Human Machine Interface Market Is Expected to Exceed USD 5,579.0 Million by 2019: Transparency Market Research

Transparency Market Research Report Added "Human Machine Interface Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" to its database.

Albany, New York, UNITED STATES

Albany, New York, Sept. 23, 2014 (GLOBE NEWSWIRE) -- The new market report published by Transparency Market Research "Human Machine Interface Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" shows that the global human machine interface market is expected to reach a value of USD 5,579.3 million by 2019, at a compound annual growth rate (CAGR) of 10.4% from 2013 to 2019.

The Human Machine Interface, also more commonly known as HMI, is the technology that involves the working of the electronics needed to control and signal industrial automation devices and related equipment. HMI is an electronic interface between the user and a device. Everything ranging from a smartphone screen to an industrial computer, HMI is a part of all the manufacturing and processing control systems. HMI is mainly implemented to convey real time data acquisition. Using user-friendly interface system, the data is activated through visual representation and operators complete vital settings with the help of touch screens on a smartphone device.

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Indeed, the role of human machine interfaces in the industrial automation applications makes this new computing technology the most effective technology amongst other market compeers. HMI is changing the industry with its efficient operations and monitoring skills in production devices. The human machine interface market is experiencing a double digit growth globally as more and more companies are replacing the traditional legacy systems with this new technology.

HMI market is growing rapidly due to some of the other key factors such as high growth of software services suitable for each application, demand for enhanced efficiency, and increasing need for data security and reliable hardware. HMI is found in industry areas like automotive, metal, oil and gas, and mining industries to accomplish various production needs. Another major factor contributing to the growth of this market is the increasing demand for mobility to access data from multiple locations for real time monitoring of machinery.

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HMI is a significant part of such devices that handle the human-machine interaction carefully. Since, HMI is a part of a variety of applications such as mining, automotive, metal, and so on, in 2012, the automotive sector accounted for 15.9% of the global HMI market. As manufacturers across the world are expanding their operations in order to meet the rising demand for motor vehicles, the demand for HMI technologies in the automotive segment is augmented to see a strong rise in the market. The overall market is expected to dominate throughout the forecast period.

Furthermore, based on product segmentation, human machine interface is sectioned into interface software, display or touchscreens, industrial PC's, and other controllers. Of all, the Interface software segment is the largest sector and is projected to be the fastest growing product type in the industry. In 2012, it accounted for more than 41.0% of the market share of total HMI market.

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This report covers extensive analysis of the HMI industry with appropriate market size and estimates for the forecast period 2013 - 2019. The analysis provides regional and other technology trends propelling the growth of HMI market. The global human machine interface market is segmented into different end user applications, as well as into type of products. Segment analysis also shows major opportunities correlated with HMI technology in both, the regional and global markets.

Some of the key players in the global human machine interface market include Rockwell Automation, Pro-Face, Omron, Mitsubishi Electric, Siemens AG, General Electric Corporation and many others.

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Geographically, North America is the present leader in the overall HMI market, following to which is the Asia Pacific region which is expected to rapidly grow with a CAGR of 12.9%. The growth in this region is mainly due to the rise in automation industries and fast growing economy.

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