Primary factors that are fueling the growth of the Human Machine Interface Market are the surging adoption of industrial automation in the manufacturing process, growing demand for smart automation solutions, and the evolution of IoT
JERSEY CITY, N.J., June 23, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Human Machine Interface Market" By Offering (Hardware, Software, Cloud, On-Premise), By End-Use Industry (Paper And Pulp, Water And Waste Water Treatment), By Type (Interface Software, Touch Screen, Remote Panel), By Application (Factory Automation, Smartphones And Tablets, Electronic Consumer Applications), and By Geography. According to Verified Market Research, the Human Machine Interface Market size was valued at USD 3.44 Billion in 2021 and is projected to reach USD 7.17 Billion by 2030, growing at a CAGR of 8.74% from 2022 to 2030.
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Global Human Machine Interface Market Overview
The primary factor for driving the growth of the Human Machine Interface Market is, that HMI has vastly improved manufacturing processes in various industry verticals including Chemical & Petrochemical, Paper & Pulp, Water & Waste Water Treatment, Energy & Utilities, Oil & Gas, Pharmaceutical, Food and Beverages, Automotive. Thus, the use of HMI in various avenues is driving the growth of the Human Machine Interface Market. In addition, HMI enables data acquisitions and supervisory control in the entire system, hence parameter changes are feasible as the operators choose. For example in metal manufacturing, HMI will control the method and speed at which metal is going to cut and fold.
Furthermore, the growing Internet of Things (IoT) across the globe is boosting demand for Human Machine Interface Market as the growing use of connected devices is demanding more sophisticated HMIs. Industrial factory and control automation devices are implemented to eliminate human intervention in the process of developing products and services. This, in turn, helps to reduce production and labor costs thereby helping to increase the production output. The human-machine interface plays a crucial part in industrial automation which improves industrial controls.
Key Developments
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In February 2020, Rockwell Automation acquired ASEM, an expert in the HMI and IPC market to strengthen its control and visualization portfolio. This acquisition will help Rockwell's control & visualization hardware and software portfolio to expand which will improve the company's ability to deliver high-performance, integrated automation solutions.
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In September 2019, ABB launched new generation HMIs, it has reinvented the process control to make real-time information more accessible to operators. The company launched a new version of Minerals Process Control Library with a new visual control graphic interface, the first to display process information in its situational context.
Key Players
The major players in the market are ABB Ltd., Honeywell International Inc., Rockwell Automation Inc., Mitsubishi Corporation., Schneider, Electric Se., Emerson Electric Co., Eaton Corporation, Dassault Systems, Advantech Co, Ltd, and Yokogawa among others.
Verified Market Research has segmented the Global Human Machine Interface Market On the basis of Offering, End-Use Industry, Type, Application, and Geography.
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Human Machine Interface Market, By Offering
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Human Machine Interface Market, By End-Use Industry
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Human Machine Interface Market, By Type
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Human Machine Interface Market, By Application
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Human Machine Interface Market, by Geography
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