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Human Machine Interface Technology Market Worth $4,050.0 Million by 2017

According to a new market research report, “Human Machine Interface (HMI) Market Global Forecast & Analysis (2012 -2017), By Product Type (Display Terminals, Industrial PC, Interface Software, Other Controls), Application & Geography., the total market is expected to reach $4050.00 million by 2017, at a CAGR of 10.13% from 2012 to 2017.

The global HMI market is estimated to be worth $2.50 billion in 2012 and expected to reach $4.05 billion in 2017 at a CAGR of 10.13% from 2012 to 2017. The key factors driving the HMI market is growth in industrial automation, demand for enhanced efficiency, growth of software services suitable for each applications and increasing need for data security and reliable hardware and software. On the other side, the HMI market growth is hammered by factors like slow advancements in technology, limited geographical diversity and high cost of HMI platforms. Growth of automation industries in emerging nations and demand for advanced functionalities seem to be the growth opportunities for the HMI market. Secured remote access HMI will add a competitive advantage to HMI providers.

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As of 2012, market share of display terminals is 33.08% of the HMI revenue, higher as compared to other HMI products followed by Industrial PCs. However, the interface software market is observed to grow at a higher CAGR of 12.0% from 2012 to 2017. In 2011, the discrete applications and process applications have relatively same market shares. But it is observed that discrete applications market is expected to grow at a higher CAGR of 12.1% from 2012 to 2017. Healthcare has the largest share in 2011 but automotive industrial application is expected to have largest market share by 2015 owing to its increasing number of industries. Automotive industry will be the key application area for HMI market in the future. In 2011, Americas has the lead share of 27.11% of the global HMI market. APAC market is growing at a higher CAGR as compared to other regions and expected have leading share by 2015.

The overall HMI market is estimated to be worth $2.50 billion in 2012 and expected to reach $4.05 billion in 2017 at a CAGR of 10.13% from 2012 to 2017. Currently Americas commands the largest share in the global HMI market followed by Europe and APAC. It is observed that APAC is growing at a higher CAGR and is expected to have the largest market share i.e. 28% of the total HMI market by 2017. The higher CAGR of APAC is primarily due to its fast growing economy and increased significance for automation industries. Human Machine Interface (HMI), as the name describes, is an interface between operator and a machine. The level of interaction with the machines has increased exponentially.

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Human Machine Interfaces plays a significant role in industrial automation, enabling the efficient operation and monitoring of essential production devices. Growth in the automation industries which in turn enhanced the growth in HMI market is a major driver. The other key factors driving the market include demand for enhanced efficiency, high growth of software services suitable for each application and increasing need for data security and reliable hardware. On the other side, the HMI market growth is hampered by factors like limited geographical diversity, high cost of HMI platforms and advancements in technology at a relatively slow pace.

The HMI Market is expected to grow at a healthy rate owing to increasing need for controls in the automation industry. Revenues in ‘Discrete’ applications is growing at a faster rate compared to process applications primarily due to growing automotives, metals & mining, and packaging industry applications in APAC and ROW regions. Interface software is growing at an impressive rate as compared to display terminals and industrial PCs. HMI market in the APAC region is expected to grow at a higher CAGR in the next five years owing to high investment in this region by the automation providers.

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