Enjoy complimentary customisation on priority with our Enterprise License!
The human machine interface market share is expected to increase by USD 2.64 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.16%.
This human machine interface market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers human machine interface market segmentations by end-user (automotive, healthcare, food and beverage, oil and gas, and others), type (hardware and software and service), and geography (North America, Europe, APAC, MEA, and South America). The human machine interface market report also offers information on several market vendors, including Advantech Co. Ltd., Eaton Corp. Plc, Emerson Electric Co., General Electric Co., Mitsubishi Electric Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Texas Instruments Inc. among others.
Download the Free Report Sample to Unlock the Human Machine Interface Market Size for the Forecast Period and Other Important Statistics
The growing adoption of industrial automation is notably driving the human machine interface market growth, although factors such as growing threats from cyberattacks may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the human machine interface industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Human Machine Interface Market Driver
One of the key factors driving the human machine interface market growth is the growing adoption of industrial automation. Industrial automation is continuously growing, as it supports enterprises in industries such as manufacturing to carry out processes with minimal human intervention. For instance, the global industrial automation market is expected to grow by around $107 billion from 2019 to 2025. Industrial automation involves the application of different control systems, such as human machine interfaces, which enable operating machines to work on their own tasks that require endurance, speed, and precision. Several industrial enterprises are adopting industrial automation systems to reduce the labor burden and operating costs. Human machine interfaces in industrial automation enable machine operators to perform tasks with the help of concise automation equipment using an interface instead of levers and switches. The seamless integration of human machine interfaces, such as actuators, switch controls, and indicators, are critical to the successful operation of machines. Hence, with the growing adoption of industrial automation, the demand for human machine interfaces is also expected to increase during the forecast period.
Key Human Machine Interface Market Trend
Emergence of high-performance human machine interfaces is the major trend influencing the human machine interface market growth. High-performance human machine interfaces consist of displays and designs, which help viewers make decisions in the shortest amount of time after interacting with this solution. The human machine interface has evolved from mechanical walls to high-resolution screens with bright color possibilities and extreme sharpness. Users and operators are increasingly opting for high-performance human machine interfaces, as this helps in ensuring an effective and fast interaction. The design of this solution helps in drawing attention to the critical or most necessary indicators of the machine, which helps viewers to respond to problems to make effective and better-informed decisions. This is encouraging vendors to invest in the development of high-performance human machine interfaces in order to gain a competitive edge over their rivals. Thus, the emergence of high-performance human machine interfaces will support the growth of the market in focus during the forecast period.
Key Human Machine Interface Market Challenge
Growing threats from cyberattacks is one of the key challenges hindering the human machine interface market growth. Cyberattacks by hackers and cybercriminals are growing at an alarming rate. Cyberattacks can severely disrupt and damage enterprise reputation and goodwill. The number of cyberattacks, including system attacks or network attacks by hackers, is rising globally. Hackers and cybercriminals find it easy to attack human machine interfaces as some of the human machine interfaces are accessible via unauthenticated virtual network computing (VNC) servers. Thus, a potential hacker can interact with these exposed human machine interfaces using a VNC viewer. Many of these exposed human machine interfaces are used to perform critical functionalities such as reset, start, stop, parameter changes, and alarm. Although many vendors are offering human machine interfaces with enhanced security by reducing process steps, hackers and cybercriminals are finding ways around to hack the systems and get system access. It will have a negative impact on the growth of the global human machine interface market during the forecast period.
This human machine interface market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global human machine interface market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the human machine interface market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the human machine interface market encompasses successful business strategies deployed by the key vendors. The human machine interface market is fragmented and the vendors are deploying growth strategies such as extending product portfolios with increasing investments in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The human machine interface market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the human machine interface market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
For more insights on the market share of various regions Request for a FREE sample now!
35% of the market's growth will originate from North America during the forecast period. US is the key market for human machine interface in North America. Market growth in this region will be slower than the growth of the market in other regions.
In North America, the human machine interface market is expected to be driven by the growth in industries such as healthcare, automotive, oil and gas, and food and beverages. The healthcare industry is expected to grow in this region, owing to an increase in the number of people with chronic diseases in countries such as the US and Canada. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 negatively impacted various end-user industries such as manufacturing, consumer goods, oil and gas, chemicals, and mining, which use human machine interfaces. However, owing to the pandemic, there has been positive growth in the healthcare industry, which is compensating for the loss incurred by the vendors in the regional human machine interface market to some extent. Conditions are improving due to an increase in the number of vaccinated individuals and the lifting of lockdown restrictions in phases. Hence, the requirement of human machine interface solutions from end-user industries, such as automotive, aerospace, industrial manufacturing, and oil and gas, are anticipated to increase by the end of 2021, which will help the market in focus witness significant growth during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The human machine interface market share growth by the automotive will be significant during the forecast period. In the automotive industry, technological advances are increasing, and consumer preferences are also changing. Therefore, the demand for automobiles is expected to remain stable during the forecast period. The demand for electric and autonomous vehicles is rising continuously and driving the growth of the automotive industry.
This report provides an accurate prediction of the contribution of all the segments to the growth of the human machine interface market size and actionable market insights on post COVID-19 impact on each segment.
|
Human Machine Interface Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8.16% |
|
Market growth 2021-2025 |
$ 2.64 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
5.45 |
|
Regional analysis |
North America, Europe, APAC, MEA, South America, North America, Europe, APAC, MEA, and South America |
|
Performing market contribution |
North America at 35% |
|
Key consumer countries |
US, China, Japan, Germany, and Italy |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
Advantech Co. Ltd., Eaton Corp. Plc, Emerson Electric Co., General Electric Co., Mitsubishi Electric Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Texas Instruments Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Type
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.