According to a new market research report, "Human Machine Interface (HMI) Market Global Forecast & Analysis (2012-2017), By Product Type (Display Terminals, Industrial PC, Interface Software, Other Controls), Application & Geography," published byMarketsandMarkets, the total market is expected to reach $4050.00 million by 2017, at a CAGR of 10.13% from 2012 to 2017.
Due to growing technological needs, factory automation is increasingly in use in all the industries and hence the demand or need for HMI is also increasing. HMI market for discrete applications is growing at a higher rate as compared to process applications owing to growth of automotive, metal & mining, packaging and aviation industries. The other key factors driving the HMI market include demand for enhanced efficiency, high growth of software services suitable for each applications and increasing need for data security and reliable hardware.
The overall HMI market is estimated to be worth $2.50 billion in 2012 and expected to reach $4.05 billion in 2017 at a CAGR of 10.13% from 2012 to 2017. Currently Americas commands the largest share in the global HMI market followed by Europe and APAC. It is observed that APAC is growing at a higher CAGR and is expected to have the largest market share i.e. 28% of the total HMI market by 2017. The higher CAGR of APAC is primarily due to its fast growing economy and increased significance for automation industries. Human Machine Interface (HMI), as the name describes, is an interface between operator and a machine. The level of interaction with the machines has increased exponentially.
The human machine interface market report segregates the overall market for into products, applications, and geography. The products are segmented into display terminals, industrial PCs, and interface software. The report illustrates revenue shares of different industrial applications of HMI- discrete: automotive, metal & mining, packaging, and aerospace & defense; and process: food & beverage, healthcare, and oil & gas industries. The geography covers Americas, Europe, APAC, and ROW. In this report, the market size is forecasted using both bottoms-up and top-down approaches. The report presents the drivers, restraints and opportunities that shape the present and future market of HMI.
Global HMI market worth $4,050 million
December 10, 2012