Human Machine Interface (HMI) Market worth $7.3 billion by 2027

The report "Human Machine Interface (HMI) Market by Product (Hardware (Basic HMI, Advanced PC Based HMI, Advanced Panel Based HMI) and Software(On Premise HMI and Cloud Based HMI), Configuration (Embedded HMI, Standalone HMI) and Region - Global Forecast to 2027" The global HMI 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%. 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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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. Increasing efficiency of production processes and improved reliability are key advantages of HMI software.

Embedded HMI held the largest share and is projected to grow at the highest CAGR during the review period.

Embedded HMIs are combined with more powerful hardware and software platforms to use the device capabilities to their fullest extent. Furthermore, a connected embedded platform is a part of an intelligent system; it is connected to a network that enables easy communication between 2 machines and provides easy access to an operator. Embedded HMIs improve energy efficiency and can be easily deployed as they occupy much less space as compared to traditional HMIs.

Oil & gas held the largest share of the process industry segment in 2021.

The supply chain of the oil and gas industry, from exploration through delivery, accommodates various automated technologies, including HMI solutions. In addition, stringent government regulations pertaining to safety in oil and gas, along with the need to drive down costs, fuel the adoption of HMIs in the industry. Environmental conditions in oil and gas plants are very harsh, which makes rugged HMIs well-suited for applications in the oil and gas industry.

Automotive held the largest share and is projected to grow at the highest CAGR during the review period.

Increasing demand for automotive in developing countries, technological innovations in the automotive industry, such as electric cars, fuel-efficient cars, connected cars, and growing competition in the market, are expected to drive the HMI market for the automotive industry. Technological progress, such as the development of new software solutions with advanced capabilities, brings more functionality, ease of use, and lower cost of automation products, which have further led to the evolution of HMI software offering, thereby increasing their adoption in the automotive sector.

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.

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).

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Biometric system market forecast supercharge your visualizations worth $82.9 billion by 2027

 

According to a research report "Biometric System Market with COVID-19 Impact Analysis by Authentication Type (Single Factor, Fingerprint, Iris, Face, Voice; Multi-factor), Type (Contact-based, Contactless, Hybrid), Offering Type, Mobility, Vertical & Region - Global Forecast to 2027" published by MarketsandMarkets, the global biometric system market size is expected to grow from USD 42.9 billion in 2022 to USD 82.9 billion by 2027, at a CAGR of 14.1%. Increasing the advancements in biometric technology across various sectors and rising demand for authentication and identification solutions as well as security and surveillance solutions in various application areas are the primary factors driving the market growth. Moreover, growing adoption of biometric system in consumer electronics, BFSI as well as automotive verticals will drive the demand for this technology in the near future.

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The market has slightly declined in 2020, mainly due to the impact of COVID-19. The supply chains were disrupted in March and April 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, that affected the biometric system market. Though the market is impacted in 2020, it is expected to fully recover by mid 2022.

Single factor authentication is estimated to contribute the largest market share in the said market during the forecast period

Single-factor biometric systems are cost-effective and fast. Furthermore, the systems with single-factor authentication are much faster and simplified. However, these systems are prone to high-security risks. Nevertheless, technologically improving hardware and software solutions and biometric systems integrated with AI have increased the level of accuracy and security offered by single-factor authentication. Fingerprint recognition technology is the most used modality. The growth of the market for fingerprint recognition is attributed to the increasing demand for solutions based on this technology in travel and immigration Security Verticals for e-passports and e-visas, as well as in the government sector for issuing a driving license.

Consumer electronics vertical is estimated to be the fastest-growing market during the forecast period

Biometrics is one of the revolutionary technologies in the consumer electronics sector owing to its security and cost-effectiveness. In the consumer electronics industry, smartphones are significantly contributing to the growth of the adoption of biometrics technology. Consumer electronic companies are increasingly developing and deploying advanced and cost-effective biometric security features. There have been rapid advancements in the designs of chips and algorithms of voice and facial recognition. Also, the declining cost of biometric technologies installed in consumer electronics is playing a key role in driving market growth.

Asia Pacific is expected to grow at the highest rate

The market in APAC will grow at the highest CAGR during the forecast period. The biometric system market in APAC is segmented into China, Japan, India, Australia, South Korea, and the Rest of APAC. The presence of prominent biometric system manufacturers, including Fujitsu and NEC Corporation, is expected to contribute to the revenue share of this region owing to the rapid economic growth in major countries such as China, Japan, India, and South Korea The growth of the biometric system market in APAC is also attributed to technological advancements, increased awareness among the masses regarding the use of biometric systems for security purposes, and lowered the cost of devices based on these technologies.

