Human Machine Interface Market Size, Share, Demand And Growth Analysis, Forecast 2017 To 2022 – by Credence Research
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According to a new market report
published by Credence Research Inc “Human Machine Interface (HMI) Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 -
2022,” the human machine interface market is predicted to reach US$ 7.10
Bn by 2022, with the Rising industrial automation across the world. High market
competition forcing industrial manufacturers to invest in advanced solutions
which improves productivity and reduces operating costs. This is increasing the
demand for advanced human machine interface solutions which offers realistic
view of their plants. Improving economic conditions and financial position of
manufacturing industries is expected to influence the demand for advanced human
machine interface (HMI) solutions across the world. In order to match rising
mobility needs in manufacturing industries HMI solution providers are focusing
on developing applications which supports remote monitoring and controlling.
All the above factors are expected to spur the demand for HMI solutions through
the forecast period 2015 – 2022.
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Interface software and solutions
accounted for the largest revenue share in 2014 and is expected to remain the
largest segment by product type throughout the forecast period. Rising demand
for PC based open source human machine interface (HMI) solutions is expected to
influence the demand for interface software and solutions across the world.
Display and touchscreen technology also expected to see a significant growth
through the forecast period with rising demand for mobile devices such as
tablets, laptops, smartphones and others.
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Automotive industry represents the
largest end use segment for human machine interface solutions and accounted for
the 15.8% of revenue share in 2014. Automotive manufacturers are investing
significant amount in advanced solutions to improve their productivity which
represents a positive outlook for human machine interface (HMI) solutions
providers. The oil and gas industry represents the fastest growing end-use
segment for human machine interface (HMI) solutions. Human machine interface
(HMI) solutions improves safety and security at oil and gas plants which is the
major influencing the factor for these solutions.
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North America represents the largest
regional market in the global human machine interface market. Rising number of
industrial automation projects is the primary factor for the dominance of North
America in global HMI market. Asia Pacific is expected to be the fastest
growing regional market in the global HMI market. Increasing industrialization
in India, China, Taiwan, Singapore, Australia and other countries is increasing
the adoption of human machine interface (HMI) technologies in the region. The
human machine interface market in North America and Europe are comparatively
matured markets and expected to grow at a slower pace compared to Asia Pacific.
The global HMI market is expected to see a significant growth through the
forecast period with rising awareness about the benefits of advanced HMI
solutions such as reduced operating cost, high efficiency and reduced
maintenance cost.
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