The global Humanâ€“Machine Interface market is anticipated to increase at a 8.12% CAGR to reach value USD 8.10 billion in 2029
The global human-machine interface market is witnessing thumping growth in recent years and is likely to surpass approximately USD 10.3 billion by 2028, at a CAGR of 8.6% over the prediction period, 2021-2028. The growing adoption of mechanical development tools in the manufacturing sector, the advancement of the industrial internet of things (IIoT), and the demand for smart industrial solutions are likely to bode well for market expansion.
Additionally, need for effective inspection practices in the manufacturing plants are also relevant influencers for robust growth in human-machine interface market as they underpin mainstream adoption of industrial automation tools in the manufacturing sector, backed by smart automation solution. Furthermore, the rising demand for logical software paired with scientific tools is projected to enhance quality and productivity, therefore boosting demand.
However, some prevalent drawbacks such as exorbitant pricing, lack of appropriate skills, and shallow awareness about automation tools could restrict growth. Conversely, continued reliance on IIoT solutions is anticipated to usher new growth opportunities in human-machine interface market as need for data exchange in multi-device environment solidifies.
Besides these, technical improvements in creative display panel advancements fuel the expansion of the human-machine interface. Lack of standardization, expensive prices, and installation-related safety and security issues are likely to dampen the growth of the human-machine interface market. Likewise, the industry's major participants may face difficulties due to a shortage of trained experts. Alarm alerts, safe messaging, and enhanced internal communications are intended to provide a facility an edge in terms of security, operations, and output. Newer HMI is intended to cut operating costs by replacing old push buttons, indicator lights, and selectors, reducing the need for extra display panels and connections and improving machine monitoring. The expansion of the oil and gas sectors, as well as the energy and power industries, will provide new growth possibilities for the market in the coming years.
Human–Machine Interface Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 10.3 billion|
|Growth Rate||CAGR of 8.6% during 2021-2028|
|Segment Covered||Offering, Configuration, End-User Industry, Technology Type, Sales Channel, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Rockwell Automation, GE, Eaton, Siemens, Omron, ABB, Honeywell, Emerson Electric, etc.|
Key Segments of the Global Human-Machine Interface Market
Offering Overview, 2018-2028 (USD Billion)
Configuration Overview, 2018-2028 (USD Billion)
- Embedded HMI
- Stand-Alone HMI
End-User Industry Overview, 2018-2028 (USD Billion)
- Process Industry
- Oil & Gas
- Food & Beverages
- Energy & Power
- Metals & Mining
- Discrete Industry
- Aerospace & Defense
- Semiconductor & electronics
- Medical Devices
Technology Type Overview, 2018-2028 (USD Billion)
- Tactile HMI
- Bionic HMI
- Motion HMI
- Acoustic HMI
Sales Channel Overview, 2018-2028 (USD Billion)
- Direct Sales Channel
- Indirect Sales Channel
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa
Reasons for the study
• To learn about the existing and future state of the human-machine interface in both developed and emerging regions.
• By emphasizing the global human-machine interface goals, the study aids in realigning company strategy.
What does the report include?
• To showcase the leading human-machine interface companies, their company profiles, product portfolios, market share, and revenue analysis.
• Entire planning and action play based on prominent segmentation in human-machine interface market.
• The market's top regions, SWOT analysis, opportunities, and risks to the market development are all addressed.
• To investigate the market value, various applications, product kinds, and manufacturing capacity.
• Highlight the company potential, import-export status, production, and cost analysis.
Who should buy this report?
• This research is useful for industry players and stakeholders in the global human-machine interface market. Every stakeholder in the human-machine interaction business will profit from this study.
• Government organizations, regulatory authorities, policymakers, and businesses interested in investing in global human-machine interface market.
• Managers in the human-machine interface market who wish to disclose current and expected worldwide market information.
• Analysts, researchers, strategy managers, and government organizations looking for market data to help guide future efforts.
Frequently Asked Questions (FAQ) :
The market would experience robust expansion due to the increasing usage of HMI technology in regular industrial activities in the coming years. In an equipped industrial setup, the technology enables the visual presentation of data, the tracking of production, the monitoring of machine inputs and outputs, and remote operation, among other tasks. Furthermore, HMI (human-machine interface) visual panels enable the presentation of real-time graphic information using sophisticated software, which aids in improved analyses and decision making.
HMI (human-machine interface) applications in the pharmaceutical, manufacturing, oil and gas, energy and power, and food and beverage sectors have resulted in increased output, reduced accidents and risks, aided in cost reduction, and reaped the advantages of economies of scale. Positive growth in these industries contributes to the market prospects of HMI (human-machine interface) technology. Similarly, the rise of the oil and gas, power, and energy industries will create new chances for growth. The discovery of new oil reserves in the Middle East and Africa, as well as the growth of renewable energy and power projects, will pave the way for new opportunities in foreseeable times.
The software segment will have the greatest CAGR in the coming future. HMI (human-machine interface) software is utilized for monitoring functions like alarms, control functions, and management report printing. During the forecast period, demand for HMI software is projected to be driven by its ability to provide flexibility and dependability while also improving the efficiency of manufacturing operations.
The embedded HMI human-machine interface solutions segment is anticipated to dominate the revenue generation cycles owing to its multi-dimensional functionalities in terms of configuration during the forecast period. To optimize device capabilities, embedded HMIs are utilized in combination with robust software and hardware platforms. Further, connected embedded platform is yet another facet of device connectivity spectrum and it is directly intertwined to a network that enables simplistic communication delivery between multiple machines besides offering prompt operator access in human-machine interface market.
End-User Industry segment
The pharmaceuticals sector is anticipated to develop at the fastest CAGR among process industries in the near future. Due to the complexity of pharmaceutical production processes, effective monitoring of all operations in a manufacturing facility is required to ensure operational efficiency. Manufacturing assets must be continually monitored, which may be accomplished efficiently using HMI systems. Furthermore, advancements in the pharmaceutical sector, such as biopharmaceuticals, motivate medication makers to implement advanced monitoring and control systems to assure quality, safety, and regulatory compliance. It could also be expected that in the coming years, oil and gas industry could also emerge as a significant contributor to revenue acceleration.
Based on technology type, motion human-machine interface technology is poised to incur maximum revenues backed by massive end-use adoption amidst advanced-motion sensing technology for superlative outcome. Features such as infrared sensor detection is furthering technological excellence in motion detection.
In-direct sales channel is gaining substantial momentum as human-machine interface market participants are drawing attention towards core business development while outsourcing sales to third party experts. The segment is therefore likely to secure considerable revenue edge in the projected timeline.
The Asia Pacific human-machine interface industry is expected to grow at a significant pace. Rapid technical advances in HMI solutions, as well as strong R&D efforts by regional industry participants, are projected to open doors for the Asia Pacific HMI market. APAC has turned into a significant manufacturing center, with numerous companies relocating their manufacturing operations there to benefit from the availability of trained and relatively inexpensive labor. The Asia Pacific region’s dominance in the revenue cycles of human-machine interface space is clearly due to integration of automation solutions.
The competition in this industry is intense due to large-scale companies such as Siemens AG, ABB Ltd, Honeywell International Inc., Rockwell Automation Inc., and Schneider Electric SE. Changing operational and business requirements have fueled breakthroughs in HMI innovation. High-performance HMIs, touch displays, and mobile devices, as well as more classic versions, are hugely available on the market. This industry's participants are always building a new product range in order to obtain a competitive edge through collaborations, mergers and acquisitions, and constant innovation.