Human-Machine Interface Market to be Worth $8.57 Billion by 2030 - Exclusive Report by Meticulous Research®

REDDING, Calif., May 3, 2024 /PRNewswire/ -- According to a new market research report titled, 'Human Machine Interface (HMI) Market By Offering (Hardware (Display Units, Others), Software, Services), Configuration (Connected, Web-based), End-use Industry (Oil & Gas, Automotive, F&B, Others), & Geography - Global Forecast to 2031,' the human-machine interface market is projected to reach $8.57 billion by 2031, at a CAGR of 8.7% from 2024 to 2031.

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Human-machine Interface (HMI) is a user interface or dashboard that connects a person to a machine, system, or device. HMI has a common role of interaction with operators, system integrators, and engineers, particularly control system engineers, in a wide range of manufacturing industries, including automotive, medical devices, and aerospace & defense. HMI streamlines industrial processes by digitizing and centralizing data presentation. Through HMI interfaces, operators gain access to vital information presented via graphs, charts, or digital dashboards, facilitating alarm management and integration with SCADA, ERP, and MES systems, all from a unified console. The growth of the human-machine interface market is driven by the growing adoption of Industrial IoT (IIoT) and increasing emphasis on user-friendly interfaces. High costs associated with the installation and maintenance of HMIs may restrain market growth.

Additionally, the integration of AI and edge computing technologies in HMI systems and emerging applications of augmented reality (AR)/virtual reality (VR) across various industries is expected to generate growth opportunities for the players operating in this market. However, the concerns regarding security are major challenges impacting the market's growth. The adoption of mobile-based HMI solutions is a key trend in the human-machine interface market.

The human-machine interface market is segmented by offering (hardware (control panels, display units, touchscreens, connectors & cables, other hardware), software, services), configuration (connected HMI, web-based HMI), end-use industry (automotive, oil & gas, food & beverages, energy & power, chemicals, pharmaceuticals & life sciences, aerospace & defense, medical devices, and other end-use industries), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

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Based on offering, the global human-machine interface market is segmented into hardware, software, and services. In 2024, hardware is expected to account for the largest share of 38% of the human-machine interface market. The large market share of this segment is driven by increased automation across industries such as manufacturing, automotive, and healthcare. This surge in demand stems from the need for advanced control and monitoring systems to optimize operational efficiency and safety. Also, the integration of IoT and Industry 4.0 initiatives further fuels the segment's expansion, facilitating seamless connectivity and data exchange between machines and operators. However, the hardware segment is projected to record the highest CAGR during the forecast period.

Based on configuration, the human-machine interface market is segmented into connected HMI and web-based HMI. In 2024, the connected HMI segment is expected to account for the larger share of the global human-machine interface market. The large market share of this segment is attributed to the increasing demand for robotization, automated manufacturing activities, and connectivity in industries, coupled with advancements in networking technologies. However, the web-based HMI segment is projected to record the highest CAGR of 10.0% during the forecast period.

Based on end-use industry, the human-machine interface market is segmented into automotive, oil & gas, food & beverages, energy & power, chemicals, pharmaceuticals & life sciences, aerospace & defense, medical devices, and other end-use industries. In 2024, the automotive segment is expected to account for the largest share of 25% of the human-machine interface market. The large market share of the segment is attributed to the increasing consumer demand for advanced infotainment, navigation, and driver-assistance systems. Furthermore, advancements in augmented reality displays, voice recognition, and touch-sensitive interfaces are driving the adoption of sophisticated HMIs in vehicles. Additionally, regulatory requirements for enhanced safety features and the rise of autonomous driving technologies further propel the growth of HMI solutions in the automotive sector.

The automotive segment is also projected to record the highest CAGR  during the forecast period.

Based on geography, the human-machine interface market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the human-machine interface market. Asia-Pacific human-machine interface market is estimated to be worth USD 1.9 billion in 2024. The large market share of the Asia-Pacific region is attributed to the rapid expansion of the automotive, manufacturing, and consumer electronics industries. Increasing urbanization, rising disposable incomes, and technological advancements in HMI panels are driving the demand for intuitive and user-friendly interfaces in various sectors. Furthermore, government initiatives promoting industrial automation and smart infrastructure development contribute to the growth of the HMI market in Asia-Pacific. Also, the region is projected to record the highest CAGR during the forecast period.

The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants in the last three to four years. The key players operating in the human-machine interface market are Siemens AG (Germany), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Honeywell International Inc. (U.S.), B&R Industrial Automation GmbH (Austria), Emerson Electric Co. (U.S.), General Electric Company (GE Group) (U.S.), Advantech Co., Ltd. (Taiwan), Maple Systems (U.S.), Omron Corporation (Japan), Eaton Corporation plc (Ireland), Exor International S.p.A. (Italy), Kinco Electric (Shenzhen) Ltd. (China) and General Industrial Controls Private Limited (India).

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Scope of the report: 

Human Machine Interface Market Assessment, by Offering

• Hardware
  • Control Panels
  • Display Units
  • Touchscreens
  • Connectors & Cables
  • Other Hardware
• Software
• Services

Human Machine Interface Market Assessment, by Configuration

• Connected HMI
• Web-based HMI

Human Machine Interface Market Assessment, by End-use Industry

• Automotive
• Oil & Gas
• Food & Beverage
• Energy & Power
• Chemical
• Pharmaceuticals & Life Sciences
• Aerospace & Defense
• Medical Devices
• Other End-use Industries

Human Machine Interface Market Assessment, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Latin America
• Middle East & Africa

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