Newark, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.07 billion in 2023 global human machine interface market will reach USD 10.64 billion in 2033. A Human-Machine Interface (HMI) is an electronic device component that enables users to interact seamlessly with machines or systems. HMIs are composed of various hardware and software components that convert human inputs into signals the machine can understand. These components may include motion sensors, speech-recognition interfaces, peripheral devices, and other data-exchange tools that utilize sound, heat, sight, and touch. HMIs enhance user efficiency, comfort, and enjoyment while minimizing errors. They also increase productivity by reducing physical and mental stress.
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HMIs are crucial in monitoring, diagnosing problems, and visualizing data across industries such as energy, manufacturing, food and beverage, power, recycling, oil and gas, transportation, and water and wastewater management. High-performance HMIs are increasingly being adopted to ensure quick and effective communication, focusing on the most critical signals to help users identify problems swiftly and make informed decisions. Additionally, HMIs can be customized to meet industry-specific requirements, further boosting efficiency and reducing errors.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 4.07 Billion |
| Market Size in 2033 | $ 10.64 Billion |
| CAGR | 10.1% |
| No. of Pages in Report | 131 |
| Segments Covered | Offering, Application, Regions |
| Drivers | Protocol Conversion |
| Opportunity | Increasing Deployment |
| Restraints | The danger of Cyber Attack |
Key Insight of the Global Human machine interface Market
Asia Pacific will dominate the market during the forecast period.
In 2023, the Asia Pacific region dominated the global HMI market, holding a 45% revenue share. This growth is driven by increasing disposable incomes, population growth, and the region's status as a production hub, particularly in China and Japan. India is also emerging as a manufacturing centre, supported by initiatives like "Make in India," which aims to position the country as a global manufacturing leader. For instance, in September 2021, the Indian government approved a Production Linked Incentive (PLI) scheme worth USD 3.53 billion for the automotive and drone industries to enhance India's manufacturing capabilities.
In 2023, the software segment dominated the market with the largest market share of 40% and revenue of 1.62 billion.
The offering segment is divided into software, hardware, and service. In 2023, the software segment dominated the market with the largest market share of 40% and revenue of 1.62 billion.
In 2023, the automotive segment dominated the market with the largest market share of 37% and revenue of 1.50 billion.
The application segment is divided into automotive, packaging, pharmaceutical, food and beverage, oil & gas, and metal & mining. In 2023, the automotive segment dominated the market with the largest market share of 37% and revenue of 1.50 billion.
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Advancement in market
Premio, a developer of industrial display technologies and rugged edge/embedded computing, has added two new industrial touchscreen computers to its lineup of industrial-grade touch panel displays. With Intel's 12th Generation Alder Lake-N processors, these new models—the AIO Series All-In-One Industrial Touchscreen Computer and the HIO Series Open Frame Industrial Touchscreen Computer—offer improved Human Machine Interface (HMI) solutions.
Market Dynamics
Driver: Protocol Conversion.
The growing trend of protocol conversion for data transmission among connected devices is expected to drive HMI market growth. Technological advancements, such as open platform architecture (OPA), simplify migration processes and are projected to increase HMI demand. Organizations are focusing on developing adaptive and efficient interfaces to create more profitable market opportunities.
Restraints: Cybersecurity Risks.
With the increasing connectivity of HMI systems to the internet, there is a significant risk of cyberattacks. Compromised HMIs could allow hackers to crash systems and steal critical and confidential data.
Opportunities: Industrial Automation.
The increasing deployment of industrial automation systems, particularly in manufacturing, is expected to drive market growth. Advances in technology, from simple LED indicators to fully functional, touchscreen, and graphic-oriented terminals, have enhanced device mobility through Bluetooth and Wi-Fi integration, further fuelling demand.
Challenges: Design Flaws.
Poorly designed HMIs can lead to operational errors, which may result in severe safety and performance issues. A well-designed HMI is crucial for ensuring safe and efficient interaction between the operator and the machine.
Some of the major players operating in the global human machine interface market are:
• ABB Ltd.
• Eaton Corp.
• Siemens AG
• General Electric Co.
• Emerson Electric Corp.
• Omron Corp.
• Honeywell International Inc.
• Rockwell Automation Inc.
Key Segments covered in the market:
By Offering
● Software
● Hardware
● Service
By Application
● Automotive
● Packaging
● Pharmaceutical
● Food and Beverage
● Oil & Gas
● Metal & Mining
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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