Human Machine Interface (HMI) Market Growth and Development Forecast 2027 | Key Players: Schneider Electric SE, Rockwell, Siemens, ABB Ltd, Honeywell International Inc., Mitsubishi Electric Corporation

The global human-machine interface (HMI) market is expected to reach USD 7.22 billion by 2027. The increased adoption of industrial automation in the manufacturing sector, the advent of IoT, rising demand for smart automation solutions, and increased demand for efficient and effective monitoring of manufacturing plants will fuel the growth of the global HMI market.

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Furthermore, the introduction of HTML5, rising demand to integrate logical software with technical devices will enhance quality and productivity, thereby accelerating the growth in the market. Alarm alerts, safe messaging, and improved internal communications are expected to give a facility a competitive advantage in terms of security, operations, and output. Newer HMI is intended to minimize operating costs by replacing old push buttons, indicator lights, and selectors, as well as reducing the need for additional display panels and wires, while also improving machine monitoring.

COVID-19 Outbreak:

The COVID-19 pandemic has slumped the production and sales of the automotive industry, resulting in lesser technological upgrades that involve HMI that will take place during the initial years of the projected period 2021-2027.

Market Segmentation:

Based on the configuration, the global human-machine interface (HMI) market is bifurcated into embedded HMI and Standalone HMI. The embedded HMI solutions segment contributes to the largest share over the forecast period. Embedded HMIs are used in conjunction with sophisticated hardware and software platforms to maximize device capabilities.

Additionally, a connected embedded platform is a component of an intelligent system that is linked to a network that allows easy communication between machines and gives the operator quick access.

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Geographical Analysis:

Asia-Pacific is anticipated to have a high ACGR during the forecast period 2021-2027 owing to rapid technological development in HMI solutions and increased R&D activities by the industry players that will create opportunities for growth in the region. Asia-Pacific is a manufacturing hub as various industry players are shifting their manufacturing base owing to the skilled and cheap labor in the region.

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Recent News:

In March 2021, GE Digital announced updates to its industry-leading CIMPLICITY and Tracker tools that give operators essential decision support and help them to be more productive. CIMPLICITY HMI/SCADA is a proven high-performance automation platform that uses client-server visualization to precisely monitor and control activities. Tracker, a component of GE Digital's Proficy Manufacturing Execution Systems (MES) solution, automates routing and sequencing to reduce time to market, warranty and recall risk, and support Lean operations and building things right the first time.

The prominent players in the human-machine interface (HMI) industry include Schneider Electric SE, Rockwell, Siemens, ABB Ltd, Honeywell International Inc., Mitsubishi Electric Corporation, Advantech Co, Ltd, Emerson Electric Co., General Electric, and Yokogawa.

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