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Human Machine Interface Market Growth Rate 2019 | Rising Trends, Demand Status and Growth Potential in Automation Sector Forecast to 2024

Human Machine Interface

Report Titled: “Human Machine Interface Market – Growth, Trends, and Forecast (2019 – 2024)

The Research Report on “Human Machine Interface Market” 2019 report includes every aspect of the Human Machine Interface industry along with the progress performance. Human Machine Interface Market report presents an analysis of market size, share, and growth, trends, and price structure, statistical and detailed data of the Human Machine Interface industry. Additionally, Human Machine Interface Market 2019 research report offers key analysis on the industry status of the Human Machine Interface producers with market size, growth, share, trends as well as business price structure.

The Human Machine Interface Market report is a professional and detailed study on the Human Machine Interface business. Human Machine Interface market to predict future market directions between the forecast periods from 2019 to 2024 providing you with vital data for your business decisions.

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Scope of the Report:

  • Human machine interface (HMI) is used to optimize a process, by centralizing and digitizing, for the user, where the operators can see relevant pieces of information in different forms of graphs, chatbots, or digital assistance. Adoption of automation in various end-user industries, like in food and beverages, packaging, etc. to increase operational efficiencies is a major trend catalyzing the expansion of the human machine interface market. Currently, the increasing number of industrial applications and automation in the United States is expected to propel the utilization of human machine interfaces in the country, which is helping the industry to grow.

    Market Overview:

  • The global human machine interface market was valued at USD 3.36 billion in 2018, and it is expected to reach a value of USD 6.56 billion by 2024, at a CAGR of 10.3%, over the forecast period (2019-2024). The human interface machine is supported by the growth of the Industry 4.0. This rise of new digital industrial technology is having an affirmative impact on this industry.
  • – The manufacturing industry remains a key driver for economic growth, societal wealth, and improved standard of living. On the same time, the manufacturing industry is focusing on increasing efforts for lowering their expenses in the numerous businesses and this effort is propelling the growth of the global human machine interface (HMI) market.
  • – The presence of a considerable number of solution providers and increasing high-end production activities, like chatbots and digital assistants, driving the HMI market. Nowadays, chatbots are combined with BigData to provide more assistance to the end user. The demand for these chatbots in the service industry is acting as a positive outlook for the human machine interface market.
  • – On the contrary side, the automated equipment requires higher capital expenditure, when compared to a manual system. Moreover, skilled labors are required for the proper functioning and operating those machines, which result in an increase in total cost.
  • – In September 2018, Siemens AG introduced assistant systems that visualize the dynamic processes that bring the energy transition to the power grid and provide targeted recommendations for actions to optimize the grids and prevent blackouts.

    Human Machine Interface Report Also Covers Offer for New Project Includes:

    • Market Entry Strategies
    • Countermeasures of Economic Impact
    • Marketing Channels
    • Feasibility Studies of New Project Investment
    • Research Conclusions of the Human Machine Interface Industry

    The report provides key statistics on the market status of the Human Machine Interface Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Human Machine Interface .

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    Human Machine Interface Market Report Also Covers Marketing Strategy Analysis, Top Manufacturers:

  • ABB Ltd
  • Honeywell International Inc.
  • Rockwell Automation Inc.
  • Mitsubishi Corporation
  • Schneider Electric SE
  • Emerson Electric Co.
  • General Electric Co.
  • Texas Instruments Inc.
  • Yokogawa Electric Corporation
  • Siemens AG
  • Robert Bosch GmbH

    Key Market Trends:

    The Pharmaceutical Sector is Expected to Witness Significant Growth Rate Over the Forecast Period

    – The pharmaceutical industry has been increasingly adopting automation, owing to various factors, such as demand for more production and better efficiency. Moreover, companies have been adopting philosophies, such as lean manufacturing and six sigma, which increase the emphasis on efficiency.
    – Technology combined with automation can drive for better output and efficiency of the manufacturing process. The impact of automation can be seen in the current trend of the pharmaceutical industry of using high-precision contamination-free minimal human-interaction machines. This augments the need for automated solutions, particularly with respect to remote monitoring processes, thereby, increasing the demand for HMI solutions.
    – According to a report by Torreya Partners and Organization for Economic Cooperation and Development, the pharmaceutical industry is expected to witness a CAGR of around 150-200% in different countries. Such huge growth may catalyze the human machine interface industry.
    – In addition to that, ‘defect identification’ is one of the major inspections in the pharmaceutical and chemical industry and it is implemented for ensuring the quality of products, avoiding a mix-up of medicines during packaging, labeling print verification, barcoding, color recognition, etc. which are being automated to increase efficiency, owing to which HMI systems are expected to grow.

    Asia-Pacific is Expected to Register the Highest CAGR

    – Asia-Pacific is expected to grow at a higher growth rate, compared to other regions, because of the increase in disposable income and an increase in population. In this region, China and Japan are the manufacturing hubs of the pieces of equipment required for the human interface machine. On the same side, in India manufacturing has emerged as one of the high-growth sectors. ‘Make in India’ program places India on the world map as a manufacturing hub and gives global recognition to the Indian economy.
    – According to the Indian Brand Equity Foundation, the manufacturing sector of India has the potential to reach USD 1 trillion by 2025 and India is expected to rank among the top three growth economies and manufacturing destination of the world by the year 2020.

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    Detailed TOC of Human Machine Interface Market Report are:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Move Toward Industry 4.0 and Adoption of IoT
    4.3.2 Increased Focus on Developing Manufacturing Processes
    4.4 Market Restraints
    4.4.1 High Initial Set-up Costs and Lack of Skilled Operators
    4.5 Industry Attractiveness – Porter’s Five Forces Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry
    4.6 Value Chain / Supply Chain Analysis

    5 MARKET SEGMENTATION
    5.1 By Type of Offering
    5.1.1 Hardware
    5.1.2 Software
    5.1.3 Services
    5.2 By End User
    5.2.1 Automotive
    5.2.2 Food and Beverage
    5.2.3 Packaging
    5.2.4 Pharmaceutical
    5.2.5 Oil and Gas
    5.2.6 Metal and Mining
    5.2.7 Other End Users
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.2 Europe
    5.3.2.1 United Kingdom
    5.3.2.2 Germany
    5.3.2.3 France
    5.3.2.4 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Rest of Asia-Pacific
    5.3.4 Latin America
    5.3.4.1 Brazil
    5.3.4.2 Argentina
    5.3.4.3 Mexico
    5.3.4.4 Rest of Latin America
    5.3.5 Middle East & Africa
    5.3.5.1 Saudi Arabia
    5.3.5.2 UAE
    5.3.5.3 Rest of Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.2 ABB Ltd
    6.3 Honeywell International Inc.
    6.4 Rockwell Automation Inc.
    6.5 Mitsubishi Corporation
    6.6 Schneider Electric SE
    6.7 Emerson Electric Co.
    6.8 General Electric Co.
    6.9 Texas Instruments Inc.
    6.10 Yokogawa Electric Corporation
    6.11 Siemens AG
    6.12 Robert Bosch GmbH
    6.13 Eaton Corporation

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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