Major players in the biometric system market include Thales Group (Paris), Idemia (France), ASSA ABLOY (Sweden), NEC Corporation (Japan) and Fujitsu (Japan), Precise Biometrics (Sweden), Secunet Security Networks AG (Germany), Stanley Black & Decker, Inc.(France), Aware Inc (US), Cognitec Systems GmbH (Germany) among others.

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APAC's hidden growth opportunity on IoT Sensors Market at a CAGR of 28.6%

The report "IoT Sensors Market with COVID-19 impact by Sensor type, Network Technology, Vertical, Application, and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2026", is expected to grow from USD 8.4 billion in 2021 to USD 29.6 billion by 2026; it is expected to grow at a CAGR of 28.6% during 2021–2026. Increasing use of sensors in IoT applications due to cost and size reduction, and technological advancement, and Introduction of 3GPP Release 13 and Release 14 specifications are the key factors driving the growth of the IoT sensors market. The Growth of Internet penetration rate and High demand for connected and wearables devices are factors propelling the growth of the IoT sensors market.

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“Pressure sensor to hold the largest share of the IoT sensors market in 2020”

The market for pressure sensors is largely driven by increased concerns regarding safety, comfort levels, and reduction in automobile emissions. The regulatory mandates requiring the compulsory installation of onboard diagnostics to reduce greenhouse gas emissions will further lead to growth in demand for pressure sensors.

“The market for the Industrial IoT vertical to hold the largest share of the IoT sensors market in 2020”

The key factor fueling the growth of the industrial IoT segment of the IoT sensors market is the requirement to implement predictive maintenance techniques in different industries to monitor the working of industrial equipment to avoid unscheduled downtimes in production cycles. The intelligent wireless sensors constantly monitor parameters of critical processes in industrial environments, thereby leading to the increased operational efficiencies of industries.

APAC is expected to hold the largest market share during the forecast period

Countries such as India, China, Japan, South Korea, and Australia are key contributors to the growth and the development of the IoT sensors market in APAC. The growing penetration of the Internet across commercial and residential spaces, along with broadening consumer base, increasing disposable income of the masses, and improving IT infrastructures are some key determinants supplementing the growth of the IoT sensors market in APAC.

Texas Instruments (US), TE Connectivity (Switzerland), Broadcom (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), Bosch Sensortec (Germany), TDK (Japan), Infineon Technologies (Germany), Analog Devices (US), Omron (Japan) are the key players in the market.

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DALI protocol & Electronic Control Switches initiatives dominate growth of Light Control Switches Market

 

According to the new market research report, "Light Control Switches Market by Product Type (Switches, Dimmers), Communication Technology (Wired, Wireless), End-use Application, Switch Solutions (Standalone, Integrated), Light Source, Geography - Global Forecast to 2025", The light control switches market is estimated to grow from USD 6.6 billion in 2020 and projected to reach USD 10.1 billion by 2025, at a CAGR of 8.9%. The major factors driving the growth of the light control switches market include the advent of integrated lighting control systems, ongoing and upcoming smart city projects in developing economies, increasing adoption and reduction in prices of LEDs, and growing awareness about energy savings among consumers and governments worldwide.

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

In 2019, 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 for electronic switches is expected to exhibit high growth during the forecast period.”

Electronic switches include wireless switches, sensor-based switches, and others. The adoption of electronic switches is increasing owing to their ability to control lights effectively and ensure higher energy savings, leading to very high growth during the forecast period.

“APAC to hold the largest share of light control switches market during the forecast period.”

APAC accounted for a significant share of the light control switches market in 2019. APAC is expected to be the fastest-growing region for the light control switches market during the forecast period owing to the rapid infrastructure-related activities being undertaken in this region, mainly in China, where smart lighting paves the way for the modernization of infrastructure. Factors such as the ever-growing population, increasing per capita income, as well as vast geographic expansions, have indirectly contributed to the growth of the market for light control switches in the Asian countries.

Some of the major players in the light control switches market are Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Lutron Electronics (US), Schneider Electric (France), Honeywell International Inc. (US), Ideal Industries (US), Adesto Technologies (Echelon Corporation), Panasonic (Japan), Helvar (Finland), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), and Dialight PLC (UK).

