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Grand View Research, Inc. – Market Research And Consulting.

According to a new report, “Human Machine Interface (HMI) Market Analysis By Product (Display Terminals, Interface Software, Industrial PC), By Application (Automotive, Healthcare, Food & Beverages, Oil & Gas, Packaging, Aerospace & Defense) And Segment Forecasts To 2022”, published by Grand View Research, Inc., the global Human Machine Interface (HMI) market is anticipated to reach USD 6.31 billion by 2022. Developments in HMI programming software to integrate multi-vendor environment management ability is expected to fuel market growth over the coming years. In addition, advantages offered such as remote operation along with wide usage of HMIs in oil and gas and water treatment units for operating in harsh climates may also boost product demand significantly. This has also instigated companies to develop devices with better wear and tear properties.

Key Takeaways from the report:

• 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. 

Europe human machine interface market share by product, 2012 – 2022 (USD Million)

Growing trend of protocol conversion for the exchange of data between all connected devices is anticipated to further catalyze HMI market growth. Moreover, technological advancements such as open platform architecture or OPA resulting in improvement of migration process is also likely to spur the demand in coming years.

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Factors such as rising need for change in business process to incorporate HMIs along with high upfront capital may have adverse effects on the market development. Furthermore, awareness regarding HMIs among management and lower level staff along with the lack of experienced professionals may also affect the industry growth.

 Access complete Electronic Devices Report Portfolio By Grand View research, Inc.

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