New York, United States, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Human Machine Interface Market Size is to Grow from USD 5.83 Billion in 2022 to USD 17.46 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 11.59% during the projected period.
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Human machine interfaces, or HMIs, are used as control panels for PLCs, RTUs, and, in some cases, IEDs. Human-machine interfaces replace normally operated switches, knobs, and other sorts of controls with graphical representations of the operation process and computational controllers to influence that process. The use of automation to boost operational efficiencies in various end-user industries such as food and beverage, packaging, and so on is a prominent trend driving the expansion of the human-machine interface market. The increased acceptance of automation technologies in the manufacturing sector, as well as a higher emphasis on real-time data analytics, are the primary trends driving the anticipated rise of the HMI market. In addition, the Internet of Things (IoT) is a major trend, with consumer and industrial products networked via the Internet. Furthermore, the growing prevalence of protocol switchover for data transmission among all linked devices is expected to fuel HMI market growth. The high implementation cost of a human machine interface system, on the other hand, is a substantial hindrance to market expansion.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Human Machine Interface Market Size, Share, and COVID-19 Impact Analysis, By Offering (Hardware, Software), By Configuration (Embedded HMI, Standalone HMI), By End-Users (Manufacturing, Automotive, Aerospace & Defense, Energy & Power, Oil & Gas, Packaging, Food & Beverages, Chemicals, Pharmaceuticals, Metal & Mining, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The hardware segment is dominating the market with the largest revenue share over the forecast period.
On the basis of offering, the global human machine interface market is segmented into the hardware and software. Among these, the hardware segment is dominating the market with the largest revenue share of 58.6% over the forecast period. This is mostly due to the hardware requirements of any HMI system - every system requires some form of hardware to allow communication between the user and the equipment being operated. The hardware segment of the global human machine interface (HMI) market includes the physical components that enable humans and machines to interact.
The embedded HMI segment is witnessing significant CAGR growth over the forecast period.
On the basis of configuration, the global human machine interface market is segmented into embedded HMI and standalone HMI. Among these, the embedded HMI segment is witnessing significant CAGR growth over the forecast period, owing to the widespread application of embedded HMIs in consumer and industrial electronics. Embedded Human Machine Interfaces (HMIs) are incorporated directly into the component or system they serve to command. These interfaces are commonly found in a wide range of equipment, from washing machines and ovens to industrial equipment and vehicle systems.
The manufacturing segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of end-users, the global human machine interface market is segmented into manufacturing, automotive, aerospace & defense, energy & power, oil & gas, packaging, food & beverages, chemicals, pharmaceuticals, metal & mining, and others. Among these, the manufacturing segment is dominating the market with the largest revenue share of 57.2% over the forecast period, due to the extensive use of HMIs in manufacturing operations across a wide range of industries. In the manufacturing sector, human-machine interfaces (HMIs) are widely utilized for managing, monitoring, and optimizing production activities. This includes both embedded and standalone HMI systems.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This is mostly due to the significant manufacturing markets in countries such as China, as well as the increasing deployment of automation technologies. Furthermore, with its thriving industrial sector and government initiatives fostering modernisation, India contributes to the region's market expansion. On the other hand, North America is predicted to expand the fastest during the forecast period. The region is characterised by a thriving industrial sector, extensive adoption of technological breakthroughs, and a plethora of important industry participants. The Europe market is predicted to develop at a significant CAGR during the forecast period, owing to a robust manufacturing sector and modern industrial infrastructure.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Human Machine Interface Market include Honeywell International Inc., Advantech Co., Ltd., Emerson Electric Co., General Electric Co., Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Rockwell Automation Inc., ABB, Siemens AG, Schneider Electric SE, Eaton Corp., and several others.
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Recent Developments
- On June 2023, Panthronics AG ("Panthronics"), a fabless semiconductor business specializing in high-performance wireless solutions, was acquired by Renesas Electronics Corporation. Renesas now has the in-house capabilities to capitalize on expanding market prospects for NFC. Renesas will be able to offer customers a compelling variety of connection solutions in growth areas like as fintech, IoT, and automotive, thanks to Panthronics' NFC experience and strong engineering personnel.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Human Machine Interface Market based on the below-mentioned segments:
Human Machine Interface Market, Offering Analysis
- Hardware
- Software
Human Machine Interface Market, Configuration Analysis
- Embedded HMI
- Standalone HMI
Human Machine Interface Market, End-Users Analysis
- Manufacturing
- Automotive
- Aerospace & Defense
- Energy & Power
- Oil & Gas
- Packaging
- Food & Beverages
- Chemicals
- Pharmaceuticals
- Metal & Mining
- Others
Human Machine Interface Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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