In the human machine interface market, Precedence Research states that the HMI is a user interface that assists a person in connecting with a machine, device, or system. North America has held the largest market share of 30% in 2022.
Ottawa, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The global human machine interface market size surpassed USD 5.5 billion in 2022, grew to USD 6.06 billion in 2023, and is estimated to value around USD 14.99 billion by 2032, expanding at a remarkable CAGR of 10.6% from 2023 to 2032.
A human machine interface is exactly the same as what the name implies. A human machine interface is a user interface that assists a person in connecting with a system, machine, or devices. ATM machines, self-service kiosks, gas station pumps, self-checkout lines, and others use Human-Machine Interface (HMI) in order to process user inputs and convert them to machine-readable code, and then simply perform the task without any need for an employee or attendant.
In manufacturing and process control systems, a human machine interface plays an active role in the visual representation of the control system and delivers real-time data acquisition. A human machine interface can enhance productivity by offering a centralized display of the control process, which seems to be very user-friendly. HMI boosts productivity and reduces operation costs by replacing indicator lights and traditional push buttons.
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Key Insights:
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By Offering, the software segment has held the biggest revenue share in 2022.
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By Configuration, the embedded HMI segment held the major market share in 2022.
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By End-user, the automotive segment had the largest market share in 2022.
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Over the course of the projection period, Asia Pacific is anticipated to increase at the fastest rate.
Growth Factors of Human Machine Interface Market
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The use of artificial intelligence plays a pivotal role in driving the vehicle of technology to a higher level in the coming years. The use of artificial intelligence in human machine interface is taking the interaction between humans and machines to the next level. The active role of the human machine interface in operations, security, production, and others is likely to carve the way for market growth during the forecast period.
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In the military and aerospace sector, human machine interface plays a critical role. Advanced technologies such as digital mapping, cross-domain guard data security systems, and others are deployed for aerospace and defense applications.
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The growth of the human machine interface market is driven by factors such as the increasing adoption of smart technological solutions, increasing investment in industrial automation, rapid industrialization and rapid growth of the automotive sector.
Regional Stance:
North America carries the dominating share of the market. The North American market has experienced significant growth in recent years, driven by factors such as increasing consumer demand for convenience, comfort, and security. Factors such as increasing investment in advanced technologies, the presence of well-established infrastructure, the large presence of solution providers, increasing demand for self-driving cars, and rising use of different functions in automobiles using the touch screen are expected to drive the growth of the market in the North America. Increasing use of human machine interface applications such as centralized control rooms portable handheld devices, digital signage, factory floor machines, vending machines, and many more in the United States is another potential factor determining the dominance of this region.
On the other hand, the Asia Pacific is observed as a rapidly growing region in the market; the rising technological advancements, rapid growth of the manufacturing industry increasing use of digital signage and increasing numbers of automobile users are a few factors that supplement the growth of the market. The ongoing rapid industrialization in China and India is expected to offer growth opportunities to the market.
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For instance, according to the IBEF report published in 2023, supportive government initiatives such as Make in India, Startup India and Digital India have given much needed thrust to the Electronics System Design and Manufacturing (ESDM) sector in India. According to the Indian government, it is projected that the electronics manufacturing sector to be worth USD 300 billion by 2030.
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Report Highlights:
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By Offering, the software segment holds the dominating share of the market. Multiple industries including automotive, and manufacturing seek solutions or platforms that offer customization options. Where human machine interface software is well known for offering solutions for custom application development, this factor along with the scalability benefit offered by software for human machine interface system promotes the segment’s growth.
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By Configuration, the embedded HMI segment of the market held the largest share in 2022. Human machine interface systems with embedded configurations are known for withstanding harsh environments and complex conditions. Multiple industries including automotive and manufacturing along with instrumentation require such systems. Thus, the segment is observed to witness a significant rate of growth during the forecast period.
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By End-User Industry, the automotive segment is expected to maintain its dominance during the forecast period owing to the continuous upgradations in the automotive sector. Multiple human machine interface systems offer digital monitoring systems with advanced technological solutions, this factor is expected to boost the adoption of HMI systems by automobile manufacturers owing to the rapid adoption of smart vehicles.
