Human Machine Interface Market (HMI) by Advanced PC-Based HMI, Advanced Panel-Based HMI
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The surging adoption of industrial automation in the manufacturing process, evolution of industrial internet of things (IIoT) and growing demand for smart automation solutions, rising need for efficiency and monitoring in manufacturing plants, and growing adoption of Industry 4.0 are some of the major driving factors of the HMI market. MarketsandMarkets expects the HMI market to grow from USD 4.3 billion in 2020 to USD 5.6 billion by 2025, at a CAGR of 5.2%.
The HMI market for process industry is expected to grow at the highest CAGR from 2020 to 2025. In the era of smart manufacturing, process industries are adopting HMI solutions to ensure a significant increase in process uptime while reducing operational and maintenance costs and minimizing the risks associated with the failure of assets. The adoption of HMI solutions is considerably high in power generation and oil & gas industries as these solutions help reduce operational costs without increasing any risk pertaining to unplanned downtime or employee and environmental safety.
The HMI market for embedded HMI is expected to hold the majority of the market share in 2025. Embedded HMIs offer an integrated environment which is much simpler and user-friendly, further enhancing efficiency. Hence, the embedded HMI market is expected to witness significant growth during the forecast period. The increasing need for integrated systems and ease in machine-to-machine communication are some of the prominent factors expected to encourage the adoption of embedded HMI solutions during the forecast period. This is primarily beneficial for machine builders willing to offer comprehensive packages to customers without the additional setup and integration of a separate system. Embedded HMIs allow for the creation of software for a wide range of equipment with different features.
The HMI market in APAC is expected to grow at the highest CAGR from 2020 to 2025. The adoption of HMI solutions in APAC is high due to the burgeoning growth of the manufacturing sector in the region. APAC has transformed into a major manufacturing hub with various industries shifting their manufacturing bases to APAC to capitalize on the low labor costs and the availability of skilled labor in the region. The process and discrete manufacturing industries present in the region are progressively adopting automated technologies, which is one of the major factors driving the growth of the HMI market in APAC. China, Japan, and India are the key country-level HMI markets in the region.
Mr. Aashish Mehra
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MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.
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