Human Machine Interface (HMI) Market Size, Share, Opportunities, And Trends By Component (Hardware, Software), By Screen Size (Between 1" and 5", Between 5" and 9", Between 9.1" and 13", Between 13.1" and 17", More than 17"), By End-User Industry (Manufacturing, Water And Wastewater, Energy And Power, Transportation, Automotive, Oil And Gas, Utilities, Healthcare, Consumer Electronics, Others), And By Geography - Forecasts From 2023 To 2028

The human machine interface (HMI) market is projected to grow at a CAGR of 6.27% over the forecast period, increasing from US$4.539 billion in 2021 to a total market size of US$6.947 billion by 2028.

Human machine interface displays are devices used across various industry verticals to represent a control system while offering real-time data acquisition visually. The major factor driving the demand for HMI solutions is the trend toward industrial automation and its long-run cost-effectiveness compared to conventional operating solutions. Automation of complex legacy systems poses a major market opportunity as various organizations opt for a more digitalized framework for effectively monitoring and controlling their equipment. However, the security concerns regarding a third party's unauthorized access to HMIs will restrict the demand for these displays.

Increasing investments in factory automation are driving the HMI market.

Industry 4.0 is the fourth industrial revolution that aims to automate manufacturing activities and improve an enterprise's data acquisition capabilities. Automation and data acquisition is made by integrating various technologies in manufacturing, including industrial IoT solutions, additive manufacturing, autonomous robots, system integration, big data, and analytics, among many others. HMI display enables the setup of a centralized control center and ease in machinery management, which results in improved productivity. In addition, technological advancements facilitate flexibility by offering the end user the capability of customizable visualization of the system's state, further boosting the demand for these devices. Increasing investments in factory automation by big organizations to reduce inefficiencies and unplanned downtime is propelling the need for these devices. Favorable government policies are promoting the setup of SMEs worldwide. Increasing adoption of HMI display coupled with the trend towards factory automation among SMEs will boost the demand for these devices over the forecast period.

The surge in demand for fuel-efficient vehicles with well-equipped safety features has positively impacted global automotive production and sales.

Upgrades have become an inescapable feature of the auto business as manufacturing technology evolves rapidly. For instance, the advent of intelligent cars is leading to the development and incorporation of advanced technologies such as adaptive cruise control (ACC) and lane departure warning systems (LDW). As a result, the number of vehicles with adaptive cruise control systems has been witnessing good growth globally. It is expected to contribute considerably to the development of the HMI market. For instance, according to the International Organization of Motor Vehicle Manufacturers, 2022, global production stood at 85.02 million units, representing a 10% increase over 2020's production volume. Moreover, the same source stated that in 2022, global automotive sales reached 81.62 million units, signifying a 3.6% increase over 2020's sales volume.

By geography, North America and Europe held a significant market share due to technology's early adoption and rising demand for better in-vehicle infotainment. In addition, increasing investments in renewable power projects to achieve sustainable development goals and reduce carbon emissions will boost the demand for these solutions. The Asia Pacific region will grow significantly throughout the forecast period because of the rising number of SMEs and increasing expenditure on factory automation across industry verticals. Various companies in the APAC region are developing smart AI-integrated systems in the market. For instance, In August 2022 - ABB India announced that the company has developed and elevated its smart power factory in Nelamangala, Bengaluru, to fulfil the substantial demand for the solutions and energy management technologies it offers. Moreover, the company also said that the smart facility harnesses advanced collaborative robotics technology for better human-machine interface (HMI), artificial intelligence (AI), and advanced digitalization technologies to construct a sophisticated, automated, and flexible future-ready factory.

