This global research report includes a detailed segmentation of the HMI market by type (hardware and software and services), by end-user (packaging, automotive, food and beverage, pharmaceuticals, utilities, metals manufacturing, and others), and by geography (Americas, APAC, and EMEA). The key vendors analyzed in this report are GE, Rockwell Automation, Schneider Electric, and Siemens.
Technavio’s market research analysts estimate the global human machine interface (HMI) market to grow at a CAGR of around 6% between 2016 and 2020. The increase in investments in technology to achieve greater efficiency and better access to information and control systems is a major contributing factor in the growth of the HMI market during the forecast period. Currently, the Americas dominate the global HMI market and is expected to account for a market value of around $ 2 billion by 2020. The growth of the market in this region is fueled by the increase in labor costs.
The new market research report from Technavio provides a breakdown and analysis of the HMI segments by end-user.
“There is an increasing demand for smart factories across the globe as automation plays a crucial role in the sustenance of the business in the competitive market. Automation can enable more precise communication and coordination in factories, and ensure flexible underlying processes. Manufacturing industries are now making use of sensors, robots, wireless systems, enterprise software, and automation solutions to automate end-to-end processes,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
Currently, the packaging industry occupies the major share of the global HMI market and is expected to grow further at a CAGR of around 6% by 2020. HMI solutions in the packaging industry help in monitoring the continuous flow of information of processes such as filling, sealing, labeling, bag packing, cartoning, wrapping, strapping, and palletizing. Manufacturers are expected to automate various packaging processes in the wake of growing global population and the market requirement for brand enhancement. Such developments predict an increasing demand for various automation solutions, including HMI technologies, during the forecast period.
The leading vendors in the global HMI market include GE, Rockwell Automation, Schneider Electric, and Siemens. The global HMI market is facing increased competition as many vendors provide same product lines without much of differentiation. The leading vendors will look to consolidate their position in this market by acquiring new entrants to overcome competition.
A more detailed analysis is available on the Technavio report, Global Human Interface (HMI) Market 2016-2020.
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