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What you need to know about the RTLS Market forecast worth $12.7 billion by 2026

 

According to the new market research report "Real-time Location Systems Market (RTLS) with Covid-19 impact analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt, Sports), Application Use Case & Region - Global Forecast to 2026" the RTLS market is estimated to be valued at USD 3.9 billion in 2021 and reach USD 12.7 billion by 2026, at a CAGR of 26.5%. The increasing regulations in various industries to improve safety, workflow, and security and increasing popularity of ultra-wideband technology-based RTLS solutions are the key factors that will accelerate the growth of the RTLS market during the forecast period. Likewise, growing need for contact-tracing solutions due to COVID-19 pandemic and growing trend of hybrid RTLS solution are expected to create lucrative opportunities for the players in the RTLS market. However, high cost of installation and maintenance and stringent government rules and regulation are expected to restraint market growth

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Healthcare vertical is expected to dominate in the RTLS market during the forecast period

The healthcare vertical is expected to continue to account for the largest market size during the forecast period. The growth of the healthcare vertical can be attributed to the early adoption of RTLS-based solutions for a wide range of applications in healthcare, especially in the US. The growing usage of IoT devices in the healthcare sector is also expected to contribute to the growth of the RTLS market in the healthcare vertical. Concerns over the safety of patients and security of electronic health records and valuable assets have also encouraged the adoption of RTLS solutions in healthcare.

Supply chain management & operational automation/visibility application expected to witness the highest CAGR in the RTLS display market during the forecast period

The supply chain management & operational automation/visibility application is expected to witness the highest CAGR in the RTLS market during the forecast period. RTLS solutions are gaining popularity for locating inventory in warehouses, as well as throughout the supply chains. RTLS technologies allow better visualization of supply chain dynamics in real-time. As companies move toward Industry 4.0, they demand greater visibility for faster decision-making. Real-time data of supply chain operations allows quicker response times to make any alterations in normal operations.

UWB Technology is expected to grow at the highest CAGR in 2026

The market for UWB-based RTLS solutions is expected to grow at the highest CAGR of 33% during the forecast period. UWB technology-based RTLS solutions provide more accurate data than RTLS solutions based on other technologies. UWB technology can support locating objects down to the range of a few centimeters. This is highly beneficial in high-intensity operations in the healthcare and manufacturing verticals. The rapid decline in the prices of UWB tags has also resulted in the increased implementation of these tags in RTLS solutions. The manufacturing and logistics industries are likely to be the major contributors to the growth of the market for UWB-based RTLS solutions in the coming years.

APAC is attributed to grow at the highest CAGR in RTLS market during the forecast period (2021-2026)

APAC is expected to grow at the highest CAGR in the overall RTLS market. The RTLS for Healthcare market in APAC is growing primarily due to rise in the rising number of smartphone & tablet users, partnerships between RTLS players and hospitals, and the presence of supportive government policies.

Advancements in technology have always had major impact in the field of medicine. Smartphone is one of the most dynamic and ubiquitous trends in communication and real-time location tracking. Moreover, these devices are primarily used in the RTLS solutions for tracking and monitoring patients, staff, as well as medical equipment. Mobile phones can also be used for communicating through different platforms such as email, performing Internet searches, and various other applications. Smartphones are one of the fastest growing sectors in the technology industry, and its impact in medicine has already been observed significantly. Smartphones aren’t just making it easier in terms of day-to-day chores; the technology is also streamlining care for both physicians and patients.

Key Market Players

Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), and Savi Technology (US) are among the key players in the RTLS market.

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Industrial Control & Factory Automation Market worth impact analysis $197.8 Billion

 

According to the new market research report on the "Industrial Control & Factory Automation Market by Solution (SCADA, PLC, DCS, MES, Industrial Safety, PAM), Component (Industrial Robots, Industrial 3D Printing, Process Analyzer, Machine Vision, HMI), Industry, Region - Global Forecast to 2026", The industrial control & factory automation market size is expected to grow from USD 133.1 billion in 2021 to USD 197.8 billion by 2026; it is expected to grow at a CAGR of 8.2% from 2021 to 2026. The key factors driving the growth of the market are emphasis on industrial automation and optimum utilization of resources, emergence of connected enterprises and requirement of mass manufacturing of products, government initiatives to promote industrial automation, adoption of emerging technologies such as IoT and AI in industrial environments, and fiscal policies formulated by regional financial institutions to keep manufacturing facilities floating amidst COVID-19 crisis.

