Reliable Data You Can Trust
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A recent report published by Infinium Global Research on the human machine interface market provides an in-depth analysis of segments and sub-segments in the global as well as regional human machine interface market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional human machine interface market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global human machine interface market. According to the report, the global human machine interface market is projected to grow at a CAGR of 9.5% over the forecast period of 2020-2026.
Human-machine interface technology is used by nearly all industrial organizations, as well as an extensive range of other companies, to interact with machinery and enhance their industrial procedures. The interface consists of the hardware and the software that allows the user input to be translated by the user. Some of the most trending HMI technologies are head-up display system, keyless entry, power seat control, and occupant detection. The human-machine interface is a portal to exchange information, convert raw and unorganized data into useful and actionable data. Gesture control, customization, speech recognition, augmented reality, etc. are some of the key features of Human-Machine Interface technologies.
HMIs technology is used at various locations or applications such as in automobiles, household appliances, handheld devices (smartwatches, smartphones), video games, machines, and a very wide range of applications in the industrial sector. Enhanced user experience and availability of greater comfort features in the manufacturing industries is expected to be the factor driving the growth of the Human-machine interface market. Additionally, the growing demand for HMI in connected cars and increasing sales of commercial and passenger vehicles are anticipated to fuel the growth of the HMI in the automotive industry over the forecast period. On the other hand, the high deployment cost of the advanced system is restraining the growth of the Human-machine interface market. Furthermore, the integration of multiple technologies such as adaptive and holistic HMI and integration of smartphones with HMI is augmented to provide several growth opportunities for the key players in the human-machine interface market. The impact of the COVID-19 pandemic on global manufacturing industries is expected to significant and severe as the major economies resort to lockdown to control the spread of the disease. COVID-19 is expected to create unprecedented disruption in the end-user sector and associated industries of human-machine interface. The COVID-19 pandemic highly affected to already declining automotive sector around the world. All vehicle segments are expected to report de-growth in the first and second quarter of 2020 due to low consumer confidence, weak demand, and growing economic slowdown. However, the coronavirus pandemic revealed the significance of digital assets to economies which positively impacts the human-machine interface market.
Among the geographies, Asia Pacific is expected to be the highest contributor in terms of revenue followed by Europe and North America. The dominance of this region is owing to its considerably large industry verticals along with the substantial scope of application for different HMIs has contributed significantly to its leading market share in terms of revenue. The large-scale adoption of SCADA and distributed control systems also has fueled the adoption of human-machine interfaces in numerous manufacturing industries. Continuous infrastructural developments coupled with industrial development activities in emerging economies have opened new avenues, creating several opportunities in the region for human-machine interface.
The report on the global human machine interface market covers segments such as offering, and end user industry. On the basis of offering, the sub-markets include hardware, software, and services. On the basis of the end user industry, the sub-markets include automotive, healthcare, food & beverages, oil & gas, packaging, aerospace & defense, and other end users.
The report provides profiles of the companies in the market such as Schneider Electric SE, ABB Ltd., Siemens AG, Rockwell Automation, Inc., Mitsubishi Electric Corporation, Advantech Co, Ltd, General Electric, Honeywell International Inc., Yokogawa, and Emerson Electric Co.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the human machine interface market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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