Human Machine Interface (HMI) Market Segmentation by Type (Hardware, Software, and Services); Application (Display Terminals, Industrial PCs, and Interface Software); and by End-Users (Automotive, Healthcare, Food Industry, Oil & Gas, Metal & Mining, and Others)-Global Demand Analysis & Opportunity Outlook 2031
9 Mar 2022
ICT & Telecom
Impact Analysis on the Growth of Market
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Global Human Machine Interface (HMI) Market Highlights Over 2022 - 2031
The global human machine interface (HMI) market garnered an approximate revenue of USD 5 billion in the year 2021 by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. The growth of the market can primarily be attributed to the adoption of industrial automation in the manufacturing sector, and the evolution of industrial internet of things (IIoT). As sourced from IFR, 3 million industrial robots are estimated to be operational across the globe. Moreover, in 2021, the robot installations were estimated to grow by 13% to 435000 units.
HMI is a user interface that connects a person to a machine, system, or device. It is also known as computer-human interface, or man-machine interface (MMI). It is used in manufacturing plants, food industry, pharmaceuticals, and many other industries Simple screen displays installed on factory equipment, laptops, mobile devices, and tablets are few products that come under human machine interface. Moreover, high level of functionality in the interface along with smooth touch screens and superior quality of displays are some of the beneficial properties of HMI which are expected to boost the market growth in upcoming years.
The human machine interface market is segmented by type, application, and end-users. On the basis of type, the market is further segmented into hardware, software, and services. Among these segments, the software segment is expected to hold the largest market share by the end of 2031, by growing at the highest CAGR during the forecast period owing to the ability of HMI software to offer flexibility and consistency in industrial operational performance. The hardware segment is also anticipated to show a significant market share by the end of the year 2031, since the development of technologies such as inbuilt assistance, touch screen LEDs, LCDs, and many others, are easy to handle and is widely used in every sector around the globe.
Global Human Machine Interface (HMI) Market Regional Synopsis
Regionally, the global human machine interface market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in North America region held the largest market share in the year 2021 on the back of advancement in technology and maximum use of interface in the region. Alternatively, the market in the Asia Pacific region is expected to grow at a higher CAGR over the forecast period on the back of increasing disposable income of people and growing population in this region which is increasing the demand for machine interfaces such as mobile phones, tablets, PCs and many more. In the Asia Pacific region, approximately 2.60 billion people use smartphones.
Our in-depth analysis of the global human machine interface (HMI) market includes the following segments:
By End Users
Oil & Gas
Metal & Mining
Growth Drivers and Challenges Impacting the Growth of the Human Machine Interface (HMI) Market
Increasing demand for smart automation
Rising need of advanced interface in manufacturing units
Evolution of the Industrial Internet of Things (IIoT)
Difficulty in adoption of latest technologies by vendors
High installation costs of machines
Key Companies Dominating the Human Machine Interface (HMI) Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global human machine interface (HMI) market that are included in our report are ABB, General Electric, Advantech Co., Ltd., Emerson Electric Co., Eaton, Honeywell International Inc., BARTEC, Beijer Electronics Group AB, Rockwell Automation, Inc., and Siemens among others.
Latest Developments in the Human Machine Interface (HMI) Market:
18 January 2022: Emerson Electric Co., announced a new edge solution “PACSystem Edge Solution” in order to simplify the creation of IIoT Applications and help OEMs and other end-users to organize and implement advanced edge computing.
17 March 2021: Beijer Electronics Group acquired the german company ELTEC Elektronik AG which is mainly focused on wireless communication in the rail industry. With this acquisition, the Beijer Electronics aim to widen their offerings within smart connection on board trains and subways.
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
The increasing demand for smart automation, rising need for advanced interface in manufacturing units and evolution of the industrial internet of things (IIoT) are few major factors driving the growth of the market
The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022-2031.
The difficulty in adoption of latest technologies by vendors and high installation costs of machines are estimated to hamper the market growth.
Which region will provide more business opportunities for growth of human machine interface (HMI) market in future?
The Asia Pacific region will provide more business opportunities for growth of human machine interface (HMI) market in future.
The major players in the market are ABB, General Electric, Advantech Co., Ltd., Emerson Electric Co., Eaton, Honeywell International Inc., BARTEC, Beijer Electronics Group AB, Rockwell Automation, Inc., and Siemens among others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, end users and by region.
Which segment captures the largest market size under type segment in the human machine interface (HMI) market?
The software segment is anticipated to hold largest market size in value and is estimated to grow with the highest CAGR over the forecast period and display significant growth opportunities.
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- General Electric
- Advantech Co.Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Beijer Electronics Group AB
- Rockwell Automation Inc.