Human Machine Interface Global Market Report 2024

The human machine interface market size has grown strongly in recent years. It will grow from $5.28 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth observed during the historical period can be attributed to various factors, including the rise of smart manufacturing practices, an increased focus on workplace safety measures, initiatives promoting energy efficiency, expansion within the automotive industry, and a growing demand for enhanced user experiences in human-machine interfaces.

The human machine interface market size is expected to see rapid growth in the next few years. It will grow to $8.5 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth in the forecast period can be attributed to several factors, including a shift towards flexible manufacturing processes, an increased focus on healthcare automation, the growth of smart cities, the expansion of e-commerce and warehouse automation, and a continued emphasis on user-centric design in human-machine interfaces. Key trends expected in the forecast period include the incorporation of gesture control and voice recognition technologies, integration with artificial intelligence (AI) for enhanced functionality, remote monitoring and control capabilities, the implementation of multi-modal interfaces to provide diverse interaction options, and a growing focus on customization and personalization of human-machine interfaces. These trends reflect the ongoing evolution of technology and user preferences in the human-machine interface landscape.

The anticipated growth of the human-machine interface (HMI) market is driven by the increasing adoption of industrial automation in the manufacturing sector. Industrial automation involves the control of processes and machinery using technologies such as control systems, computers, robotics, and information technology. HMI plays a crucial role in automation systems by facilitating real-time data collection and providing a visual representation of control systems. The rising trend of automation, as indicated by a report from Nividous in 2022, where 43% of manufacturers are already utilizing robotic process automation (RPA) and another 43% plan to implement RPA projects, is a significant factor propelling the growth of the human-machine interface market.

The proliferation of cyber threats is identified as a key driver for the growth of the human-machine interfaces market. Cyber threats encompass potential risks posed by malicious activities to compromise data and disrupt computer systems, networks, and digital information. Human-machine interfaces, being connected to networks, represent potential vulnerabilities that cyber attackers may exploit to gain unauthorized access to control systems. The increasing number of cybercrime reports, such as the 13% increase to 76,000 reports in 2022 according to the Australian Cyber Security Centre, highlights the need for robust cybersecurity measures in the human-machine interface market.

A prominent trend in the human-machine interface market is the focus on product innovations by major companies. These companies are developing innovative solutions to enhance their market position. For example, Renesas Electronics Corporation, a Japanese company in the human-machine interface sector, introduced the 32-Bit RX671 MCUs with high performance and power efficiency, incorporating advanced features such as touch sensing and speech recognition capabilities.

Major players in the human-machine interfaces market are adopting new technological products, such as FactoryTalk Optix, to maintain their market standing. FactoryTalk Optix is a cloud-enabled HMI platform that allows users to design, test, and deploy applications directly from a web browser. The platform, launched by Rockwell Automation, is designed to enhance process efficiency with modern technologies, innovative designs, and scalable deployment options, offering openness and interoperability through machine-to-machine and machine-to-cloud communications.

In April 2023, Beijer Electronics, a Sweden-based HMI terminal manufacturer, acquired Smart HMI GmbH. This acquisition aims to expand digitalization and visualization capabilities, complementing and integrating well with Beijer Electronics' existing offerings for its broad customer base. Smart HMI GmbH, based in Germany, specializes in providing human-machine interface solutions.

Major companies operating in the human machine interface market report are Rockwell Automation Inc, Siemens AG, Schneider Electric SE, Asea Brown Boveri Ltd., Honeywell International Inc., Advantech Co. Ltd., Emerson Electric Co., General Electric Company, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Eaton, Robert Bosch GmbH, Kontron AG, Texas Instruments Incorporated, Omron Corporation, IPCS Automation, Livewire, MPTA education, CRTL-Labs, Neuralink, MindX, Beijer Electronics AB, Pro-face America, Phoenix Contact GmbH & Co. KG, Beckhoff Automation GmbH & Co. KG, Weintek Labs Inc., Lanner Electronics Inc., B&R Industrial Automation GmbH, RDS Displays Ltd., Digital Electronics Corporation.

North America was the largest region in the human machine interface market in 2023. Asia-Pacific is expected to be the fastest-growing region in the human-machine interface market during the forecast period. The regions covered in the human machine interface market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the human machine interface market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main products in the human-machine interface market include hardware, software, and services. The hardware component consists of the physical parts of the interface, encompassing both internal components and externally connected devices. The configuration of HMI can be either embedded, integrated within a larger system, or standalone, operating independently. Various end-users benefit from human-machine interfaces, including industries such as chemicals and petrochemicals, food and beverages, oil and gas, as well as paper, packaging, and printing.

The human-machine interface market research report is one of a series of new reports that provides human-machine interface market statistics, including global market size, regional shares, competitors with a human-machine interface market share, detailed human-machine interface market segments, market trends and opportunities, and any further data you may need to thrive in the human-machine interface industry. This human-machine interface market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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