Human Machine Interface (HMI) Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Hardware, Software), By Configuration Type (Standalone, Embedded), By End-User Industry (Manufacturing, Water And Wastewater, Energy And Power, Automotive, Oil And Gas, Healthcare, Consumer Electronics, Others), And By Geography - Forecasts From 2022 To 2027
- Published : May 2023
- Report Code : KSI061611585
- Pages : 120
The human-machine interface (HMI) market is projected to grow at a CAGR of 6.27% over the forecast period, increasing from US$4.539 billion in 2021 to reach a total market size of US$6.947 billion by 2028.
Human-machine interface displays are devices that are used across various industry verticals for providing a visual representation of a control system while offering real-time data acquisition. The major factor driving the demand for HMI solutions is the trend toward industrial automation and its long-run cost-effectiveness as compared to conventional operating solutions. Automation of complex legacy systems poses a major market opportunity as various organizations are opting for a more digitalized framework for effective monitoring and control of their equipment. However, the security concerns regarding the unauthorized access of HMIs by a third party will restrict the demand for these displays.
The major factor driving the demand for HMI systems is the increasing investments in factory automation.
Industry 4.0 is the fourth industrial revolution that aims at automating manufacturing activities and improving the data acquisition capabilities of an enterprise. Automation and data acquisition is done by integrating various technologies in the manufacturing process including implementing industrial IoT solutions, additive manufacturing, autonomous robots, system integration, big data, and analytics among many others. HMI display enables the setup of a centralized control center and ease in management of the machinery, which results in improvement of productivity. In addition, technological advancements facilitate flexibility by offering the end user the capability of customizable visualization of the state of the system, further boosting the demand for these devices. Increasing investments in factory automation by big organizations to reduce inefficiencies and unplanned downtime is propelling the demand for these devices. Favorable government policies are promoting the set-up of SMEs worldwide. Increasing adoption of HMI display coupled with the trend towards factory automation among SMEs will boost the demand for these devices over the forecast period.
The surge in demand for fuel-efficient vehicles with well-equipped safety features has positively impacted global automotive production and sales.
Upgrades have become an inescapable feature of the auto business as manufacturing technology evolves at a rapid pace. For instance, the advent of intelligent cars is leading to the development and incorporation of advanced technologies such as adaptive cruise control (ACC) and lane departure warning system (LDW) in vehicles. As a result, the number of vehicles with adaptive cruise control systems has been witnessing good growth globally and is expected to contribute considerably to the growth of the HMI market. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2022, global production stood at 85.02 million units which represented a 10% increase over 2020’s production volume. Moreover, the same source stated that in 2022 global automotive sales reached 81.62 million units which signified a 3.6% increase over 2020’s sales volume
By geography, North America and Europe held a significant market share owing to the early adoption of technology and rising demand for better in-vehicle infotainment. In addition, rising investments in renewable power projects to achieve their sustainable development goals and reduce carbon emissions will boost the demand for these solutions. The Asia Pacific region will grow at a significant rate throughout the forecast period on account of the rising number of SMEs and increasing expenditure on factory automation across industry verticals. Various companies in the APAC region are developing smart AI-integrated systems in the market. For instance, In August 2022 - ABB India announced that the company has developed and elevated its smart power factory in Nelamangala, Bengaluru, to fulfill the substantial demand for the solutions and energy management technologies offered by the company. Moreover, the company also said that the smart facility harnesses advanced collaborative robotics technology for better human-machine interface (HMI), artificial intelligence (AI), and advanced digitalization technologies to construct a sophisticated, automated, and flexible future-ready factory.
- Ford unveiled the ultra-high specification Ranger Platinum pickup in November 2022. The Ranger Platinum features a sleek and modern leather-trimmed interior and special exterior detailing and finishes that enhance the Ranger's already characterful look. In addition, Ford's 3.0 liter V6 turbodiesel engine powers the Ranger Platinum, which is only offered in five-seat, double cab configuration.
- In June 2021, Red Lions Controls launched its new secure Remote Access Platform, in partnership with MB connect line GmbH. Similarly, in November 2021, Rockwell Automation, Inc. announced the launch of its HMI software for remote access solutions. This aids the original equipment manufacturers by accessing the industrial equipment remotely with the help of cloud-based software and a remote access router.
Human Machine Interface (HMI) Market Scope:
|Market size value in 2020||US$3.952 billion|
|Market size value in 2027||US$6.044 billion|
|Growth Rate||CAGR of 6.26% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Component, Configuration Type, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation, Schneider Electric, ABB, Siemens, Honeywell International Inc., General Electric, Yokogawa India Ltd., Kontron S&T Group|
|Customization scope||Free report customization with purchase|
- By Product
- By Frequency
- Low Frequency
- High Frequency
- Ultrahigh Frequency
- By End-User Industry
- Aerospace and Defense
- Travel and Transport/Logistics
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the human-machine interface market?
A1. The global human machine interface market is expected to grow at a CAGR of 6.26% over the forecast period.
Q2. What is the size of the global human-machine interface market?
A2. Human Machine Interface (HMI) Market was valued at US$3.952 billion in 2020.
Q3. Which region holds the largest market share in the human-machine interface market?
A3. North America is expected to have the largest share of the HMI market due to the region's superior infrastructure and increasing adoption of modern technology.
Q4. What will be the human-machine interface market size by 2027?
A4. The human-machine interface market is expected to reach a total market size of US$6.044 billion by 2027.
Q5. What factors are anticipated to drive the human-machine interface market growth?
A5. A prominent trend driving the rise of the human-machine interface market is the adoption of automation in various end-user sectors, such as food and beverage, packaging, and so on, to boost operational efficiencies.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Data
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. HUMAN-MACHINE INTERFACE MARKET, BY COMPONENT
6. HUMAN-MACHINE INTERFACE MARKET, BY SCREEN SIZE
6.2. Between 1” and 5”
6.3. Between 5” and 9”
6.4. Between 9.1” and 13”
6.5. Between 13.1” and 17”
6.6. More than 17”
7. HUMAN-MACHINE INTERFACE MARKET, BY END-USER INDUSTRY
7.3. Energy and Power
7.5. Water and Wastewater
7.7. Oil and Gas
7.10. Consumer Electronics
8. HUMAN-MACHINE INTERFACE MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. By Component
8.2.2. By Screen Size
8.2.3. By End-User Industry
8.2.4. By Country
184.108.40.206. United States
8.3. South America
8.3.1. By Component
8.3.2. By Screen Size
8.3.3. By End-User Industry
8.3.4. By Country
8.4.1. By Component
8.4.2. By Screen Size
8.4.3. By End-User Industry
8.4.4. By Country
220.127.116.11. United Kingdom
8.5. The Middle East and Africa
8.5.1. By Component
8.5.2. By Screen Size
8.5.3. By End-User Industry
8.5.4. By Country
18.104.22.168. Saudi Arabia
8.6. Asia Pacific
8.6.1. By Component
8.6.2. By Screen Size
8.6.3. By End-User Industry
8.6.4. By Country
22.214.171.124. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Mitsubishi Electric Corporation
10.2. Omron Corporation
10.3. Rockwell Automation
10.4. Schneider Electric
10.7. Honeywell International Inc.
10.8. General Electric
10.9. Yokogawa India Ltd.
10.10. Kontron S&T Group
Mitsubishi Electric Corporation
Honeywell International Inc.
Yokogawa India Ltd.
Kontron S&T Group
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