NEW YORK, July 13, 2023 /PRNewswire/ -- As per Facts and Factors study, the global Human Machine Interface (HMI) market size was valued at USD 5.7 billion in 2022 and is expected to reach a value of USD 10.1 billion by 2030, registering a CAGR of 10.4% during the forecast period (2023- 2030). The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market. The human machine interface (HMI) market report covers the geographical market along with a comprehensive competitive landscape analysis.
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Human Machine Interface (HMI) Market: Overview
Human Machine Interface (HMI) is a user interface connecting human resources with machines or any system. It offers a plethora of benefits such as flexible operations, enhanced productivity, and high employee satisfaction. HMI technologies help in tracking production processes in various industries and help in increasing output.
Moreover, engineers make use of human-machine interfaces for effectively monitoring and controlling algorithms, sending commands, and setting up parameters in the controller. For the record, the human-machine interface also displays process status data and historical information.
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Key Industry Insights & Findings of the Human Machine Interface (HMI) Market Reports:
- As per the analysis, the Human Machine Interface (HMI) market share is likely to grow above a CAGR of around 10.4% between 2023 and 2030.
- The Human Machine Interface (HMI) market size was worth around USD 5.7 billion in 2022 and is estimated to hit approximately USD 10.1 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The global human machine interface market is anticipated to record massive growth over the forecast period owing to surging demand for monitoring manufacturing units in a slew of sectors such as oil & gas, mining, and automotive.
- Based on the product, the software segment is predicted to contribute majorly towards the global market share over the forecast timeline.
- In terms of configuration, the embedded HMI segment is projected to record the highest CAGR over 2023-2030.
- Based on end-use industry, the automotive segment is slated to dominate the segmental surge over the forecast period.
- Region-wise, the Asia-Pacific human machine interface (HMI) market is projected to register the highest CAGR during the assessment period.
Facts and Factors published the latest report titled "Human Machine Interface (HMI) Market Size, Share, Growth Analysis Report By Product (Hardware and Software), By Configuration (Embedded HMI and Standalone HMI), By End-Use Industry (Oil & Gas, Automotive, Packaging, Pharmaceuticals, Food & Beverages, and Utility), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 - 2030" into their research database.
Market Dynamics:
Human Machine Interface (HMI) Market: Growth Drivers & Restraints
The growing use of human-machine interfaces in vehicle dashboards, equipment monitoring, electronic displays, and audio & video production will steer the growth of the global human machine interface (HMI) market. Escalating demand for human-machine interfaces in SCADA will prompt global market trends.
In addition to this, the human-machine interface is used for visualizing data display, input & output monitoring of equipment, and tracking of production time as well as machine performance. All these aforementioned factors will boost the expansion of the global market.
Furthermore, large-scale use of the human-machine interface in oil & gas, transport, power & energy, water & wastewater management, and manufacturing & recycling activities will proliferate the expansion of the market across the globe.
Nevertheless, a prominent rise in the cost of deploying human machine interface systems can restrict the expansion of the human machine interface industry globally. However, the rise in the use of augmented reality & virtual reality techniques will open new growth opportunities for the industry across the globe. This, in turn, will offset the negative impact of hindrances on the global industry elevation.
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Global Human Machine Interface (HMI) Market: Segmentation Overview
The global human machine interface market is divided into product, configuration, end-use industry, and region.
The product segment of the human machine interface (HMI) market is sub-segmented into hardware and software segments. Furthermore, the software segment, which garnered a major share of the global market in 2022, is anticipated to establish its leading position in the upcoming years. The segmental growth over 2023-2030 can be owing to the growing demand for HMI software in improving the proficiency of manufacturing processes.
In May 2023, Rockwell Automation, Inc., a key U.S.-based firm providing industrial automation and online transformation tools, introduced a new FactoryTalk® Optix, an open, flexible, and scalable HMI software tool. Furthermore, this new HMI software tool will help end-users in designing, testing, and deploying applications directly from a browser from any location at any time.
In addition to this, in August 2022, AVEVA, an information technology firm, introduced new operations control software, a major coordinated launch of the HMI software product line. The launching of new software is likely to boost the efficiency of its workforce.
