Albany, NY -- (ReleaseWire) -- 06/25/2014 -- The global Human Machine Interface Market is expected to reach a value of USD 5,579.3 million by 2019, at a CAGR of 10.4% from 2013 to 2019. Due to rising demand for industrial automation and interface software solutions to improve operational efficiency rapid development is expected in the industry in the following decade. HMI market is growing due to growth of oil and gas, automotive, metal and mining industries and increasing production needs in these industries. Another major factor which is expected to drive the HMI market is, rising demand for mobility to access data from multiple locations for real time monitoring of machinery.
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Based on products, human machine interface is categorized into display or touchscreens, interface software, industrial PC's and other controllers. Interface software segment is the largest and projected to be the fastest growing product type and accounted for more than 41.0% of the market share of total HMI market in 2012. Rising demand for data monitoring and controlling application in the automation industries is estimated to drive the growth of HMI software and services segment in future.
Applications of HMI include automotive, metals and mining, oil and gas among others. In 2012, the automotive sector accounted for 15.9% of the global HMI market and is expected to dominate throughout the forecast period. The demand for HMI technologies in automotive segment is expected to see a significant rise as automotive manufacturers are expanding their operations to meet the global demand for motor vehicle.
North America currently commands the major market share in the overall HMI market. Asia Pacific region is expected to be the fastest growing segment with a CAGR of 12.9%. The growth in APAC region is mainly due to increase in automation industries and fast growing economy.
The global human machine interface industry comprises large number of players and the market is highly competitive. The established players together accounted for more than 50% of market share in 2012. Some major players in the global human machine interface market include Siemens AG, Rockwell Automation, Mitsubishi Electric, Pro-Face, Omron, General Electric Corporation and several others.
The human machine interface market is segmented as below:
By product type
Metals and Mining
Food and Beverage
Aerospace and Defense
Oil & Gas
Rest of the World
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