Human Machine Interface Market Is Booming Worldwide | ABB Ltd, Honeywell International Inc., Rockwell Automation Inc., Mitsubishi Electric Corporation

The Human Machine Interface Market report provides the overall structure and business outlook of the global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and regional growth of the leading competitors operating in the market on a global and local scale. This study provides information about the growth and revenue during the historic and forecasted period of 2015 to 2026. The structured analysis contains graphical as well as a diagrammatic representation of the global Human Machine Interface Market with its specific geographical regions.

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The global human machine interface market was valued at USD 3.71 billion in 2020, and it is expected to reach a value of USD 7.24 billion by 2026, at a CAGR of 10.3%, over the forecast period (2021-2026).

Features, such as alarm warnings, safe messaging, and improved internal communications, are expected to provide an advantage to a facility regarding security, operations, and production. Newer HMI is expected to reduce operation costs by substituting traditional push buttons, indicator lights, and selectors and lowering the requirement of additional display panels and cables and further enhancing monitoring of the machines.

Top leading Manufacturers Profiled in Human Machine Interface Market Report are: ABB Ltd, Honeywell International Inc., Rockwell Automation Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Emerson Electric Co., General Electric Co., Texas Instruments Inc., Yokogawa Electric Corporation, Siemens AG, Robert Bosch GmbH, Eaton Corporation

Latest Update and Developments

- February 2020 - ABB Power Grids has announced the introduction of MicroSCADA X, the industry-acclaimed power and automation control solution, to customers in India. The new version provides a unified experience, giving utilities and businesses one vision of their power networks. MicroSCADA X features a next-generation human-machine interface (HMI), enabling an intuitive and adaptive experience that provides clear and simplified insights into customers power infrastructure.

- February 2020 - Rockwell Automation, Inc. has signed an agreement to acquire Italy-based ASEM, S.p.A., which engages in the development of digital automation technologies. ASEM provides a wide range of Human-Machine Interface (HMI) hardware and software, remote access capabilities, and secure Industrial IoT gateway solutions.

Regional Analysis for Human Machine Interface Market:

For a comprehensive understanding of market dynamics, the global Human Machine Interface market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

Asia-Pacific is Expected to Witness Fastest Growth

- Asia-Pacific is expected to grow at a higher growth rate, compared to other regions, because of the increase in disposable income and an increase in population. In this region, China and Japan are considered to be the manufacturing hubs of the pieces of equipment required for the human interface machine. Also, in India, manufacturing has emerged as one of the high-growth sectors. 'Make in India' initiative places India on the global map as a manufacturing hub and gives significant recognition to the Indian economy. According to the Indian Brand Equity Foundation, India's manufacturing sector is expected to reach USD 1 trillion by 2025, and India is expected to rank one among the top three growth economies and manufacturing countries of the world by the year 2020.

- In January 2020, Zhejiang University announced the success of China's first brain-computer interface (BCI) implant. A man surnamed Zhang has wholly paralyzed in a car accident two years ago, but the human-machine interface technology has helped him do what he couldn't before. The brain-machine interface provides a new communication and control pathway between the brain and other devices, which includes artificial limbs. Thus, brain signals can control the external devices by computer interpretation if the spinal cord and neuronal pathways are damaged, but the cerebral cortex is still functional. The implantation was jointly completed by Zhejiang University and the Second Affiliated Hospital Zhejiang University School of Medicine.

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What is the Impact of Covid-19 Outbreak on the Human Machine Interface?

- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global Human Machine Interface.
- Human Machine Interface Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.

Frequently Asked Questions about the Human Machine Interface market:

- What are the recent developments and government policies?
- What are the top trends in the Human Machine Interface market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Human Machine Interface market?
- Which region would offer high growth for vendors in the market?

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The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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