Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Human Machine Interface Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
Global Market Analysis Reveals Significant Growth Across Hardware, Software and Service Sectors, with Asia-Pacific and South America Pegged for Accelerated Expansion.
The comprehensive analysis within this industry-leading report provides in-depth insight into the human machine interface (HMI) market from 2017 to 2032. The study details the significant growth of the market, notably a steep compound annual growth rate (CAGR) of 8.88% from 2017 to 2022. The meticulous research anticipates continuous growth, projecting an escalation from $4.81 billion in 2022 to $11.33 billion by the close of 2032.
Reflecting upon the market segmentation, the report highlights that the hardware sector is leading the charge and is anticipated to grow substantially, while the software segment is positioned to charge ahead with the fastest growth rate. Embedded HMI emerges as the dominator in configuration categories, amid strong performance, it remains the largest market segment.
Segmentation by end-user industry showcases the automotive industry as a critical driver of HMI market growth, and it is expected to continue its rapid expansion through 2027. Geographical analysis indicates that North America currently leads regional markets; however, Asia-Pacific and South America are predicted to outpace other regions with the highest CAGR during the forecast period.
Despite the robust growth of the HMI market, the report recognizes challenges such as skilled labor shortages that may potential hinder future expansion. Nevertheless, key opportunities in hardware and embedded HMI segments, along with the automotive end-user segment, signal profitable avenues for interested stakeholders.
The analysis identifies the increased demand in connected and autonomous vehicle production, along with industrial automation enhancements, as major contributing factors to the market's expansion. Furthermore, current market trends reflect a focus on humanized design and the incorporation of HMI with energy management systems, emphasizing the innovation within the sector.
Armed with this research, companies within the HMI sector are advised to prioritize advanced technology integration, pivot towards emerging markets, leverage mergers and acquisitions, and target fast-growing end-users to seize the opportunities illuminated by this analysis.
The findings within this report provide a clear view of the market's trajectory, offering strategic insights to stakeholders looking to navigate the evolving landscape of the human machine interface market.
- Advancements in HMI products with speech recognition technology are suggested to maintain a competitive edge.
- Expansion into emerging economies is encouraged to tap into new market potentials.
- Companies should pursue robust partnerships and mergers to broaden their market reach and technological capabilities.
Through rigorous research, this report serves as a roadmap to guide industry leaders towards sustained growth and continued innovation within the human machine interface market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 293 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $4.8 Billion |
| Forecasted Market Value (USD) by 2031 | $11.3 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Siemens AG
- Emerson Electric Co
- Mitsubishi Electric Corporation
- Yokogawa Electric Corporation
- Schneider Electric SE
- Rockwell Automation, Inc
- General Electric Company
- Honeywell International Inc
- ABB Ltd
- Advantech Co Ltd
- KWOCO Automation Co., ltd
- Yueqing Yumo Electric Co., Ltd
- DigiBeings
- Aikon Labs Pvt Ltd
- Stretto Automation Private Ltd.
- Denso Korea Corporation
- Epson Korea Co. Ltd
- GlobalSpec
- Automated Solutions Australia
- Neuromatters
- Human loop
- Trulience
- TT Electronics
- Angelexo
- Saralon GmbH
- Mentessa
- Faba Network GmbH
- Golden
- Tracxn
- Livewire
- Omron
- Maple Systems
- Texas Instruments Incorporated
- WEG SA
- Proface Brazil
- Altus Sistemas
- Novus Automation
- W E B S ELECTRONICS REPAIRING
- MPTA education
- Staco Systems
For more information about this report visit https://www.researchandmarkets.com/r/ug3xup
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