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.
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