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Surging adoption of industrial automation in manufacturing process is a key factor driving human machine interface market revenue growth

VANCOUVER, BC, CANADA, January 16, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the global Human Machine Interface (HMI) market size reached USD 4.60 billion in 2021 and is projected to grow at a revenue CAGR of 8.1% over the forecast period. One of the main factors propelling market revenue growth is the growing acceptance of the Internet of Things (IoT) and cloud computing in industrial settings.

Another factor boosting market revenue growth is the growing use of connected mobile phones for communication and navigation in automobiles. In order to provide seamless human interaction with automated systems in automobiles, navigation, entertainment, and infotainment systems require HMI systems integrated with hardware and software, which is driving increasing demand for HMI. Additionally, advancements in SCADA (Supervisory Control And Data Acquisition) and corporate resource management systems, as well as alerting, receiving, and transmitting information systems, are fueling market revenue development.

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However, expensive installation and maintenance costs are anticipated to impede market expansion. The high installation cost of the HMI system is a result of several phases, including acquisition, consulting, running costs, and implementation, which also raises the cost of the installation firm. As a result of the development of smart manufacturing, industrial robots and intelligent field devices are utilised as two examples of sophisticated industrial automation systems. The need for increasingly sophisticated HMIs that integrate the most recent functional technologies, such as gesture recognition, voice recognition, and multi-touch screen, to interface with this type of equipment further drives up the cost of the system.

Global Human Machine Interface Market Report – Table of Contents:

Chapter 1 includes the global Human Machine Interface market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.

Chapter 2 broadly categorizes the Human Machine Interface market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.

Chapter 3 elaborates on the competitive outlook of the Human Machine Interface market, focusing on the major manufacturers and vendor landscape.

Chapter 4 exhaustively studies the key manufacturers of the Human Machine Interface industry, along with their anticipated sales and revenue shares.

Chapters 5 includes market segmentation based on product type, application range, and market players.

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Human Machine Interface market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report are:

Rockwell Automation, Inc., ABB, Siemens, Honeywell International Inc., Advantech Co., Ltd., Emerson Electric Co., General Electric, Mitsubishi Electric Corporation, Yokogawa India Ltd., and Schneider Electric.

Some Key Highlights From the Report

The software segment accounted for largest revenue share in 2021. Any workplace that employs machinery, industrial equipment, intricate procedures, or robotic technology, that requires human operator control or supervision, utilize HMI software. HMI software provides multiple benefits, such as ease-of-use, increased productivity and efficiency, improved employee safety, increased reliability, and cost reduction, which is expected to drive revenue growth of this segment. One of the big concerns for managers or owners of any industrial site is machine dependability. HMI software serves as supervisory software, increasing machine reliability by enabling real-time access for monitoring data gathered by internal sensors and cameras.

The embedded HMI segment accounted for largest revenue share in 2021. Embedded systems work with bigger machinery and gadgets to do particular tasks. In addition, advanced embedded Human-Machine Interface (HMI) systems are responsible for delivering responsive and elegant user experiences across a wide range of industries. An embedded operating system and embedded software are frequently used in industrial systems to carry out certain monitoring and control tasks and there are many different embedded systems for sensors and control mechanisms in contemporary medical equipment, which is driving revenue growth of this segment.

The automotive segment accounted for largest revenue share in 2021. Through in-car touch displays and buttons, push rotary controls, swipe and gesture features, and even speech recognition technologies, automotive HMIs enable drivers and passengers to interact with their cars. These technologies make driving safer and distraction-free while also significantly improving in-car user experience, which is driving revenue growth of this segment.

Emergen Research has segmented the global HMI market based on product, configuration, industry type, and region:

Product Outlook (Revenue, USD Billion; 2019–2030)

Hardware

Software

Services

Configuration Outlook (Revenue, USD Billion; 2019–2030)

Embedded HMI

Standalone HMI

Industry Type Outlook (Revenue, USD Billion; 2019–2030)

Chemical & Petrochemical

Paper & Pulp

Water & Waste Water Treatment

Energy & Utilities

Oil & Gas

Healthcare

Food & Beverages

Automotive

Others

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Regional Bifurcation of the Human Machine Interface Market Includes:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Benefits For Stakeholders:

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A detailed analysis of the factors that drive and restrict the growth of the minimally invasive surgical systems market is provided.

Extensive analysis of key segments demonstrates the types of energy devices, access equipment, and visualization & documentation systems used in minimally invasive surgeries.

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