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    Human Machine Interface Devices Market Report

    Human Machine Interface Devices Market Report
    Report code - SR1253 Delivery - 2 Weeks
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    Human Machine Interface Devices Market Trends, Dynamics & Market Insights
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    Market Insights

    The Human Machine Interface Devices Market is estimated to grow from USD 4.3 billion in 2020 to USD 5.8 billion by 2026 at a healthy CAGR of 5.1% during the forecast period.

    Figure: Human Machine Interface Devices Market Size, 2020-2026 (USD Billion)

    Human-Machine-Interface-Devices-Market-Forecast

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    What is a Human-machine interface device?

    A human-machine interface (HMI) is a component in an electronic device that allows the user to communicate and interact with the system or machine effectively. It is also referred to as a computer-human interface, human-computer interface, or man-machine interface. HMI consists of various hardware and software devices which translate user inputs into signals for the machine to generate results.

    Key Players

    Key players operating in the human-machine interface devices market are-

    • ABB Ltd (Switzerland)
    • Honeywell International Inc. (US)
    • Rockwell Automation Inc. (US)
    • Mitsubishi Electric Corporation (Japan)
    • Schneider Electric SE (France)
    • Emerson Electric Co. (US)
    • General Electric Co. (US)
    • Texas Instruments Inc. (US)
    • Yokogawa Electric Corporation (Japan)
    • Siemens AG (Germany).

    Market Dynamics

    The increasing adoption of industrial automation equipment in the manufacturing sector is a key driving factor. Integration of analytics software with products is further expected to enhance quality and productivity thereby propelling demand. Moreover, significant growth in factory automation, technological requirements, and smartphones, computer, and tablet users results in a strong demand for human-machine interfaces, which offers ample opportunities to the industry players. However, the high cost associated with HMI installation is likely to hamper the industry growth.

    Segment's Analysis

    End-Use Trends

    Based on end-use, the human-machine interface devices market is classified into automotive, healthcare, food & beverages, oil & gas, packaging, aerospace & defense, and others. The automotive segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. As the automotive industry witnesses rapid changes in manufacturing technology, the upgrade has become an unavoidable aspect of this sector. The automotive industry is anticipated to contribute significantly to the growth of the HMI market as these solutions are widely deployed in manufacturing units for almost all machines and other supporting functions, thereby bolstering the segment growth. 

    Regional Trends

    By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to rapid technological advancements in HMI solutions and extensive R&D activities by the regional industry participants are likely to offer opportunities for the HMI market in the region. With various industries shifting their manufacturing bases in the region to capitalize on the easy availability of skilled and relatively cheap labor, APAC has transformed into a major manufacturing hub, which further proliferates the regional market growth.

    COVID-19 Impact on Human Machine Interface Devices Market

    The COVID-19 outbreak has moderately affected the human-machine interface devices industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic affected the communication infrastructure and automotive, oil & gas, consumer electronic sectors, thus affecting every stakeholder in the supply chain.

    Critical Questions Answered in the Report

    • What are the key trends in the human-machine interface devices market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the human-machine interface devices market?
    • What are the key strategies adopted by the major vendors to lead in the human-machine interface devices market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the human-machine interface devices market hopes to have the greatest opportunity to convert-

    • Human machine interface devices vendors
    • Human machine interface devices retailers
    • Automotive companies
    • Healthcare companies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The human machine interface devices market is expected to witness an impressive growth of 5.1% CAGR in the foreseeable future.

    ABB Ltd (Switzerland), Honeywell International Inc. (US), Rockwell Automation Inc. (US), Mitsubishi Electric Corporation (Japan), Schneider Electric SE (France), Emerson Electric Co. (US), General Electric Co. (US), Texas Instruments Inc. (US), Yokogawa Electric Corporation (Japan), and Siemens AG (Germany) are among the key players in the human machine interface devices market.

    The automotive segment is expected to register a healthy CAGR in the human machine interface devices market in the coming years.

    Asia-pacific is expected to grow at a substantial CAGR in the human machine interface devices market during the forecast period.

    Human machine interface devices vendors, Human machine interface devices retailers, Automotive companies, Healthcare companies are the target audience in the human machine interface devices market.

    The human machine interface devices market size is expected to reach USD 5.8 billion in the coming years.