Human Machine Interface Market Trends, Size, Strategy, Applications Analysis and Growth by Forecast to 2027
The global human machine interface market size will touch USD 7.24 billion at a 10.3% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Human machine interface, simply put, is a medium for information exchange between electromechanical systems and users.
Various factors are fuelling the global human machine interface (HMI) market share. As per the recent MRFR market estimates, such factors include the surging adoption of industrial automation in the manufacturing sector, growing need for smart automation solutions, the evolution of industrial internet of things, rising need for efficiency and monitoring in manufacturing plants, the rising trend of digitalization, introduction of HTML 5 and industrial internet of things, growing preference for multi-touch screens and gadgets for virtual reality and augmented reality, the ever-increasing need for enhanced efficiency, extensive rise in electronic, computer and mobile applications, and growth in IT and telecom sector.
On the contrary, lack of standardization, high installation cost associated with the security and safety concerns, lack of skilled professionals, lack of awareness, price fluctuations, disruption in supply, COVID-19 impact, and slowdown in the production may limit the global HMI market growth over the forecast period.
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The MRFR report throws light on an inclusive segmental analysis of the global human machine interface market industry based on technology, interface configuration, and end user.
By technology, the global human machine interface market is segmented into movement, material, bionic, acoustic, and optical. Of these, the material segment will lead the market over the forecast period at a 10% CAGR.
By interface, the global human machine interface market is segmented into programming and equipment. Of these, the equipment segment will dominate the market over the forecast period at a 9% CAGR.
By configuration, the human machine interface market is segmented into embedded and standalone. Of these, the embedded segment will spearhead the market over the forecast period.
By end user, the global human machine interface market is segmented into aerospace and defense, food and beverage, oil and gas, pharmaceutical, semiconductor, and automotive. Of these, the pharmaceutical segment will have the lions share in the market over the forecast period.
By region, the human machine interface market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will spearhead the market over the forecast period and at a high CAGR. Rapid technological advances in HMI solutions, extensive R&D activities by the regional industry participants, various industries shifting their manufacturing bases in the region to capitalize on the accessibility of skilled and cheap labor, the region being a major manufacturing hub, and the presence of discrete and process manufacturing industries that are progressively adopting automated technologies are adding to the global human machine interface market growth in the region. The additional factors adding market growth include swift technological advances in HMI solutions, expanded R&D activities by regional industry players, rapid industrialization, easy availability of raw materials, rising number of automated projects, and inexpensive labor force.
In North America, the global human machine interface market is predicted to have healthy growth over the forecast period. Increasing technological developments in Canada and the US, growing R&D activities in the HMI due to increasing approval of machine to machine communication and IoT in various industries, and rising adoption of HMI systems in the food processing sector are adding to the global human machine interface market growth in the region.
In Europe, the global human machine interface market is predicted to have admirable growth over the forecast period. Rising automation in food and beverage sector in the UK, and growing adoption of advanced technologies in automobile industry are adding to the global human machine interface market growth in the region.
Leading players profiled in the global human machine interface market report include Schneider Electric SE, Rockwell Automation Inc, ABB Ltd, Honeywell International Inc. and Siemens AG, among others.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
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