Human Machine Interface Market Growing at a CAGR of 9.37% During 2018 – 2023 | Top Key Players - ABB, HONEYWELL INTERNATIONAL, ROCKWELL AUTOMATION, SCHNEIDER ELECTRIC SE, EMERSON ELECTRIC, EATON CORPORATION, DASSAULT SYSTEMS

The global human machine interface market was valued at USD 3.30 billion in 2017, and is expected to reach a value of USD 5.73 billion by 2023 at a CAGR of 9.37%, during the forecast period (2018 - 2023). The scope of the market covers all stand alone and built-in HMI Interface systems.
The growing need for the monitoring of production and responding to the changing demands, through enhanced diagnostics, coupled with the need for greater efficiency and reduced downtime, have buoyed the growth of the human machine interface market.

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Oil and Gas to Hold the Largest Share of the Market Among the Various End-user Verticals
With increasing pressure to improve operational performance, meet environmental specifications, and overcome rising energy costs, oil & gas operations must efficiently and securely monitor and control entire processes across local and remote locations. Also, ensuring consistently and proper functionality of the industry’s equipment and system effectiveness are paramount. Thus, the oil & gas industry presents various challenges in terms of workforce allocation, efficiency and cost to oil & gas end-users. The difficulty to access remote locations, both physically and virtually, complicate the challenges immensely, especially in hazardous locations, which makes the task even more tough. Thus, the need for remote automation, real-time control, monitoring, and remote diagnosis of all equipment and processes creates a huge demand for HMI solutions. Further, adhering to standards, such as 49 CFR Part 192 - Transportation of Natural and Other Gas by Pipeline and other workforce safety standards have been instrumental in driving the adoption of human machine interface market in the oil & gas industry.

Key Developments
• November 2017 - Rockwell Automation announced its investment in The Hive, a Silicon Valley innovation fund and co-creation studio, to gain access to an ecosystem of innovators and technology start-ups with a focus on applications of artificial intelligence (AI) to industrial automation.
• July 2017 - ABB completed the acquisition of B&R, the largest independent provider focusing on the product and software-based, open-architecture solutions for machine and factory automation worldwide.
• June 2017 - GE launched New Solutions Purpose Built For Industrial Assets. GE Digital launched an integrated solution to deliver the industrial service model of the future that combines the power of ServiceMax which is company's cloud-based field service management solution, with its intelligent Asset Performance Management portfolio to develop service operations, reduce cost and eliminate unplanned downtime.

The major players include –
ABB LTD., HONEYWELL INTERNATIONAL INC. , ROCKWELL AUTOMATION INC., MITSUBISHI CORPORATION, SCHNEIDER ELECTRIC SE, EMERSON ELECTRIC CO., EATON CORPORATION, DASSAULT SYSTEMS, YOKOGAWA ELECTRIC CORPORATION, SIEMENS CORPORATION, ROBERT BOSCH GMBH, TEXAS INSTRUMENTS INC., KONTRON AG, ADVANTECH CO., LTD. JOHNSON CONTROLS INC., amongst others.

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Focus towards Cost-Cutting and Business Process Improvement
The developments in wireless technology have opened-up new avenues for this market with improved quality, and increase in production, which is further expected to fuel the demand for automation in the country. With technologies like DCS, PLC, SCADA, HMI, and MES, automation equipment has become more sophisticated, performing more complex actions at a low operating cost. Also, coupled with the advances in sensor technology, these technologies have started the era of smart manufacturing, resulting in business process improvement. Developing countries, like Brazil, India, and China are focusing on manufacturing to increase their industrial output to support and drive their economy forward. For example, China aims to move up the manufacturing value chain, however, labor rates in Chinese cities have increased dramatically in the past few years, meaning that supposed low-cost off shoring no longer makes sense without significant investment in automation. Also, being resourceful, demographically rich, and an increasing rate of the population entering the middle and upper classes is boosting the consumption at consumer's end, and enabling industries to implement automation to maintain or enhance their production output. Thus, augmenting the growth of the human machine interface market.

Brazil to Drive the Market in Latin America
Brazil's industries account for one-third of its GDP and include consumer durables, steel and petrochemicals, aircraft, and computers. Most large industries in the country are in the southern and southeastern regions. Brazil has experienced rapid economic growth in the immediate aftermath of the 2008 global recession. Thus, Brazil hopes to leverage the gains of robotics, both as a manufacturer and user. According to International Federation of Robotics, Brazilian robotics imports have increased at an annual rate of 5.3% between (2012-2016). As the rate is expected to rise in the near future, increasing deployment of industrial automation, and control systems is bound to be observed. Brazil is boosting its industrial production, distribution infrastructure, and power capacity, and enhancing its transmission to meet the needs of its growing economy. Similarly, it is expected that increasing nationwide investments in automotive (by global players), oil & gas, utilities (both government supported) along with the strict regulations of INMETRO in Brazil for workforce safety in hazardous location, are expected to aid the growth of the human machine interface market.

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