According to a new report by US market researcher MarketsandMarkets, the global HMI market is expected to reach US$4.05 billion by 2017, at a CAGR of 10.13 per cent from 2012 to 2017.
As reported by the market researcher, the HMI market’s estimated worth in 2012 was $2.50 billion, and it is projected to grow exponentially by 2017. Currently, the Americas commands the largest share in the global HMI market followed by Europe and then APAC (Asia-Pacific).
APAC is currently growing at a higher CAGR than other regions and is expected to have the largest market share (28 per cent) of the total HMI market by 2017, according to the report. The higher CAGR of APAC is primarily due to its fast-growing economy and increased significance of automation industries.