Human Machine Interface(HMI) Market share, Forecast to 2024 & Industry Analysis: Global Market Insights Inc.
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Increasing demand for ease in machine communications along with growing demand for high processing power and huge storage space to encourage the human machine interface market adoption. Further, technological advancements in the development of innovative display panels further contributes to the growth. For instance, Oil and Natural Gas Corporation (ONGC) installed ABB’s enterprise wide supervisory control and data acquisition (SCADA) for efficient real-time monitoring of all its production and drilling facilities spread across India and in Arabian Sea.
Features such as alarm warnings, safe messaging along with improved internal communications is expected to provide advantage to a facility in terms of operations, security and production. Further, HMI is anticipated to reduce the operation costs by substituting various push buttons, indictor lights, selectors along with lowering the requirement of additional display panels and cables.
In addition to these features, high resolution of HMI system provides a clear-sighted view of the manufacturing operations, enabling the operator to control the facility centrally. Moreover, with the implementation of the system, facility managers have the ease of testing devices using flexible HMI without a single equipment, thus lowering the startup time and improving overall productivity.
Factors such as lack of standardization, high cost associated with the installation along with the safety and security issues is anticipated to curb the human machine interface market growth. Further, lack of skilled professionals and awareness among management level individuals may present a challenge to the industry participants.
Increasing demand for high resolution displays for analyzing the industrial process efficiently along with the technological advancements in the computing processors is expected to offer growth opportunities. Further, fast industrialization in the emerging economies such as China & India to spur the HMI market growth.
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Growing demand of HMI terminals in the manufacturing sector for improvisation of the plant management by automatization along with building better user-machine communication services will offer significant growth opportunities. Further, clubbing of Wi-Fi & Bluetooth technology with these devices has helped in improving the mobility, contributing to human machine interface market size.
Hardware can be classified into basic, advanced PC-based and advanced panel-based. Basic HMI provides high-power visualization and glaring display quality along with touch-key functionality for operations. It provides features such as backup of data via USB stick for fast device exchange. Additionally, in order to build smooth communication with web servers and drives, basic HMIs integrates the device with a web browser.
Advanced PC-based hardware is recommended for industries where production places large demands on quantity and nature of data that needs to be processed. It provides suitable choices for adequate storage space, data connectivity and processing capability. Advanced panel-based hardware is classified into comfort panels and mobile panels. Comfort panels provide machine-level high-performance visualization.
Software is classified into cloud-based and on-premise. Cloud-based HMI market offers better ease of access, functionality and security in a significantly lower price. Data stored in the cloud can be accessed by any internet connected devices such as PCs, tablets, smartphones with proper login credentials. On-premise HMIs are preferred by some organizations having fear of losing control of data in cloud storage.
The presence of large number of solution providers and increasing high-end production activities is driving the U.S. human machine interface market. In addition to the increasing demand for integrated HMI solutions is anticipated to catapult the HMI market growth in the region. Moreover, early technology adoption in north America contributes further to the industry progress. The rapid industrialization will drive the India and China HMI market. In addition to easy availability of raw materials, inexpensive labor force along with the rising number of automation projects is expected to spur the demand.
Companies in the HMI market include Siemens AG, ABB Ltd, Eaton Corp, Schneider Electric, Honeywell Inc., General Electric, Emerson Electric, Advantech Co, Beijer Electronics, Yokogawa Electric, etc. Mergers and acquisitions is the focus of many key players as a part of business strategy. For instance, in 2016, Rockwell Automation acquired Magnemotion, in order to make expansion in the motion control business.
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