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Human Machine Interface (HMI) Market to Reach $5.0 billion with 10.94% CAGR Forecast to 2021

market is estimated to cross USD 5.0 billion by the end of 2021 from the current value of USD 2.98 billion, thereby growing at a CAGR of 10.94%.

PUNE, MAHARASHTRA, INDIA, November 22, 2016 /EINPresswire.com/ -- Human Machine Interface Industry

Description

The second phase of the industrial revolution in the early 1900s was characterized by assembly lines, standardized and specialized machines (introduction to automation). Today, industries are moving to the fourth phase called as ‘Industry 4.0’, characterized by the use of Internet-of-Things (IOT) to connect physical objects to the virtual world. While we enter the new phase, automation designers have already realized the importance of human skill sets such as supervision, detection of abnormalities, maintenance and process optimization. Hence, they have incorporated a high-level of collaboration with the machine automation and human operator using HMI, so as to remove the ability of Artificial Intelligence (AI) to take decisions on the operator’s behalf.

Global Human Machine Interface (HMI) market is estimated to cross USD 5.0 billion by the end of 2021 from the current value of USD 2.98 billion, thereby growing at a CAGR of 10.94%. The growth in the market is fuelling investments from vendors across the value chain into this technology.

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HMI is a graphical software application that provides operational process information to the operator or the user enabling interaction between humans and machines, for machines to receive and execute the operator’s control instructions. HMI increases the efficiency of the user and secures the data. Though, initial high costs associated with deploying such products act as a challenge to its growth, HMIs are not limited to the manufacturing enterprises. They are being increasingly used by various enterprises operating in industry verticals like energy, healthcare and defense.

HMI solutions have evolved a lot over the years and continue to take inspiration from the consumer products. Features such as recognition of hand gestures, 3D-style graphics, icon-based navigations, etc. are being incorporated to create user-friendly and intuitive user interfaces.

This report provides a comprehensive analysis of global human machine interface market for the period 2016 to 2021 covering various aspects of the industry, technologies and regional trends contributing towards the growth of this market. Some of the major vendors mentioned in the report are Honeywell, Rockwell Automation, Schneider Electric, Bosch, Mitsubishi, General Electric and others.

DRIVERS

Increasing usage in industrial automation
Most enterprises are now moving towards mobility
Benefits of efficiency and data security

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RESTRAINTS

Initial costs are high

SPECIALITIES OF THIS REPORT

The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade.
The report will be an ideal source material for industry consultants, manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
The report contains a wide range of information about the leading market players and the major strategies adopted by them.

WHAT THE REPORT OFFERS

Market definition along with identification of key drivers and restraints for the market.
Market analysis with region-specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the industry on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

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