PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1055026
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1055026
According to Stratistics MRC, the Global Touch Based Human Machine Interface (HMI) Market is accounted for $0.48 billion in 2021 and is expected to reach $2.15 billion by 2028 growing at a CAGR of 24.0% during the forecast period. Touch based human interface (HMI) is the simple, easy and natural interaction with the human machines. It is among the significant mechanization situated gadgets sent across significant applications in modern robotization, auto, oil and gas areas. These gadgets empower higher dependability and quality results and are progressively supplanting the manual transfer of the modern gear. Touch based human machine point of interaction are being recognized by every one of the significant enterprises as these gadgets are equipped for offering a constant update of the cycles through Ethernet or remote network. Touchscreen HMIs are satisfying the association's usefulness, wellbeing, adaptation and ecological similarity objectives.
The human-machine interface of the future will get even more interactive. The growing popularity of wearable devices in the consumer market which are exhibiting a growth of over 16% will also be reflected in the manufacturing sector. This is also due to the government regulations driving industrial automation such as Italy's National Industry 4.0 Plan, Germany's I40 strategy and Japan's Connected Industries Plan which mention arable devices among the technologies subject to hyper-depreciation. For example, operators will likely wear bracelets that alert them of alarms with a specific code so that they can intervene in a timely manner. The increased adoption of these solutions will drive the demand for HMI market.
The missing growth factor for the industry 4.0 market is security. According to the 2018 IBM-X Force Threat Intelligence Index, manufacturing is the second-largest targeted industry for attacks. Due to less security, industry 4.0 technologies are allowing hackers to attack the manufacturer's data and also infecting new systems to detention and vend confidential information. Thus, the utilization of industrial PCs and other data utilization devices are witnessing increased scrutiny which will hinder HMI market.
Touch-based human-machine interface are one of the emerging technology and is all set to showcase significant penetration across all the leading end user industry verticals. The technological advancements attained in the field of automation and the evolution of touch screen technology has discovered a common platform to deliver new range of control function modules across all industrial applications both in industrial and commercial sector. The touch based human machine is an instinctive programming interface that allows operators to make efficient decisions and establish fast communication network with the help of Internet of Things (IoT) concept. In industry applications, touch based applications are basically used as operator panels, control and monitoring devices and industrial PCs. Touch screen HMIs have turned out to be an efficient solution for automation for a wide range of applications in manufacturing, digital signage, automotive, aerospace, retail and so on. The product has gained more adaptation in the commercial sector apart from its broad range of applications in industrial automation.
The price of the advanced software for data visualization and interpretation could pose threat to the adaptation of the touch screen HMI devices. However, the functions performed by these HMIs and the ability of these devices to cut short time and to bring down the operating expenses will certainly overpower the constraints and challenges for the touch screen HMI market.
The automotive segment is estimated to have a lucrative growth. The automotive industry incorporates touch based technology for various applications such as navigation systems, temperature control systems as well as for the multimedia systems. Automation is rapidly perforating all sorts of industrial applications and the past few years have witnessed considerable rate of adaptation of automation devices and its accessories. Touch Based Human Machine Interface (HMI) are among the major automation oriented devices deployed across major applications in industrial automation, automotive, oil & gas sectors. These devices enable higher reliability and quality outputs and are gradually replacing the manual relay of the industrial equipment. The rate of deployment of these touchscreen human machine interface in all the major industries have increased in the past two years attributing to introduction of new markets in the automobile, home automation and building automation. The manufacturers are constantly investing substantial amount in developing automation solutions to ease out the complexity of the processes
The surface acoustic wave (SAW) segment is anticipated to witness the fastest CAGR growth during the forecast period due to the increased adoption of SAW Touch based HMI because of the accelerating demand of touch screen panels in both passenger vehicles and commercial vehicles for driver assistance applications.
Asia Pacific is projected to hold the largest market share during the forecast period due to the presence of a large number of developing markets in the region. China, India and South-East Asian nations are conjectured to make immense interests in the robotization area to prepare their assembling and modern plants with mechanized answers for ad lib the creation cycle and accomplish set targets. Japan being one of the mechanically progressed countries is a critical market for contact screen HMIs and is as of now utilizing these gadgets across a wide range of industry verticals at a higher scale. Australia and New Zealand are the developed business sectors yet the touch based HMIs shipments are projected to flood as the nations are moving towards more computerized and progressed military gear.
North America is projected to have the highest CAGR over the forecast period owing to the presence of large number of solution providers and increasing high-end production activities across the region. In addition to the increasing demand for integrated HMI solutions is anticipated to catapult the HMI market growth in the region. Moreover, early technology adoption in the North America contributes further to the industry progress.
Some of the key players profiled in the Touch Based Human Machine Interface (HMI) Market include: ABB Ltd, Advantech Corporation, Beijer Electronics, Delta, Emerson Electric Co., Fuji Electronics Co. Ltd, General Electric, Kinco Automation, Mitsubishi Electric Corporation, Omron Corporation, Pro-Face, Schneider Electric SE, and Siemens AG.
In September 2017, Mitsubishi has released a new widescreen human machine interface. The company says demand for operational efficiencies such as greater visualization into a factory's automation solutions portfolio has prompted it to launch the new GT25 Wide HMI. The GT25 Wide HMI is an interface that monitors and controls machine components with a graphical touchscreen that connects to equipment such as programmable logic controllers, variable frequency drives and servos.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.