The global human machine interface market revenue was around US$ 4 billion in 2022 and is estimated to reach US$ 10.06 billion by 2031, growing at a compound annual growth rate (CAGR) of 10.8% during the forecast period from 2023 to 2031.
A human-machine interface (HMI) is a part of an electronic component that makes it simple for a user to engage and communicate with a system or machine. HMI is made up of several software and hardware components that transform human inputs into signals that the machine may utilize to produce outcomes.
Market Driving Factors
Quick evolution to process and access information on the shop floor and other multiple places propels the market growth. Numerous manufacturing industries worldwide are facing difficulties regarding operating and accessing vast volumes of operational data. HMI software solutions are growing rapidly to process and access information at shop floor, and other multiple locations. Manufacturers seek cutting-edge HMI solutions that help multi-node, multi-process applications with instinctive graphic interfaces for complicated manufacturing and processing applications. End-user industries such as aerospace, automotive, defence, and others prefer intelligence panels over conventional HMI systems owing to the increasing need to process data at numerous locations in the manufacturing plant.
Research and development activities among key players boost the market. Key players are concentrating on research and development activities to extend their product portfolio. For instance, Qt, a provider of software technology, introduced a novel HMI software framework for creating next-generation digital cockpits.
The high installation price of a human-machine interface system acts as a restraint for market expansion.
Regional Analysis
North America dominates the market in terms of revenue. This is due to the increased adoption of industrial automation in production. Furthermore, growing demand for intelligent automation solutions, advancements in the industrial Internet of Things (IoT) technology, and the increasing desire to monitor and surge the productivity of manufacturing facilities. The region's high oil and gas output as well as the effective distribution of oil products around the country have both been made possible by automation. The region is also a significant player in the oil and gas industry and one of the top producers of crude oil. For instance, the EIA predicts that the region will produce 19.78 million barrels of crude oil per day.
Segmentation Insights
Offering Insight
The hardware segment dominated the market in terms of revenue and is estimated to continue its dominance over the forecast period. They can offer exact information to machine operators on a single running machine cycle, transmit the statistical analysis of throughput to employees and plant supervisors, substitute printed paper charts on facility bulletin boards, and offer plant managers remote access to global data through mobile and smartphone devices. Therefore, numerous HMIs filter data before transmitting it to its last destination and allowed audience.
Configuration Insight
The embedded HMI segment dominates the market in terms of shares. This is due to the increasing requirement for integrated systems and the comfort of machine-to-machine contact. This is especially useful for machine producers who want to provide complete packages to customers without having to set up and integrate a particular system. This segment enables the growth of software for a broad range of devices with variable features.
Industry Vertical Insight
Oil and gas segments dominate the market over the forecast period. This segment has increased its reliance on industrial HMI displays and computers because of recent efforts to improve safety and operational efficiency. Similarly, current industrial HMI has become synonymous with the tough monitor and computer industries, with grown features and performance better suited for operating in the difficult and hazardous conditions associated with the world's oil and gas industry's core sectors.
Prominent Companies
Segmentation Outline
The global human machine interface market segmentation focuses on Offering, Deployment Mode, Configuration, Industry Vertical, and Region.
By Offering
By Deployment Mode
By Configuration
By Industry Vertical
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL HUMAN MACHINE INTERFACE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: HUMAN MACHINE INTERFACE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL HUMAN MACHINE INTERFACE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL HUMAN MACHINE INTERFACE MARKET, BY OFFERING
5.1 OVERVIEW
5.2 HARDWARE
5.3 SOFTWARE
6 GLOBAL HUMAN MACHINE INTERFACE MARKET, BY DEPLOYMENT MODE
6.1 OVERVIEW
6.2 ON-PREMISE
6.3 CLOUD
7 GLOBAL HUMAN MACHINE INTERFACE MARKET, BY CONFIGURATION
7.1 OVERVIEW
7.2 EMBEDDED HMI
7.3 STANDALONE HMI
8 GLOBAL HUMAN MACHINE INTERFACE MARKET, BY INDUSTRY VERTICAL
8.1 OVERVIEW
8.2 OIL AND GAS
8.3 FOOD AND BEVERAGES
8.4 CHEMICALS
8.5 PHARMACEUTICALS
8.6 METAL AND MINING
8.7 AUTOMOTIVE
8.8 AEROSPACE
8.9 OTHERS
9 GLOBAL HUMAN MACHINE INTERFACE MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL HUMAN MACHINE INTERFACE MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 MITSUBISHI ELECTRIC CORPORATION
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 SCHNEIDER ELECTRIC
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 SIEMENS AG
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 GENERAL ELECTRIC
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 ROCKWELL AUTOMATION INC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 EMERSON ELECTRIC CO
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 ADVANTECH CO., LTD
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. YOKOGAWA ELECTRIC CORPORATION
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 ABB
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 HONEYWELL INTERNATIONAL INC
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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