Human Machine Interface (HMI) Market to Reach $6.31 Billion by 2022 | Million Insights

The Global Human Machine Interface (HMI) Market is expected to reach $6.31 billion by 2022, owing to requirement of automation of complex industrial operations, improve productivity and efficiency.

Industrial processes have become more complex due to increase in competition and need to have competitive edge through product or service quality. Manufacturing industries are opting for automation to reduce the complexity of the operation process and to make to it cost effective. HMI software helps in industrial data management, integrated engineering, industrial communication and industrial security. Fully integrated automation has optimized the operation downtime, better performance due to interoperability of system tested components. The challenge in the HMI software and services marketplace is how suppliers can differentiate themselves and continue to offer increasing value propositions to end users and OEMs, especially in a slowing global economy. The market is extremely competitive and demand is expected to grow as many users recognize the benefits of HMI software.

Integration of Bluetooth and Wi-Fi in these products has improved device mobility, which is also anticipated to propel the demand over the forecast period. Evolution of industrial Internet of Things (IoT) has opened many opportunities. Advancement in technology will improve the process cycle time, make the process energy efficient and will provide data security. Smart HMI will give huge opportunities to the industries and is expected to have a positive impact on the demand.

This market is segmented on the basis of software type and verticals. On the basis of software type it is segmented as HMI/client, software modules, and supervisory/server. On the basis of verticals, it is segmented as manufacturing, automotive oil & gas sector, and aerospace.

In manufacturing sector HMI helps in simultaneous view of real-time and historical data, configuration, colours, fonts, scales, limits, formats, grid lines and viewing orientation, and data gathering from different sources on the same trend. Software features include big picture views with drill down capabilities, ActiveX control and automation, configurability of new charts with auto-scale and auto-band, annotation with audit trail, and batch mode with time shifting to compare trends.

North America human machine interface market is expected to emerge as a dominant segment owing to early technology adoption. Further, the rise in a number of automation projects and increase in the labour cost is expected to play a key role in driving the regional demand over the forecast period.

Europe is expected to show relatively slow growth rate owing to European economies facing downturn due financial debt. The presence of major automotive industries such as BMW, Audi, and Volkswagen has maintained slightly positive sentiment for the market. The market is expected to show huge growth as and the economies revive.

Asia Pacific human machine interface market is anticipated rapid growth owing to growing industrialization. Additionally, availability of raw materials and low-cost labour may also catalyse regional demand. Countries like India, China and Japan are showing rapid economic growth which has increased the industrial automation in these economies.

Major companies present in this market are Advantech Co., Ltd., American Industrial Systems Inc., B-Scada, Inc., Elektrobit Corporation, Interlink Electronics, Inc., Panasonic Corporation, Schneider Electric Software, LLC, and Siemens AG

Companies in the market have adopted various strategic initiatives such as new product development, merger and acquisition, and partnerships and collaboration in order to have a competitive advantage and strong market share.