Market Developments:

• Ford unveiled the ultra-high specification Ranger Platinum pickup in November 2022. The Ranger Platinum features a sleek and modern leather-trimmed interior and special exterior detailing and finishes that enhance the Ranger's already characterful look. In addition, Ford's 3.0 liter V6 turbodiesel engine also powers the Ranger Platinum, which is only offered in a five-seat, double cab configuration.
• In June 2021, Red Lions Controls launched its new secure Remote Access Platform in partnership with MB Connect Line GmbH. Similarly, in November 2021, Rockwell Automation, Inc. announced the launch of its HMI software for remote access solutions. This aids the original equipment manufacturers by accessing the industrial equipment remotely with the help of cloud-based software and a remote access router.

Human Machine Interface (HMI) Market Scope:

 

Report Metric	Details
Market Size Value in 2021	US$4.539 billion
Market Size Value in 2028	US$6.947 billion
Growth Rate	CAGR of 6.27% from 2021 to 2028
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Component, Screen Size, End-User Industry, and Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation, Schneider Electric, ABB, Siemens, Honeywell International Inc., General Electric, Yokogawa India Ltd., Kontron S&T Group
Customization Scope	Free report customization with purchase

 

Market Segmentation:

• By Component
  • Hardware
  • Software
• By Screen Size
  • Between 1" and 5"
  • Between 5" and 9"
  • Between 9.1" and 13"
  • Between 13.1" and 17"
  • More than 17"
• By End-User Industry
  • Manufacturing
  • Energy and Power
  • Transportation
  • Water and Wastewater
  • Automotive
  • Oil and Gas
  • Utilities
  • Healthcare
  • Consumer Electronics
  • Others 
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    •  Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia 
    • Japan
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Data

2.3. Validation

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. HUMAN MACHINE INTERFACE MARKET BY COMPONENT   

5.1. Introduction

5.2. Hardware

5.3. Software 

6. HUMAN-MACHINE INTERFACE MARKET BY SCREEN SIZE

6.1. Introduction

6.2. Between 1” and 5”

6.3. Between 5” and 9”

6.4. Between 9.1” and 13”

6.5. Between 13.1” and 17”

6.6. More than 17”

7. HUMAN-MACHINE INTERFACE MARKET BY END-USER INDUSTRY

7.1. Introduction 

7.2. Manufacturing

7.3. Energy and Power

7.4. Transportation

7.5. Water and Wastewater

7.6. Automotive

7.7. Oil and Gas

7.8. Utilities

7.9. Healthcare

7.10. Consumer Electronics

7.11. Others 

8. HUMAN MACHINE INTERFACE MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Component

8.2.2. By Screen Size

8.2.3. By End-User Industry

8.2.4. By Country

8.2.4.1. United States

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Component

8.3.2. By Screen Size

8.3.3. By End-User Industry

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Component

8.4.2. By Screen Size

8.4.3. By End-User Industry

8.4.4. By Country

8.4.4.1. Germany

8.4.4.2. France

8.4.4.3. United Kingdom

8.4.4.4. Spain 

8.4.4.5. Others

8.5. Middle East and Africa

8.5.1. By Component

8.5.2. By Screen Size

8.5.3. By End-User Industry

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. UAE

8.5.4.3. Israel 

8.5.4.4. Others

8.6. Asia Pacific

8.6.1. By Component

8.6.2. By Screen Size

8.6.3. By End-User Industry

8.6.4. By Country

8.6.4.1. China

8.6.4.2. India

8.6.4.3. South Korea

8.6.4.4. Taiwan

8.6.4.5. Thailand 

8.6.4.6. Indonesia  

8.6.4.7. Japan 

8.6.4.8. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrative

9.3. Mergers, Acquisition, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Mitsubishi Electric Corporation

10.2. Omron Corporation

10.3. Rockwell Automation

10.4. Schneider Electric

10.5. ABB

10.6. Siemens

10.7. Honeywell International Inc.

10.8. General Electric

10.9. Yokogawa India Ltd.

10.10. Kontron S&T Group

Mitsubishi Electric Corporation

Omron Corporation

Rockwell Automation

Schneider Electric

ABB

Siemens

Honeywell International Inc.

General Electric

Yokogawa India Ltd.

Kontron S&T Group