According to a new report from Research and Markets, the Human Machine Interface (HMI) market is expected to be worth US$5.86 billion by 2022, growing at a CAGR of 9 per cent between 2016 and 2022.
The growth of this market is propelled by growing acceptance of industrial automation equipment in the manufacturing sector, evolution of industrial internet of things (IIoT) and increasing demand for smart automation solution, and growing need of efficiency and monitoring in the manufacturing plant.
The hardware segment led the global market in terms of market share in 2015. The hardware segment includes basic HMI, advanced panel-based HMI, and advanced PC-based HMI. The market for advanced panel-based HMI is expected to witness the highest CAGR during the forecast period, driven by increasing demand for mobile HMIs. In addition, the advanced panel-based HMIs have high demand in industries such as oil and gas, chemical, and energy and power, where critical operations are involved. These industries demand advanced solutions to enhance the visibility of production process.
Furthermore, the market for embedded HMI solutions is expected to hold a larger market size by 2022 owing to increasing adoption of the embedded HMI solutions in the process industry. Embedded platforms enable easy communication between two machines and provide easy access to operators, and thus help operators in process industries to gain more process visibility.
The discrete industry dominated the human machine interface market in 2015. A growing need for monitoring and controlling solutions in the automotive, packaging, and aerospace and defence industries is expected to drive market growth in the discrete industry throughout the forecast period. The automotive industry is expected to hold the largest size of the global HMI market for discrete industry between 2016 and 2022. Intensified operation of automotive manufacturing companies to cater to the increasing demand for automobiles is expected to drive the demand of the HMI solutions in this industry.
Companies mentioned in the report include:
- ABB
- Advantech
- Emerson Electric
- General Electric
- Honeywell International
- Kontron
- Mitsubishi Electric
- Rockwell Automation
- Schneider Electric
- Siemens
- Yokogawa Electric