The global Human Machine Interface (HMI)market is expected to reach USD 6.31 billion by 2022, according
to a new report by Grand View Research, Inc. Advancement in HMI programming
software in order to incorporate ability for managing multi-vendor environment
is anticipated to escalate industry growth over the next few years. Benefits
offered such as remote operation coupled with the widespread usage of HMIs
across oil & gas and water treatment plant for operating in harsh
conditions may also elevate product demand significantly. This has also
instigated vendors to manufacture devices with better wear and tear property.
Growing trend towards
protocol conversion to exchange data between all connected devices is estimated
to further catalyze human machine interface industry growth. Technological
development such as open platform architecture resulting in improvement of the
migration process is also anticipated to fuel demand considerably over the
forecast period.
High upfront capital and
need for change in business process to integrate HMIs are key challenges
anticipated to impact the industry. In addition, lack of skilled professionals
and awareness on HMIs among management and lower level executives may also pose
a challenge to market growth over the coming years.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/human-machine-interface-market
Further
key findings from the report suggest:
·
Interface software market accounted for
substantial revenue share in 2014. The segment is also anticipated to exhibit
high growth with an estimated CAGR exceeding 10% over the next few years. This
may be attributed to the increasing adoption of PC- based open source
monitoring and controlling system worldwide.
·
Development of new and innovative displays
along with emergence of industrial internet of things may contribute towards
further growth in the display terminal segment.
·
Oil & gas emerged as the dominant
application and accounted for over 20% of the overall revenue in 2014. This may
be attributed to increasing demand from the oil & gas sector owing to the
benefits offered by HMI regarding the flow of information inside a pipeline
without updated monitoring capabilities for overcoming a particular problem.
·
HMI offers several benefits regarding
driver safety and security by integrating solutions such as ADAS, ACC and LDW,
which are expected to drive demand in the automotive industry.
·
North America HMI market is estimated to
hold majority share and accounted for more than 30% of the consumption in 2014.
Additionally, Asia Pacific is anticipated to exhibit high growth over the next
few years. This may be attributed to the migration of manufacturing processes
to developing regions in order to capitalize on labor cost and high
availability of raw materials in this region.
·
Companies operating in the industry include
GE, Eaton, ABB, Honeywell, Siemens, Omron, Rockwell Automation, Emerson
Electric, etc.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has
segmented the global Human Machine Interface (HMI) market on the basis of
product, application and region:
HMI Product Outlook (Revenue, USD Million, 2012 - 2022)
·
Display Terminals
·
Interface Software
·
Industrial PCs
HMI Application Outlook (Revenue, USD Million, 2012 -
2022)
·
Automotive
·
Healthcare
·
Food & Beverages
·
Oil & Gas
·
Packaging
·
Aerospace & Defense
HMI Regional Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
View Press Release of this research
report by Grand View Research: http://www.grandviewresearch.com/press-release/global-human-machine-interface-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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