In terms of configuration, the human machine interface (HMI) industry across the globe is segmented into embedded HMI and standalone HMI segments. Moreover, the embedded HMI segment, which dominated the segmental growth in 2022, is anticipated to record the fastest CAGR in the forthcoming years.
The segmental growth over the forecast timeline can be owing to a spectrum of benefits offered by embedded HMI such as a user-friendly environment for end-users. In addition to this, escalating demand for integrated services will prop up segmental growth.
On the basis of the end-use industry, the human-machine interface market globally is bifurcated into oil & gas, automotive, packaging, pharmaceuticals, food & beverages, and utility segments. Moreover, the automotive segment, which accounted for about half of the global market share in 2022, is predicted to establish its leadership position in the upcoming years. The segmental surge can be subject to humungous demand for vehicles in developing economies and innovations witnessed in the automotive sector.
For the record, in the last quarter of 2022, Grupo Antolin, an automotive firm supplying tech solutions for car interiors, launched a new upper trim concept characterized by human design for overhead tools. The move will increase the use of human-machine interfaces in the automotive industry.
Recent Developments:
- In the second half of 2019, ABB Limited, a Switzerland-based company, launched a new type of human machine interface software integrated with a new visual control graphic interface. The move is predicted to boost the expansion of the human machine interface (HMI) market in the years ahead.
- In the third quarter of 2019, Blackberry Limited, a software firm, and DENSO Corporation, a key automotive part manufacturer based in Japan, joined hands with SUBARU for launching integrated human machine interface digital cockpit tool and Blackberry QNX systems that enable control of human-machine interface tool in vehicles. The strategic move will embellish the growth of the global industry.
- In the first half of 2019, Siemens, the largest industrial manufacturing firm, introduced a new version of human-machine interface software. The initiative will embellish the business landscape.
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Competitive Players
The report contains qualitative and quantitative research on the global Human Machine Interface (HMI) Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Human Machine Interface (HMI) market include;
- Rockwell Automation Inc.
- General Electric Company
- Yokogawa Electric Corporation
- ABB Limited
- Mitsubishi Electric Corporation
- Siemens AG
- Schneider Electric SE
- Jabil Inc.
- Beckhoff Automation
- Honeywell International Inc.
- Omron Corporation
- Emerson Electric Co.
- Advantech Co. Ltd.
- Exor International
- Eaton Corporation
Key questions answered in this report:
- What is the growth rate forecast and market size for Human Machine Interface (HMI) Market?
- What are the key driving factors propelling the Human Machine Interface (HMI) Market forward?
- What are the most important companies in the Human Machine Interface (HMI) Market Industry?
- What segments does the Human Machine Interface (HMI) Market cover?
- How can I receive a free copy of the Human Machine Interface (HMI) Market sample report and company profiles?
Report Scope:
Report Attribute | Report Details |
Market Size in 2022 | USD 5.7 Billion |
Market Forecast in 2030 | USD 10.1 Billion |
Growth Rate | CAGR of 10.4% |
Base Year | 2022 |
Forecast Years | 2023- 2030 |
Key Companies Covered | Rockwell Automation Inc., General Electric Company, Yokogawa Electric Corporation, ABB Limited, Mitsubishi Electric Corporation, Siemens AG, Schneider Electric SE, Jabil Inc., Beckhoff Automation, Honeywell International Inc., Omron Corporation, Emerson Electric Co., Advantech Co. Ltd., Exor International, Eaton Corporation., and others. |
Segments Covered | By Product, Configuration, End-Use Industry and Region |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Regional Overview:
Region-wise, the North American human machine interface (HMI) industry, which contributed nearly half of the global industry share in 2022, is slated to witness a noteworthy expansion during the anticipated timeframe.
The factors that are anticipated to spearhead the expansion of the regional market include an increase in the presence of a large number of service providers in Canada and the U.S. In addition to this, the growing use of new technologies in the region will prompt regional market expansion. An increase in the demand for HMI in a plethora of industries in Canada and the U.S. will drive regional business trends.
Global Human Machine Interface (HMI) Market is segmented as follows:
By Product
- Hardware
- Software
By Configuration
- Embedded HMI
- Standalone HMI
By End-Use Industry
- Oil & Gas
- Automotive
- Packaging
- Pharmaceuticals
- Food & Beverages
- Utility
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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