Human Machine Interface (HMI) Market worth $7.3 Billion USD by 2027, at CAGR of 8.1%

 

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Increasing number of government initiatives to promote the adoption of operational technologies and rapidly growing adoption of industrial automation in the manufacturing processes are major factors driving the growth of the HMI market. Additionally, growing demand for safety compliance automation solutions is another key driver for the market.

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Industry Trends of the Global Light Control Switches Market:

1. Mitsubishi Electric launched two new Graphic Operation Terminals (GOTs), which come as the latest addition to its GOT2000 Series Wide Model lineup, that help meet customers’ needs for a wider screen to show more information about the factory, process, utility, and other automation applications.

2. Emerson Electric Co. acquired the Progea Group, an industry-leading provider of HMI, SCADA, and PLC solutions. This acquisition is likely to bring new capabilities and resources and create opportunities to deliver end-to-end hardware and software solutions to Emerson’s customers.

3. General Electric Company updated its Proficy Plant application to enhance order execution, non-conformance tracking, and in-process word order editor. The new version will drive continuous improvements with robust manufacturing execution system (MES), HMI/SCADA, analytics, and industrial data management solutions in different manufacturing and process industries.

What are the Driving Factors of Evolution of technologies and consolidation of Light Control Switches Market?

The global Human Machine Interface Market size is estimated to be USD 4.9 billion in 2022 and is projected to reach USD 7.3 billion by 2027, at a CAGR of 8.1%.

“DALI protocol to hold the largest size of light control switches market for wired communication technology during the forecast period.”

The DALI protocol held the largest share of wired communication technology. As of now, DALI is the predominant communication technology used owing to its ease of installation, open protocol, and requirement of less branch wiring than traditional controls. However, technology is not seen as a dominant protocol in the future due to the escalated demand for wireless technologies.

Light Control Switches Market : Top Leading Companies Profiles Key Benefits For Stakeholders:
HMI software to grow at the highest CAGR during the review period.

Offline deployment provides a high degree of security and safety for the data as the entire infrastructure required for HMI solutions is deployed at the user’s premises. It also offers a stable production environment, as it gives full control over software updates and other technical complications. Small enterprises prefer cloud-based HMIs over on-premise solutions as they require a low initial cost compared to on-premise HMI solutions.

Major companies operating in the HMI market include Rockwell Automation Inc. (US), ABB (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Honeywell International Inc. (US), Advantech Co., Ltd. (Taiwan), Emerson Electric Co. (US), General Electric Co. (US), Mitsubishi Electric Corporation (Japan), and Yokogawa Electric Corporation (Japan).

Light Control Switches Market - Geographical Regional Vision by Marketsandmarkets^TM
North America held the largest share in 2021 and Asia Pacific is projected to grow at the highest growth rate during the review period.

The industrial, automotive, power, oil & gas, pharmaceutical, and healthcare sectors are integrating HMI with data analytics to improve performance and reduce overall operational costs, which is promoting the growth of the HMI market in North America. In addition, the presence of major players in the region provides unprecedented leverage for the growth of the HMI market. The major factors driving the growth of the HMI market in Asia Pacific include continuous advancements and technological innovations in various industries; economic development in China, Japan, and India; escalating infrastructural developments in India and other countries in Southeast Asia; and increasing foreign investments in the region.

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

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