This Industrial Human-Machine Interface market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Industrial Human-Machine Interface market.
The ongoing trend towards the automation and continuous innovative improvements in industrial processes is generating a potential demand for the growth of industrial human-machine interface market. Furthermore, the evolution of industrial IoT and the surge in demand of smart automation solution in the industrial sector is enabling plant operators to opt for industrial human-machine interface solutions to monitor and perform critical control actions in an operational context as well as facilitating advanced visualization into supervisory and enterprise-level solutions.
Also, the growing investments in industrial robots and the concepts of digital offices and smart factory are creating potential growth opportunities for the growth of industrial human-machine interface market.
With the manufacturing, electronics & electrical, and automotive industries are adopting smart and advanced industrial automation systems, the industrial human-machine is becoming a necessary component.
In the present scenario, the industrial human-machine interface is gaining remarkable momentum and the boom in technologies such as cognitive computing, cloud computing, and the Internet of Things (IoT) are all expected to play a role in the development of the next level of human-machine interface engagement and therefore, creating potential growth opportunities for the growth of industrial human-machine interface market in the near future.
COVID-19 Impact Analysis
The industrial sector is expected to be one of the hardest hit sector by the COVID-19. Various process and discrete industries are likely to experience the supply chain disruptions due to industry’s partial reliance on Asia Pacific region.
Along with that, the U.S., one of the biggest market of industrial human-machine interface, has the largest number of COVID-19 cases in world, due to which the industrial output and performance is expected to be hampered in the near future. Furthermore, due to corona virus pandemic the business development efforts by manufacturing industries could be hampered and therefore, the demand for industrial human-machine interface may go down for next 2-3 years.
In 2019, the total market value of industrial human-machine interface is estimated to be nearly US$ 4 Bn globally, and the market has witnessed a CAGR of around 10% during 2015-2019. However, due to COVID-19 outbreak, the industrial sector is expected to go through toughest phase since the 2008 global financial crises.
The plunging production and shutdown of manufacturing facilities across the globe is expected to impact the industrial human-machine interface market in 2020 and 2021. According to estimates, the industrial human-machine interface market is expected to grow by 4%-5% in 2020. However, the long-term outlook remains positive for the growth of industrial human-machine interface market.
Also, the demand for new technologies such as AI, Robotics, AR/VR, IoT, cognitive security etc., would see surge in the adoption owing to the increasing new use-cases and new market opportunities.
Industrial Human-Machine Interface Market: Market Dynamics
Due to growing industrial IoT and industry 4.0 technological needs, smart factory automation is increasingly in use in all the industries and hence the demand for smart industrial human machine interface (HMI) is also increasing continuously.
Moreover, the demand for industrial human-machine interface is increasing for both process and discrete industries to enhance efficiency and to optimize regulating production and process targets. Furthermore, the increasing rate of adoption of industrial automation equipment in the manufacturing sector and growing need of efficiency and monitoring in the manufacturing plant are some of the major factors propelling the growth of industrial human-machine interface market.
Apart from this, the high installation cost and complex designing structure of industrial human-machine interface system are the key factors which are expected to hamper the growth of industrial human-machine interface market. Also, the increasing security risk associated with cloud industrial human-machine interface system is one of the key challenges for the growth of industrial human-machine interface market.
Industrial Human-Machine Interface Market: Competition Landscape
Most of the leading players in the industrial human-machine interface market are focusing on entering into partnerships and collaborations to offer cloud based solutions with advanced technologies such as machine learning, IoT, artificial intelligence. Some of the key players in the industrial human-machine interface market are -
- ABB Ltd.
- Advantech Co., Ltd.
- Schneider Electric
- Siemens AG
- Rockwell Automation, Inc.
- Kontron AG
- Honeywell International
- General Electric.
Industrial Human-Machine Interface Market: Regional overview
On the basis of regions, North America is expected to be one of the key market for industrial human-machine interface market owing to the early adoption of advanced technologies and high adoption of advanced manufacturing practices by the companies in the region.
The increasing demand for advanced software solutions in the industrial sector is expected to drive the industrial human-machine interface market in the Europe region. Furthermore, Asia Pacific is expected to create significant growth opportunities, owing to the rising adoption of digital technologies and continuous development of industrial IoT sector in the countries of this region.
Furthermore, the growing demand for industrial automation solutions and increasing penetration of advanced technologies such as artificial intelligence and machine learning in the industrial sector of countries of Middle East & Africa and Latin American regions is expected to drive the industrial human-machine interface market in the region.
The Industrial Human-Machine Interface market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Industrial Human-Machine Interface Market Segments
- Industrial Human-Machine Interface Market Dynamics
- Industrial Human-Machine Interface Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in Industrial Human-Machine Interface Market
- Technology Landscape
- Value Chain of the Industrial Human-Machine Interface Market
- Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of MEA)
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Industrial Human-Machine Interface Market: Segmentation
The industrial human-machine interface market has been segmented on the basis of component and vertical.
The Industrial Human-Machine Interface market is segmented on the basis of component:
- Professional Services
- Managed Services
The Industrial Human-Machine Interface market is segmented on the basis of vertical:
- Energy & Utilities
- Oil & Gas
- Aerospace & Defense
- Metals and Mining
- Retail & Consumer Goods
- Transportation & Logistics
- Detailed overview of parent Industrial Human-Machine Interface market
- Changing Industrial Human-Machine Interface market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Industrial Human-Machine InterfaceMarket
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Industrial Human-Machine Interface Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Industrial Human-Machine Interface Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Industrial Human-Machine Interface Market report?
In addition to up-to-date market figures and customized of the Industrial Human-Machine Interface Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.