According to the recent study the human machine interface market is projected to reach an estimated $8.5 billion by 2028 from $5.3 billion in 2023, at a CAGR of 9.9% from 2023 to 2028. Growth in this market is primarily driven by increasing use of industrial automation in manufacturing processes and growing use of modern technologies in industrial operation for smoother and faster production.
A more than 150–page
report is developed to understand trends, opportunities and forecast in human
machine interface market by product (hardware, software, and services), configuration
(embedded HMI and standalone HMI), end use industry (chemical &
petrochemical, paper & pulp, water & wastewater treatment, energy &
utilities, oil & gas, healthcare, food & beverages, automotive, and
others), and region (North America, Europe, Asia Pacific, and the Rest of the
World).
“Software market is expected to remain the largest segment during
the forecast period.”
Based on product, the
human machine interface market is segmented into hardware, software, and
services. Lucintel forecasts that the software market is expected to remain the
largest segment due to the rising use of HMI for monitoring operations, such as
control functions, alarms, and printing management reports.
“Within the human machine interface market, the automotive segment
is expected to remain the largest product.”
Based on product the automotive
segment is expected to witness the highest growth over the forecast period due
to the increasing use of HMIs in the automobile industry to let passengers and
drivers interact with the vehicles they drive and make driving safer and
distraction-free.
“North America will dominate the human machine interface market in
near future.”
North America will
remain the largest region due to the on-going development of modern generation
HMI solutions by leading market leaders in the region.
Major players of human
machine interface market are adopting various growth strategies like new
product launches, expansions, merger and acquisitions, partnerships,
agreements, and collaborations to expand their presence in this market. Rockwell
Automation, ABB, Siemens, Honeywell, and Advantech are among the major human
machine interface providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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