PUNE, India, January 24, 2017 /PRNewswire/ --
The human machine interface (HMI) market is expected to be valued at USD 5.86 billion by 2022, growing at a CAGR of 9.0% between 2016 and 2022 while the market for software segment expected to grow at the highest rate during the forecast period dominated by Asia-Pacific.
Browse 74 tables and 86 figures, 11 Company profiles spread across 172 pages available at http://www.reportsnreports.com/reports/208651-human-machine-interface-market-global-forecast-analysis-2012-2017-by-product-display-terminals-controls-industrial-pc-interface-software-application-and-geography.html .
The key driving factors for the growth of the human machine interface (HMI) market are increasing adoption of industrial automation equipment in the manufacturing sector, evolution of industrial internet of things (IIoT) and rising demand for smart automation solution, and growing need of efficiency and monitoring in the manufacturing plant. However, high installation cost and complex designing structure of human machine interface (HMI) are some of the key factors restraining the growth of the HMI market.
The human machine interface (HMI) market for software offering is expected to grow at a higher rate during the forecast period. HMI software systems offer flexibility and reliability and also enhance efficiency of the production process, which is expected to increase the demand of human machine interface (HMI) software during the forecast period.
The oil and gas industry is expected to hold the largest size of the human machine interface (HMI) market during the forecast period. Safety and reliability of the oil and gas plant is crucial for the management of entire plant. Thus, the industry needs human machine interface (HMI) solutions for ensuring the safety and operational efficiency of the oil and gas plants.
The key players in the human machine interface (HMI) market include ABB Ltd. (Switzerland), Advantech Co., Ltd. (Taiwan), Emersion Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International Inc. (U.S.), Kontron AG (Germany), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan). Order a copy of Human Machine Interface Market (HMI) by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration Type (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=208651 .
The HMI market in APAC is expected to grow at the highest rate between 2016 and 2022. The major factors driving the HMI market in the APAC region are continuous advancements and technological innovations in different industries, economic development in China, Japan, and India, growing infrastructure developments, and increasing foreign investment in the region. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of human machine interface (HMI) solutions in the region.
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