Market research

Human Machine Interface (HMI) Market Trends, Forecast up to 2024

According to a research report by TMR, the global human machine interface (HMI) market is likely to rise at an impressive CAGR of 12.5% during the forecast period that is from 2016 to 2024. Rising at this CAGR, the opportunity in the overall human interface market is projected to reach at a valuation of US$11 bn by the end of 2024. The analysts noted the valuation of the market in 2015 at US$3.9 bn. 

On the basis is region, the global human machine interface market is segmented into NORTH America, Asia Pacific, Europe, the Middle East and Africa. Among all the regions, Asia Pacific is expected to hold maximum shares in the   human machine interface market  during the forecast period. This is mainly due to the sudden rise in the manufacturing activities of several emerging economies in the region. Countries such as China, Japan, and India are the prine consumers of the human machine interface technology.

The global human machine interface market is likely to rise at significant pace during the forecast period. This is mainly due to the  increasing demand from business leaders to make manufacturing processes automated. This is expected as a prominent factor for the growth of the global human machine interface market. Apart from this, rise in the adoption and application of human machine interface across different industries sector is another strong reason projected to benefit the overall market in the coming few years.

Request PDF Sample –

Moreover, several benefits offered by human machine interface technologies to the manufacturers such as  accurate customizations and prolong service is increasing the demand for human machine interface market. 

Along with this, rising penetration of the HMI programming software in integrate multi-vendor environment management is expected to fuel human machine interface market growth over the coming years. In addition to this, these technology helps in  remote operation due to this it is  widly used in  oil and gas and water treatment units. This is mainly because they keep process running and   operating  in harsh climates. This is expected to  boost the human machine interface market in the coming few years. 


Related Articles

Back to top button