Human Machine Interface Market by Offering (Basic, Advanced Panel-based, & Advanced PC-based HMI), Software (On-premises, Cloud-based), Screen Size (1"-9", 9"-17", More than 17"), Configuration (Standalone, Embedded), Industry - Global Forecast to 2028
By Offering, Software, Screen Size, Configuration and Industry
Regions covered
North America, Europe, APAC, RoW
The HMI market is estimated to be worth USD 5.2 billion in 2023 and is projected to reach USD 7.7 billion by 2028 at a CAGR of 8.2% during the forecast period. The HMI market is experiencing robust growth, primarily driven by surging adoption of industry 4.0 in manufacturing industries and government initiatives that are promoting adoption of operational technologies. Industry 4.0 emphasizes smart factories and interconnected systems that rely on advanced HMI solutions to facilitate real-time monitoring, data analysis, and efficient control of machinery and production processes. Additionally, government initiatives aimed at promoting the adoption of operational technologies in manufacturing sectors have further accelerated the HMI market's growth. These initiatives often include incentives and funding to encourage the implementation of advanced HMI systems, aligning with broader efforts to enhance productivity, product quality, and competitiveness in the global market.
"Discrete industries to hold the largest share of HMI market in 2022."
Discrete industries such as automobile, semiconductor & electronics, and aerospace require precise control, rapid changeovers, and advanced customization, making them particularly reliant on adaptable and user-friendly HMI solutions. The fast-paced nature of discrete manufacturing necessitates cutting-edge HMI technologies that offer real-time data visualization, intuitive interfaces, and seamless integration with other automation systems. These features enhance operational efficiency, maintain product quality, and ensure that these industries can meet the dynamic consumer demands for innovative and high-quality products. As a result, the unique requirements and the competitive landscape of discrete manufacturing sectors make them the largest and essential consumers of HMI solutions, ultimately driving their prominence in the market.
"Oil & Gas industry to hold the largest share of HMI market for process industries in 2022."
The oil and gas industry involves complex, high-risk processes, such as drilling, refining, and distribution, where precise monitoring and control are imperative for safety, efficiency, and compliance. HMI systems are essential in facilitating real-time data visualization, control, and decision-making in this challenging environment. Moreover, the sector is increasingly integrating automation and digitalization to optimize operations and reduce costs, driving the demand for advanced HMI solutions. With the adoption of IoT, data analytics, and remote monitoring, HMI technologies are crucial for achieving operational excellence in the oil and gas industry, making it a prominent player in the HMI market.
"North America to hold the largest market share of HMI market in 2022."
North America is a major hub for technological innovations, as well as an early adopter of new technologies. These sectors rely heavily on advanced HMI solutions to improve operational efficiency and maintain a competitive edge. Moreover, North America has a mature and well-established infrastructure that readily adopts emerging technologies, including HMI systems, which are integral to Industry 4.0 initiatives and smart manufacturing. Additionally, the presence of leading HMI solution providers and a strong emphasis on research and development further drives the market's growth. The region has witnessed a marginal shift toward automated production and continuous R&D investments by manufacturers to drive innovation in their manufacturing processes. Moreover, the industrial, automotive, power, oil & gas, pharmaceutical, and healthcare sectors are integrating HMI with data analytics to improve performance and reduce overall operational costs, which is likely to further lead to the growth of the HMI market in North America.
The break-up of the profiles of primary participants:
By Company Type - Tier 1 - 65%, Tier 2 - 20%, and Tier 3 - 15%
By Designation - C-level Executives - 57%, Directors - 27%, and Others - 16%
By Region - North America - 24%, Europe - 24%, Asia Pacific - 46%, and Rest of the World - 6%
Major players in the HMI market are Rockwell Automation (US), Siemens (Germany), Schneider Electric (France), ABB (Switzerland), and Honeywell International Inc. (US).
Research Coverage
The report segments the HMI market by offering, configuration, end-user industry, and region. The report also comprehensively reviews drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report:
The report will help the market leaders/new entrants with information on the closest approximate revenues for the overall HMI market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Analysis of key drivers (Rising adoption of industrial automation in process and discrete industries, Growing focus on real-time data analysis and predictive maintenance, Government initiatives to promote adoption of operational technologies, and Surging adoption of industry 4.0 in manufacturing industries is driving the market), restraints (High cost associated with installation and maintenance, Need for regular maintenance and frequent software updates, and Shortage of skilled and experienced workforce are hindering the growth of the market), opportunities (Surging demand for safety compliance automation systems in manufacturing industries, Increasing adoption of IIoT and cloud computing across industries, and Rapid growth and increasing investments in renewable energy sector), and challenges (Absence of standardization in industrial communication protocols and interfaces and Susceptibility of cloud-HMI systems to cyberattacks are resulting as a risk for HMI systems) influencing the growth of the HMI market.
Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the HMI market.
Market Development: Comprehensive information about lucrative markets - the report analyses the HMI market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the HMI market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Rockwell Automation (US), Siemens (Germany), Schneider Electric (France), ABB (Switzerland), and Honeywell International Inc. (US).
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
FIGURE 1 HUMAN MACHINE INTERFACE MARKET SEGMENTATION
1.4.2 REGIONAL SCOPE
1.4.3 YEARS CONSIDERED
1.4.4 CURRENCY CONSIDERED
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.6.1 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 HUMAN MACHINE INTERFACE MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primaries
2.1.2.2 Primary interviews with experts
2.1.2.3 Key data from primary sources
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.1.3.1 Key industry insights
2.2 MARKET SIZE ESTIMATION METHODOLOGY
FIGURE 3 HUMAN MACHINE INTERFACE MARKET: REVENUE GENERATED THROUGH SALES OF HMI SOLUTIONS
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
FIGURE 4 HUMAN MACHINE INTERFACE MARKET: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using top-down analysis (supply side)
FIGURE 5 HUMAN MACHINE INTERFACE MARKET: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 6 HUMAN MACHINE INTERFACE MARKET: DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
FIGURE 7 HUMAN MACHINE INTERFACE MARKET: RESEARCH ASSUMPTIONS
2.5 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON HUMAN MACHINE INTERFACE MARKET
2.6 RESEARCH LIMITATIONS
2.7 RISK ASSESSMENT
FIGURE 8 HUMAN MACHINE INTERFACE MARKET: RISK ASSESSMENT
3 EXECUTIVE SUMMARY
FIGURE 9 HUMAN MACHINE INTERFACE MARKET SIZE, 2019-2028 (USD MILLION)
FIGURE 10 SOFTWARE SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2022
FIGURE 11 EMBEDDED SEGMENT TO EXHIBIT HIGHER CAGR IN HUMAN MACHINE INTERFACE MARKET FROM 2023 TO 2028
FIGURE 12 OIL & GAS SEGMENT ACCOUNTED FOR LARGEST SHARE OF HUMAN MACHINE INTERFACE MARKET IN 2022
FIGURE 13 AUTOMOBILE SEGMENT TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 14 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN HUMAN MACHINE INTERFACE MARKET DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HUMAN MACHINE INTERFACE MARKET
FIGURE 15 RISING ADOPTION OF INDUSTRIAL AUTOMATION SYSTEMS IN MANUFACTURING FACILITIES TO CREATE LUCRATIVE OPPORTUNITIES FOR PLAYERS IN HUMAN MACHINE INTERFACE MARKET
4.2 HUMAN MACHINE INTERFACE MARKET, BY END-USER INDUSTRY
FIGURE 16 PROCESS INDUSTRIES SEGMENT TO GROW AT HIGHER CAGR IN HUMAN MACHINE INTERFACE MARKET FROM 2023 TO 2028
4.3 HUMAN MACHINE INTERFACE MARKET, BY PROCESS INDUSTRY
FIGURE 17 OIL & GAS SEGMENT TO DOMINATE HUMAN MACHINE INTERFACE MARKET DURING FORECAST PERIOD
4.4 HUMAN MACHINE INTERFACE MARKET, BY DISCRETE INDUSTRY
FIGURE 18 AUTOMOBILE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023
4.5 HUMAN MACHINE INTERFACE MARKET, BY COUNTRY
FIGURE 19 CHINA TO REGISTER HIGHEST CAGR IN HUMAN MACHINE INTERFACE MARKET FROM 2023 TO 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 20 HUMAN MACHINE INTERFACE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing adoption of automation technologies to enhance productivity and efficiency in manufacturing
5.2.1.2 Rising focus on real-time data visualization and predictive maintenance of industrial machinery
5.2.1.3 Escalating investments in IIoT and 3D printing technologies to transform manufacturing chains
5.2.1.4 Surging demand for smart machines and rapid industrial revolution
FIGURE 21 HUMAN MACHINE INTERFACE MARKET: DRIVERS AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 High costs associated with installation and maintenance of HMI systems
5.2.2.2 Need for periodic maintenance and frequent HMI software updates
5.2.2.3 Shortage of skilled and experienced workforce
FIGURE 22 HUMAN MACHINE INTERFACE MARKET: RESTRAINTS AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Heightened focus on workplace safety and regulatory compliance of automated systems
5.2.3.2 Increased adoption of IoT and cloud computing technologies
5.2.3.3 Need for advanced solutions to monitor ever-increasing renewable energy assets
FIGURE 23 HUMAN MACHINE INTERFACE MARKET: OPPORTUNITIES AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Lack of standardization of industrial communication protocols
5.2.4.2 Susceptibility of cloud-based HMI systems to cyberattacks
FIGURE 24 HUMAN MACHINE INTERFACE MARKET: CHALLENGES AND THEIR IMPACT
TABLE 165 YOKOGAWA ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 66 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 166 YOKOGAWA ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
