Dublin, May 12, 2023 (GLOBE NEWSWIRE) -- The "Human Machine Interface Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global human-machine interface market is expected to grow from $4.81 billion in 2022 to $5.28 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The human-machine interface market is expected to reach $7.58 billion in 2027 at a CAGR of 9.5%.
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. For instance, in 2022, according to a report published by Nividous., a US-based intelligent automation company, robotic process automation is being used by 43% of manufacturers, while another 43% plan to implement RPA projects. Therefore, the rising industrial automation in the manufacturing industry is driving the growth of the human-machine interface market.
Product Innovations are a key trend gaining popularity in the human-machine interface market. Major companies operating in the human-machine interface market are developing innovative product solutions to strengthen their position in the market. For instance, in September 2021, Renesas Electronics Corporation, a Japan-based company operating in human-machine interface, launched 32-Bit RX671 MCUs, providing high performance and power efficiency with HMI functions.
The product has unique features such as its high-functionality single-chip solution with touch sensing and speech recognition capabilities for the popular RX Family's contactless operation and also has a 120 MHz RXv3 CPU core, integrated flash memory that supports quick read access at a clock speed of 60 MHz, and high real-time performance with a CoreMark score of 707.
North America was the largest region in the human machine interface market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the human machine interface market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Measure the impact of high global inflation on market growth.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
Markets Covered:
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $5.28 billion |
| Forecasted Market Value (USD) by 2027 | $7.58 billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Human Machine Interface Market Characteristics
3. Human Machine Interface Market Trends And Strategies
4. Human Machine Interface Market - Macro Economic Scenario
5. Human Machine Interface Market Size And Growth
6. Human Machine Interface Market Segmentation
7. Human Machine Interface Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Rockwell Automation Inc.
- Siemens AG
- Schneider Electric SE
- ABB 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
For more information about this report visit https://www.researchandmarkets.com/r/7vxq4g
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