025, at a CAGR of 5.2% from 2020 to 2025. Human machine interface (HMI), is an interface between a user and a machine, which helps operators and line supervisors to coordinate and control various manufacturing processes in plants. Some of the major factors driving the growth of the market include the surging adoption of industrial automation in the manufacturing sector, the evolution of industrial internet of things (IIoT), growing demand for smart automation solutions, and rising need for efficiency and monitoring in manufacturing plants.
“Configuration-wise, embedded HMI segment is anticipated to capture highest CAGR during forecast period.”
Embedded HMIs offer an integrated environment which is much simpler and user-friendly and helps in enhancing efficiency. Growing technological developments in manufacturing, increasing need for integrated systems, and ease in machine-to-machine communication are some of the prominent factors expected to encourage the adoption of embedded HMI solutions during the forecast period. Hence, the embedded HMI market is expected to witness significant growth throughout the forecast period.
“By offering, software segment is expected to register highest CAGR during forecast period.”
HMI software allows operators to interact, manage, and operate a system while also allowing the acquisition of data for processing. HMI software includes configuration software, data acquisition software, data analysis software, monitoring and controlling software, and programming software. The HMI software segment has been further divided into on-premise HMI solutions and cloud-based HMI solutions. Manufacturing companies are increasingly adopting advanced technologies, such as cloud-based solutions, to gain a competitive advantage by improving the efficiency of the manufacturing process, which is encouraging the adoption of more scalable and flexible HMI.
“APAC to continue to dominate global HMI market throughout forecast period.”
APAC is expected to continue to hold the largest share of the human machine interface market from 2020 to 2025. Factors such as increasing manufacturing activities, growing economic and infrastructural development, and rising FDIs in APAC are encouraging the adoption of HMI solutions in various industries in this region. With various industries shifting their manufacturing bases in APAC to capitalize on the availability of skilled and relatively cheap labor, APAC has transformed into a major manufacturing hub. The process and discrete manufacturing industries present in the region are progressively adopting automated technologies, which is one of the major factors driving the growth of the HMI market in APAC.
Breakdown of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 39%, Tier 2 = 41%, and Tier 3 = 20%
- By Designation: C-Level Executives = 42%, Directors = 36%, and Others = 22%
- By Region: North America = 34%, Europe= 24%, APAC = 22%, and RoW = 20%
The key players operating in the human machine interface market are ABB Ltd. (Europe), Rockwell Automation (US), and Siemens AG (Germany), Advantech Co, Ltd (Taiwan), Emerson Electric Co. (US), General Electric (US), Honeywell International, Inc (US), Mitsubishi Electric Corporation (Japan), Schneider (Europe), and Yokogawa (Japan).
The research report analyzes the human machine interface market based on end-user industry, offering, configuration, and geography. Based on offering, the market has been segmented into hardware and software. Based on configuration, the human machine interface market has been classified into embedded HMI and stand-alone HMI. Based on end-user industry, the market has been classified into process and discrete industries. The report studies the HMI market for 3 regions?Americas, EMEA, and APAC.
Reasons To Buy the Report:
The illustrative segmentation, analysis, and forecast of the market based on end-user industry, offerings, configuration, and geography have been conducted to give an overall view of the human machine interface market.
Major drivers, restraints, opportunities, and challenges pertaining to the human machine interface market have been detailed in this report.
The report includes a detailed overview of the competitive landscape, along with the profiles of key market players.