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.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/human-machine-interface-market
Europe human machine interface market share by product, 2012 - 2022 (USD Million)
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 All Reports of
this category @ 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
- Automotive
- Healthcare
- Food & Beverages
- Oil & Gas
- Packaging
- Aerospace & Defense
- 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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
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Grand
View Research, Inc.
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Email: sales@grandviewresearch.com
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