Lucintel Forecasts Human Machine Interface Market to Reach $8.5 Billion by 2028
Research Reports
Aug 24, 2023
According to the recent study the human machine interface market is projected to reach an estimated $8.5 billion by 2028 from $5.3 billion in 2023, at a CAGR of 9.9% from 2023 to 2028. Growth in this market is primarily driven by increasing use of industrial automation in manufacturing processes and growing use of modern technologies in industrial operation for smoother and faster production.
A more than 150 – page report is developed to understand trends, opportunities and forecast in human machine interface market by product (hardware, software, and services), configuration (embedded HMI and standalone HMI), end use industry (chemical & petrochemical, paper & pulp, water & wastewater treatment, energy & utilities, oil & gas, healthcare, food & beverages, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Software market is expected to remain the largest segment during the forecast period.”
Based on product, the human machine interface market is segmented into hardware, software, and services. Lucintel forecasts that the software market is expected to remain the largest segment due to the rising use of HMI for monitoring operations, such as control functions, alarms, and printing management reports.
“Within the human machine interface market, the automotive segment is expected to remain the largest product”
Based on product the automotive segment is expected to witness the highest growth over the forecast period due to the increasing use of HMIs in the automobile industry to let passengers and drivers interact with the vehicles they drive and make driving safer and distraction-free.
“North America will dominate the human machine interface market in near future”
North America will remain the largest region due to the on-going development of modern generation HMI solutions by leading market leaders in the region.
Major players of human machine interface market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Rockwell Automation, ABB, Siemens, Honeywell, and Advantech are among the major human machine interface providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
Related reports
Computer and Peripheral Connector Market
Multilayer Ceramic Capacitor Market
Artificial Intelligence Chip Market
Semiconductor Packaging Market
Quantum Sensors Market
Compound Semiconductor Market
Semiconductor Foundry Market
UAV Propulsion System Market
Door and Window Automation Market
Smart Crop Monitoring Market
Contact Information:
Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. 972.636.5056
Tags:
Extended Distribution, iCN Internal Distribution, Reportedtimes, Research Newswire, English