Human Machine Interface Market 2020: Covid-19 Impact and Global Analysis covering Top Players - Mitsubishi Electric Corporation, Rockwell Automation, Schneider Electric, Siemens AG

Human machine interface is a graphical software application that provides the operators or users with the information regarding the operational process, enabling interaction between humans and machines so that the machines receive instructions and execute the tasks mentioned by the operators. In other words, an HMI is a central control system that helps in communicating operator inputs and receives data and feedback from various PLC logic controllers in realtime. It offers insights into what is happening within the control system. This tracks valuable output information for various processes, including cycle counts, times, and recipes. HMI improves user performance and ensures data safety. Although initial high costs associated with the deployment of these products pose a challenge to its production, HMIs are not limited to only manufacturing companies.

Impact of Covid-19 on Human Machine Interface Market-
The human machine interface market is expected to witness a significant decline in sales owing to discontinuance of industrial activities and subsequently lowered demand for integration services and sales of new human machine interfaces products. Moreover, the limited operation of various components manufacturers and equipment suppliers across different region is also expected to hinder the manufacturing of HMI panels and other components critical for the interface. Thus, the pandemic is likely to restrain the growth of the market for the next few months, at least.

The human machine interface market was valued at US$ 4.18 Bn in 2019 and is projected to reach US$ 8.77 Bn by 2027; it is expected to grow at a CAGR of 9.9% from 2020 to 2027.

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Factors such as the rising adoption of automated industrial solutions and machine learning technologies continue to drive the growth of the embedded human machine interface market.The embedded interface aids in the seamless management of sophisticated industrial machinery. Further, the growing focus of several sectors on improving their manufacturing efficiencies through continuous monitoring and improved control of industrial assets also continues to drive the growth of the human machine interface market across the developing economies. However, the high cost of installation and lack of awareness restrict the market growth across a few African countries.

Globally, the market players operating in the human-machine interface market offer a broad range of products, accessories, and software. As a result, based on the offering, the global human machine interface market has been segmented into hardware, software, and services. Moreover, the market for hardware is further segmented into panel-based, PC-based, and others, whereas the market based on software is sub segmented into on-premises and cloud. By configuration, the global human machine interface market is bifurcated into stand-alone and embedded. The human-machine interface has a profound scope of application across numerous industry verticals; however, for the study scope primarily includes energy & power, general manufacturing, healthcare and pharmaceuticals, and automotive, among otherend-user industries. Based on geography, the human machine interface market has been segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Russia, and Rest of Europe), AsiaPacific (China, Japan, India, Australia, South Korea, and Rest of AsiaPacific), and South America (Brazil, Argentina, and Rest of South America).

Strategic Insights:
The global human machine interface market players adopt different strategies such as product development and expansion to broaden their footprint worldwide by meeting the growing demand. They adopt this strategy to mainly grow their business in North America and Europe. The players adopt the strategy of expansion and investment to enlarge customer base across the world, which also permits them to maintain their brand name globally. A few of the recent developments are listed below:

2020: Rockwell unveiled its plan to acquire Ohio-based Kaly by signing an agreement in the US. Kalypso is a software delivery and consulting firm specialized in the digital transformation of the companies in the industrial sector with its full suite of consulting, enterprise technology, digital innovation, and business process management services. Thus, this acquisition would help Rockwell Automation to strengthen its product and service portfolio of enterprise software consulting and information architecture.

2020: Rockwell Automation Inc., signed an agreement to acquire ASEM, S.p.A. Based in Italy, ASEM is involved in offering a full range of industrial PCs, HMI hardware and software, secure Industrial IoT (IIoT) gateway solutions, and remote access capabilities.

2018: Rockwell Automation updated its FactoryTalk View HMI software. The new features in this software version 10.0 comprise greater access to information, new mobile device support, and better cross-software integration to improve productivity.

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Key findings of the study:

o India's manufacturing sector has emerged as one of the fast-growing industries. Make in India program positions India as a manufacturing hub on the world map, and gives Indian economy global recognition. India's manufacturing sector has the potential to hit USD 1 trillion by 2025, according to the Indian Brand Equity Foundation, and India is expected to hold the position among the top three growth economies and manufacturing destinations of the world by the end of the year 2020. With such economic growth, India's human-machine interface market is expected to expand at a higher rate, adding to this, development in the automotive sector is also likely to contribute to market growth.

o Innovations in HMI software also allow remote users to make adjustments to the system functions on-the-fly (for variable production output). During the forecast period, the HMI software offering market is expected to rise at a higher pace. HMI software systems provide versatility and reliability and also boost production process performance, which is expected to increase HMI software during the forecast period.

o The U.S human machine interface market is expected to grow at a formidable rate over the forecast period. HMI systems are widely implemented for plant automation purposes as they support feed inputs along with parameter control and monitoring connected to plant control systems. The country's economy is greatly affected by rapid technical developments, including open platform architecture (OPA), which results in improved migration processes. Also, the steady adoption of innovative manufacturing practices is some other factors projected to fuel the development of the United States market for human machine interfaces by 2027.

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