16.2 OTHER PLAYERS
16.2.1 AMERICAN INDUSTRIAL SYSTEMS INC.
16.2.2 BARTEC TOP HOLDING GMBH
16.2.3 BECKHOFF AUTOMATION
16.2.4 EAO AG
16.2.5 INDUCTIVE AUTOMATION, LLC
16.2.6 MAKERSAN
16.2.7 MAPLE SYSTEMS INC.
16.2.8 MICON AUTOMATION SYSTEMS PVT. LTD.
16.2.9 NOVAKON CO., LTD.
16.2.10 PCI PRIVATE LIMITED
16.2.11 RED LION
16.2.12 RITTAL GMBH & CO. KG
16.2.13 SENECA SRL
16.2.14 WECON
16.2.15 WEINTEK LABS., INC.
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
17 ADJACENT MARKET
17.1 INDUSTRIAL PC MARKET
17.2 INTRODUCTION
FIGURE 67 PANEL IPC SEGMENT TO DOMINATE INDUSTRIAL PC MARKET FROM 2023 TO 2028
TABLE 167 INDUSTRIAL PC MARKET, BY TYPE, 2019-2022 (USD MILLION)
TABLE 168 INDUSTRIAL PC MARKET, BY TYPE, 2023-2028 (USD MILLION)
17.3 PANEL IPC
17.3.1 GROWING ADOPTION OF AUTOMATED MANUFACTURING TECHNOLOGIES TO DRIVE SEGMENTAL GROWTH
TABLE 169 PANEL IPC: INDUSTRIAL PC MARKET, BY REGION, 2019-2022 (USD MILLION)
TABLE 170 PANEL IPC: INDUSTRIAL PC MARKET, BY REGION, 2023-2028 (USD MILLION)
17.4 RACK MOUNT IPC
17.4.1 RISING NEED FOR COMPACT DESIGNS IN SPACE-CONSTRAINED APPLICATIONS TO BOOST MARKET GROWTH
TABLE 171 RACK MOUNT IPC: INDUSTRIAL PC MARKET, BY REGION, 2019-2022 (USD MILLION)
TABLE 172 RACK MOUNT IPC: INDUSTRIAL PC MARKET, BY REGION, 2023-2028 (USD MILLION)
17.5 DIN RAIL IPC
17.5.1 INCREASING USE OF RUGGED AND SCALABLE DIN RAIL IPCS FOR MAINTENANCE-FREE AND CONTINUOUS OPERATIONS TO FUEL SEGMENTAL GROWTH
TABLE 173 DIN RAIL IPC: INDUSTRIAL PC MARKET, BY REGION, 2019-2022 (USD MILLION)
TABLE 174 DIN RAIL IPC: INDUSTRIAL PC MARKET, BY REGION, 2023-2028 (USD MILLION)
17.6 EMBEDDED IPC
17.6.1 ESCALATING USAGE OF EMBEDDED IPCS IN HIGH-BANDWIDTH PROJECTS TO FOSTER MARKET GROWTH
TABLE 175 EMBEDDED IPC: INDUSTRIAL PC MARKET, BY REGION, 2019-2022 (USD MILLION)
TABLE 176 EMBEDDED IPC: INDUSTRIAL PC MARKET, BY REGION, 2023-2028 (USD MILLION)