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LONDON, GREATER LONDON, UNITED KINGDOM, September 27, 2024 /EINPresswire.com/ -- The human machine interface market has experienced robust growth in recent years, expanding from $5.28 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to rise of smart manufacturing, focus on workplace safety, energy efficiency initiatives, expansion of automotive industry, demand for enhanced user experience.
What Is The Estimated Market Size Of The Global Human Machine Interface Market And Its Annual Growth Rate?
The human machine interface market is projected to continue its strong growth, reaching $8.5 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to shift towards flexible manufacturing, focus on healthcare automation, growth of smart cities, e-commerce and warehouse automation, focus on user-centric design.
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Growth Driver Of The Human Machine Interface Market
Rising industrial automation in the manufacturing industry is expected to propel the growth of the human-machine interface (HMI) market going forward. Industrial automation refers to the management of various processes and machinery through the use of control systems, computers, robotics, and information technology. HMI is important in an automation system since it enables real-time data collection and sees how the control systems are represented visually, hence rising automation is expected to boost the human-machine interface market.
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Who Are The Leading Competitors In The Human Machine Interface Market Share?
Key players in the market include 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.
What Are The Dominant Trends In Human Machine Interface Market Growth?
Major companies operating in the human-machine interfaces market are adopting new technological products, such as FactoryTalk Optix, to sustain their position in the market. FactoryTalk Optix is a cloud-enabled human-machine interface (HMI) platform that allows users to design, test, and deploy applications directly from a web browser anywhere, anytime.
How Is The Global Human Machine Interface Market Segmented?
1) By Product: Hardware, Software, Services
2) By Configuration: Embedded HMI, Standalone HMI
3) By End-User: Chemicals And Petrochemicals, Food And Beverages, Oil And Gas, Paper, Packaging, Printing
Geographical Insights: North America Leading The Human Machine Interface Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Human Machine Interface Market Definition
Human-machine interface refers to hardware or software that enables an operator to communicate with a controller. These are used to centralize and digitize data for a viewer to optimize an industrial process.
Human Machine Interface Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global human machine interface market report covering trends, opportunities, strategies, and more
The Human Machine Interface Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on human machine interface market size, human machine interface market drivers and trends, human machine interface market major players and human machine interface market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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