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HMI Market Estimated to Surpass $8.4 Billion by 2026

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HMI Market Estimated to Surpass $8.4 Billion by 2026

April 28
22:01 2021
HMI Market Estimated to Surpass $8.4 Billion by 2026

HMI Market.
Utilization of Industrial PCs and Other Data Utilization Devices are Witnessing Increased Scrutiny Which Will Hinder HMI Market.

The HMI Market is estimated to surpass $8.4 billion mark by 2026 growing at an estimated CAGR of more than 6.2% during the forecast period 2021 to 2026 on account of increasing demand of control panels and connected devices in industrial automation. The market growth is being propelled by rising demand from Aerospace & Defense. Human-machine interface (HMI) is a software component of certain devices which are designed to handle human-machine interactions. This interface is a combination of software and hardware which takes inputs from the users and translates the inputs as signals for machines that, in turn, provide the required result to the user. This human-machine interface technology is used in wide range of applications is expected to be driven by increasing trends of industrial and process automation in several industries.

HMI Market Segment Analysis – By Product

The market for HMIs are all set to propel into the commercial sector with a broad range of application in retail, branding, advertising and for promotional activities. The use of digital signage, Point of Sale (PoS), interactive kiosks is perceived to propel in the coming years on the back of the initiatives towards a digitized world, closely following the growth of Industrial IoT and Smart Factory concept or Industry 4.0. The market is also backed by the accelerating demand of touch screen panels in both passenger vehicles and commercial vehicles for driver assistance applications. Production efficiency is one of Industry 4.0 priorities and this will affect the evolution of HMIs. Companies need technological solutions that simplify the interaction between men and machines to increase productivity and cut resources and time waste. One of the key factors to improve efficiency is device flexibility. Hence, it’s important that HMIs will be highly customizable according to each company’s needs.

HMI Market Segment Analysis – By Applications

The technological advancements attained in the field of automation and the evolution of HMI technology has discovered a common platform to deliver new range of control function modules across all industrial applications both in industrial and commercial sector. Human Machine Interface are one of the emerging technology and is all set to showcase significant penetration across all the leading end-user industry verticals. The human-machine interface is an instinctive programming interface that allows operators to make efficient decisions and establish fast communication network with the help of Internet of Things (IoT) concept. HMIs have turned out to be an efficient solution for automation for a wide range of applications in manufacturing, digital signage, automotive, aerospace, retail and so on. The product has gained more adaptation in the commercial sector apart from its broad range of applications in industrial automation. In industry applications, HMI applications are basically used as operator panels, control and monitoring devices and industrial PCs.

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HMI Market Segment Analysis – By Geography

The Asia Pacific market for the HMIs is forecast to witness high rate of adaptation compared to other regions. The presence of a large number of developing markets in the APAC is one of the key factors driving the growth of the HMI Market. China, India and South-East Asian countries are speculated to make huge investments in the automation sector by 2022 to equip their manufacturing and industrial plants with automated solutions to improvise the production process and achieve set targets. Japan being one of the technologically advanced nations is a significant market for HMIs and is currently using these devices across all sorts of industry verticals at a higher scale. Australia and New Zealand are the mature markets but the HMIs shipments are projected to surge as the countries are shifting towards more automated and advanced military equipment.

HMI Market Drivers

Rising Wearable and Portable HMI

The human-machine interface of the future will get even more interactive. The growing popularity of wearable devices in the consumer market which are exhibiting a growth of over 16% will also be reflected in the manufacturing sector. This is also due to the government regulations driving industrial automation such as Italy’s National Industry 4.0 Plan, Germany’s I40 strategy and Japan’s Connected Industries Plan which mention arable devices among the technologies subject to hyper-depreciation. For example, operators will likely wear bracelets that alert them of alarms with a specific code so that they can intervene in a timely manner. The increased adoption of these solutions will drive the demand for HMI market.

HMI in Interactive Robots

The growing digitized world is the major factor attributing global industry growth to the 4.0 market. Industry 4.0 innovations such as IoT and smartphone voice assistants provide good shopping experience for customers. Another factor that fuels market growth is the manufacture of robots using Industry 4.0. Robots made using I4.0 will interact and work safely beside humans without causing any harm to them. These robots work more effectively than humans, and are available on the market at low cost. The deployment of Interactive Robots and Cobots will propel adoption of HMI in this new avenue which will propel market growth.

HMI Market Challenges

Lack of Security

The missing growth factor for the industry 4.0 market is security. According to the 2018 IBM-X Force Threat Intelligence Index, manufacturing is the second-largest targeted industry for attacks. Due to less security, industry 4.0 technologies are allowing hackers to attack the manufacturer’s data and also infecting new systems to detention and vend confidential information. Thus, the utilization of industrial PCs and other data utilization devices are witnessing increased scrutiny which will hinder HMI market.

HMI Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the HMI Market. Siemens AG, Schneider Electric SE, General Electric, ABB Ltd, Fuji Electronics Co., Ltd., Mitsubishi Electric Corporation, Omron Corporation and others are considered to be the key players of the HMI Market.

Acquisitions/Technology Launches/Partnerships

ABB launched a new version of Minerals Process Control Library with a new visual control graphic interface HMI; the first to display process information in its situational context.

Siemens Energy and Automation Inc.’s Industrial Software Business Unit has released SIMATIC WinCC Version 5.0, a 32-bit HMI (Human-Machine Interface) software integrated with Microsoft Windows NT V4.0.

Key Takeaways

The surge in demand of multi-touch screen technology for advanced applications in automotive, manufacturing and oil & gas industry is set to drive the demand and growth for the HMI market during the forecast period.

The concept of integrating HMI with mobile and wireless devices for better connectivity to fuel the global HMI market demand.

The price of the advanced software for data visualization and interpretation could pose a threat to the adaptation of the HMI devices. However, the functions performed by these HMIs and the ability of these devices to cut short time and to bring down the operating expenses will certainly overpower the constraints and challenges for the HMI market.

Related Reports :

A. Embedded System Market

https://www.industryarc.com/Report/15402/embedded-system-market.html

B. Industrial PC Market 

https://www.industryarc.com/Report/15419/industrial-pc-market.html

For more Electronics Market reports, please click here

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