Human Machine Interface Market worth US$ 3.85 Billion 2018 with a CAGR of 9.08%
The report "Human Machine Interface Market, By Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI), By Configuration Type (Stand-Alone HMI and Embedded HMI), By End User (Process Industries and Discrete Industries) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global Forecast to 2029".
The Human Machine Interface Market size is projected to grow from US$ 3.85 billion in 2018 to US$ 9.48 billion by 2028. The global human machine interface market is expected to register lucrative growth over the forecast period. This is attributed growing need for monitoring of production and responding to the changing demands through enhanced diagnostics is expected to drive the human machine interface market.
Furthermore, development in wireless technology have open-up a new avenues for the human machine interface market. Moreover, the technologies like DCS, PLC, SCADA, HMI, and MES, automation equipment has also developed to perform more complex actions at the low operating cost.
Additionally, difficulties in accessing information about remote locations, both physically and virtually makes various task even more tough, hence there is a need for remote automation, real-time control, monitoring and remote diagnosis of all the equipment and process generates a huge demand for human machine interface market.
Key Highlights:
· In June 2017, GE launched new solutions purpose built for industrial assets. GE digital launched an integrated solution to deliver the industrial service model of the future to reduce cost and eliminate unplanned downtime.
· In July 2017, ABB completed the acquisition of B&R, which is focused on the product and software-based, open architecture solutions for machine and factory automation worldwide.
Key Market Insights from the report:
The global human machine interface market accounted for US$ 3.85 billion in 2018 and is projected to register a lucrative CAGR of 9.08% over the forecast period. The market report has been segmented on the basis of offering, configuration type, end user and region.
· By offering the global human machine interface market is segmented into hardware and software. The hardware segment is further sub segmented into basic HMI, Advanced PC-based HMI, and Advanced Panel-Based HMI. Further, the software segment is sub-segmented into on-premise HMI and Cloud-based HMI.
· By configuration type the global human machine interface market is segmented into stand-alone HMI and Embedded HMI.
· On basis of End User the global human machine interface market is segmented into process industries, and discrete industries. . The process industries is sub segmented into oil and gas, energy and power, food and beverages, chemical, metals and mining, pharmaceutical and Others. Whereas, the discrete industries are further segmented into aerospace and defence, automotive, packaging, semiconductor and electronics, and medical devices.
· By region, North America linear motors market accounted for major revenue share of the global human machine interfaces market and is further anticipated to maintain its dominance over the forecast period. The market in Europe accounted for second-highest revenue share in 2018.
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The prominent player operating in the global human machine interface market includes Rockwell Automation Inc., Schneider Electric SE, Mitsubishi Electric Corporation, GE, Eaton, ABB, Honeywell, Siemens, Omron, and Emerson Electric.
OTHER RELATED REPORTS:-
https://chaitanya21blogs.blogspot.com/2022/08/human-machine-interface-market-is.html
https://sites.google.com/view/human-machine-interface-pmi/home
