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Human Machine Interface Market Size 2020 by Top Key Players: ABB Ltd., General Electric Company, Honeywell International, Rockwell Automation, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation

05-07-2020 07:25 PM CET | Business, Economy, Finances, Banking & Insurance

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Human Machine Interface Market

Human Machine Interface Market

The growing population and subsequently rising demand of human machine interface product from several industrial verticals have gained significant traction in the past few years, especially across the developing economies such as Asia and Africa. Subsequently, various prominent manufacturers have embraced swift technological advancements, especially the Internet of Things (IoT) and machine learning-based technologies that assist in improving the performance of substantial industrial assets. The global human machine interface market was valued US$ 4.18 Bn in 2019 and is expected to grow at a CAGR of 9.9% from 2020 to 2027 to reach US$ 8.77 Bn by 2027.

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As a result, there has been a surge in the adoption as well as integration of several technology-driven solutions in industrial setups, which monitor, control, optimize, and manage different industrial components, such as machinery, equipment, system, and communication systems. This has generated the demand for a robust, as well as efficient, solution that facilitates the interaction between human and industrial machines; this resulted in the development of the interface between human and machine.

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 other end-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), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), and South America (Brazil, Argentina, and Rest of South America).

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 overall global human machine interface market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the human machine interface market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the human machine interface market.

Table of Contents:
1. Introduction
1.1 Study Scope
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Human Machine Interface Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East & Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Human Machine Interface Market - Key Market Dynamics
6. Human Machine Interface - Global Market Analysis
7. Human Machine Interface Market Analysis - By Offering
8. Human Machine Interface Market Analysis - By Configuration
9. Human Machine Interface Market Analysis - By End-user Industry
10. Human Machine Interface Market - Geographic Analysis
11. Impact of COVID-19 Pandemic on Global Drain Cleaning Equipment Market
12. Industry Landscape
13. Human Machine Interface Market Company Profiles

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