The Human Machine Interface (HMI) is a component of certain devices that are capable of handling human machine interactions. The interface is comprises of software and hardware that allow user inputs to be translated as signals for machines, and thus, providing the desired results to the users. HMI system solutions include various technologies and protocols such as processors, sensors, alarm switches, and communications that monitor and control the manufacturing process without any human involvement.
Global human interface machine market is estimated to be valued at US$ 10,800 Mn by2030.
Global Human Machine Interface Market: Drivers
Positive outlook of consumer electronics and automotive sectors
Rising average disposable income worldwide is expected to boost demand for automated technology that is already growing in automotive and consumer electronics sectors. As a response to the technological improvement and innovation, the HMI sector will experience market stability by the introduction of user-friendly interface devices. For instance, in January 2021, the three companies, Continental - automotive parts’ manufacturer, HERE – a software company, and Leia Incorporated - provider of Lightfield hardware and content services had jointly collaborated. The collaboration was done in order to launch a natural 3D automotive navigation in display solution for vehicle cockpits. Similarly, Continental also launched an effective human-machine interaction (HMI) solution s for autonomous vehicles. Moreover, in December 2021, KYOCERA, a supplier of solar power generating systems, mobile phones, printers, copiers, and others, had launched its HAPTIVITY human machine interference technology, a hybrid innovation that combines their patented HAPTIVITY touch technology with IMSETM, a patented 3D injection-molded structural electronics technology from TactoTek Oy.
Global Human Machine Interface Market: Opportunities
Research and development activities among market players
Key market players are focusing on research and development activities in order to expand product portfolio, and to gain a competitive edge in the market. For instance, in July 2020, Omron Automation, an automation technology company, had launched a software version of its NA5 human-machine interface that run on the Omron industrial PC series, and provide their end users more control over their machines.
Global Human Machine Interface Market: Restraints
Complex graphics design of HMI software
Designing human machine interface software graphics is a complex process. It requires skilled personnel and robust infrastructure. Moreover, designing graphics for HMI software requires significant capital investment, and the software needs to be upgraded on a timely basis. Therefore, these factors are expected to hamper the global human machine interface market growth over the forecast period.
Market Trends
North America Trends
Among regions, North America is expected to witness significant growth in the global human machine interface market during the forecast period. This is owing to rising focus of key players on R&D activities of HMI systems across the region. Furthermore, rising adoption of HMI systems in the food processing sector is expected to drive growth of the regional market growth over the forecast period.
Europe Trends
Europe is expected to register a robust growth rate in the global human machine interface market during the forecast period. This is owing to rising automation in food and beverage sector in the U.K. Moreover, growing adoption of advanced technologies in automobile industry is expected to boost the regional market growth over the forecast period.
Global Human Machine Interface Market - Impact of Coronavirus (Covid-19) Pandemic:
Due to Covid-19 pandemic, many industries witnessed significant shift in their business. There has been significant negative impact on global human machine interface market, as Chinese automotive industries rapidly closed their business to reduce the spread of COVID-19 pandemic. Furthermore, this trend continued in Europe and North America region, and factories in this regions were temporary closed due COVID-19. In pre-crisis time, automotive industry witnessed significant drop in their sale. For instance, according to the Coherent Market Insights analysis, in 2022, China registered drops in automotive sales that negatively impacted the human machine interface market in Asia Pacific.
Global Human Machine Interface Market: Competitive Landscape
Key players operating in the global human machine interface market are ABB Ltd., General Electric Company, Advantech Co., Ltd., Emerson Electric Corporation, Atmel Corporation, Eaton Corporation, American Industrial Systems, Inc., BARTEC Top Holding GmbH, and Beijer Electronics, Inc.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/human-machine-interface-market-4330
Key Takeaways:
Global market was valued at US$ 4,900 Mn in 2022 and is forecast to reach a value of US$ 10,800 Mn by 2030 exhibiting CAGR of 10.38% between 2023 and 2030.
Global Human Machine Interface Market: Recent Developments
In August 2022, according to the Journal of Applied Physics Reviews by AIP Publishing, Scientist at UCLA had developed a Wearable human-machine interface devices that can be used to control machines, computers, music players, and other systems. A challenge for conventional HMIs was the the presence of sweat on human skin which is resolved now as this devices can be used underwater and generate their own power.
In January 2020, HSBC, a financial services company, had developed an AI-based solution that improves the speed and accuracy of fraud detection in payment activities. Artificial Intelligence monitors and scores millions of transactions daily by using data on purchase location and customer behavior, IP addresses, and other information to identify subtle patterns that signal possible fraud. An AI system used by Danske Bank improved fraud-detection rate by 50% and decreased false positives by 60%.