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Human Machine Interface Market Scope
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Report Coverage |
Details |
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Growth Rate from 2023 to 2032 |
CAGR 10.6% |
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Market Size in 2023 |
USD 6.06 Billion |
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Market Size in 2032 |
USD 14.99 Billion |
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U.S. Market in 2023 |
USD 1.27 Billion |
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U.S. Market in 2032 |
USD 3.12 Billion |
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North America Share |
30% in 2022 |
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Fastest Growing Region |
Asia Pacific from 2023 to 2032 |
Market Dynamics:
Driver:
Increasing use of HMI across various industries
The increasing use of HMI across various industries with the aim of improved communications between a human and a machine. Artificial Intelligence (AI) is anticipated to drive the vehicle of technology to a higher level and the rapid use of AI in human machine interface is likely to take communication between humans and machines to the next level. Human machine interface is widely used in various industries including military, electronics, entertainment, aviation, healthcare, and others. In automotive, the use of human machine interface ensures a secure, convenient, and informative connection between the vehicle and its occupants. In the field of healthcare or medicine, the human machine interface plays a crucial role. It aids in carrying out various psychological studies on the human brain and other vital organs. The adaptation techniques and theories can be studied with the help of HMI systems.
The important human machine interface solution includes critical equipment controls, medical device interface, membrane keypads for medical equipment and infrastructure, fully sealed panels, and others. In railways, human machine interface meets rail industry specifications and significantly helps in reducing cost and time. For the rail industry, the crucial human machine interface solutions include driver cab panels, ticket machines, passenger seat controls, emergency call panels, and others. The active role of the human machine interface in operations, security, production, and others is expected to fuel the market’s growth during the forecast period.
Restraint:
The high initial investment
The high initial investment associated with the implementation of the human machine interface is likely to hamper the market. A high initial capital investment is required to set up the well-established infrastructure, purchase hardware components, and implement advanced software solutions. The slow adoption of human machine interface in many low and middle-income countries is projected to restrain the growth of the market due to budget constraints and is projected to act as a major obstacle for the market’s expansion.
Opportunity:
Increasing adoption of Industry 4.0
In the digitalization era, the world is increasingly becoming connected. Manufacturers across the globe are adopting digital industrialization or Industry 4.0 which is expected to bolster the growth of the human machine interface market. In addition, the rapid evolution of the industrial Internet of Things and the increasing adoption of smart automation solutions across the globe are also projected to boost the market's growth rate. HMI plays an important role in Industry 4.0 to improve industrial controls and helps to optimize the production output. Human machine interface is widely used in various industries including energy, mining, automobile, petrochemical, and oil & gas, military, electronics, entertainment, aviation, packaging, healthcare, and others.
In industries human machine interface systems are being extensively used for machine and process control, connecting machines, actuators, and sensors from the plant floor to the systems such as I/O and PLC applications. The integration of HMI solutions and connectivity technology with multiple industrial automation equipment is observed to significantly improve the quality, productivity, and mobility of plant or factory assets. Thus, the rising integration of Industry 4.0 is observed to offer opportunities for the market’s expansion.
Challenge:
Lack of skilled professionals
The lack of skilled professionals to operate the human machine interface system is projected to hamper the growth of the market and is likely to limit the expansion during the forecast period. In underdeveloped and developing economies, there is a probability of lack of skilled operators which may result in slow adoption of these technologies in performing every day's work. Moreover, the system of human machine interface requires regular maintenance with the continuous presence of skilled professionals. Thus, the element is observed to create a challenge for the market.
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Recent Developments:
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In May 2022, ABB, a global technology company announced the launch of ABB Ability NGX Hoist Control. ABB Ability NGX Hoist Control can offer more flexibility than ever and enable mining companies to achieve maximum performance as well as higher levels of protection. ABB Ability NGX Hoist Control can adapt to any hoist and replace older and third-party systems.
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In August 2023, Badger Technologies, a pioneer in retail automation, announced the rolling out of in-store robots at McCoy’s Building Supply in order to enhance operational efficiencies and deliver a better customer service experience. The company’s multipurpose autonomous robots are anticipated to empower McCoy’s stores to detect out-of-stock (OOS) and incorrectly priced products with more than 95 percent accuracy and also assist in reducing OOS products by up to 50 percent. McCoy’s also improved the accuracy of price tags by more than 97 percent.
Market Key Players:
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ABB Ltd.
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Advantech Co., Ltd.
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Panasonic Corporation
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American Industrial Systems, Inc.
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Atmel Corporation
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BARTEC Top Holding GmbH
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Beckhoff Automation
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Beijer Electronics, Inc
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Eaton Corporation
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Emerson Electric Corporation
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EXOR International
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General Electric Company
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Honeywell International Incorporation.
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Jabil
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Mitsubishi Electric
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Rockwell Automation
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Schneider Electric SE
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Siemens AG
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Yokogawa Electric Corporation
Market Segmentation:
By Offering
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Hardware
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Software
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Service
By Configuration
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Embedded HMI
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Standalone HMI
By End-User Industry
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Automotive
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Utility
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Food and Beverage
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Packaging
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Metal and Mining
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Aerospace & Defense
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Healthcare
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Pharmaceutical
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Oil and Gas
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Others
By Geography
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East and Africa
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