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“Industrial sensors segment held the largest market size of the overall component segment of industrial control & factory automation market in 2020“

The industrial sensors segment is expected to hold the largest share of the industrial control & factory automation market. The growth of the industrial sensors segment is driven by the growing adoption of Industry 4.0 and IIoT, and the growing wireless sensors market. Predictive maintenance is expected to offer lucrative opportunities to the players in the industrial sensors market in the coming years. Predictive maintenance is enabled by 3 major solution enhancements over a traditional maintenance schedule: capturing sensor data, facilitating data communications, and making predictions. As sensors are an important part of predictive maintenance solutions, the demand for industrial sensors is expected to increase significantly in the coming years.

“PAM solutions to grow at the highest rate from 2021 to 2026”

The PAM segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing deployment of PAM solutions in process and discrete industries to build a comprehensive data repository related to different equipment installed in these plants, right from their uptime performance to their life cycle cost assessment.

“Metals & mining process industry to grow at the highest rate from 2021 to 2026”

The mining & metals industry is related to the extraction of mineral and metal reserves from the core of the earth, as well as fabricating metals. The adoption of automation in the mining & metals industry has improved productivity, increased safety, minimized wear, and enhanced reliability and quality of products. The safety of the workforce is always the top priority in mining operations. Hence, regulatory authorities across the world have set stringent rules and regulations for mine owners to ensure the safety of mines. These strict regulations force mining companies to adopt industrial control & factory automation technologies, which can help them in predicting any mishap in advance. Thus, the adoption of industrial control & factory automation technologies, and advanced manufacturing equipment is increasing significantly in this industry.

“Automotive industry held the largest market size of overall discrete industry market in 2020”

The automotive segment is anticipated to hold the largest share of the industrial control & factory automation market, by discrete industry, during the forecast period. Advancements in automotive manufacturing technologies and an increase in investments by key automotive manufacturers in industrial control & factory automation solutions are among the factors expected to drive the industrial control & factory automation market for the automotive industry.

“APAC to record highest CAGR from 2021 to 2026”

Most of the key manufacturers from different industries have shifted their manufacturing plants in APAC due to the low labor costs and the availability of skilled labor in the region. The increasing number of automation activities in process and discrete industries is one of the major factors driving the growth of the industrial control & factory automation market in APAC. In addition, countries such as China, Japan, South Korea, and India are contributing to the growth of the industrial control & factory automation market in the region. These countries account for considerable market size and hold a wide scope for the development of the industrial control & factory automation market in APAC.

Major players involved in the industrial control & factory automation market include ABB Ltd. (Switzerland), Mitsubishi Electric Corp. (Japan), Endress + Hauser AG (Switzerland), Emerson Electric Co. (US), General Electric (US), Rockwell Automation, Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), Honeywell International Inc. (US), and Yokogawa Electric Corp. (Japan).

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4 Ways the Assistive Robotics Market Will Influence the Surgery assistance of the Future

 

According to the new market research report "Assistive Robotics Market by Mobility, Type (Physically, Socially, Mixed Assistive), Application (Elderly Assistance, Companionship, Handicap Assistance, Surgery Assistance, Industrial, Defense, Public Relations), and Geography - Global Forecast to 2024", The assistive robotics market is expected to grow from USD 4.1 billion in 2019 to USD 11.2 billion by 2024, at a CAGR of 22.3% during the forecast period. Due to the increasing number of people suffering from strokes and spinal cord injuries across the world, demand for assistive robots such as exoskeletons is increasing. Hence, the increasing prevalence of strokes and spinal cord injuries is one of the key factors driving the growth of the assistive robotics market. Another driver for the assistive robotics market includes rising insurance coverage for medical exoskeletons and robotic surgeries.

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Mixed assistive robots to hold largest share of assistive robotics market by 2019

Surgical robots and elderly care robots are covered under the category of mixed assistive robots. In recent times, there has been an upsurge in the adoption of robot-assisted surgeries due to the various advantages they offer. Also, the demand for elderly care robots has risen steadily over the years, owing to the rise in the elderly population coupled with the lack of attendants. Hence, the increasing adoption of robot-assisted surgeries across the world and the rising geriatric population are expected to propel the demand for mixed assistive robots during the forecast period.

Surgery assistance application to dominate assistive robotics market during forecast period

Surgery assistance application is expected to hold the largest share of the assistive robotics market in 2019 and is projected to dominate the market during the forecast period. In recent times, people are moving toward the adoption of robot-assisted surgeries due to the various advantages they offer, such as smaller incisions, decreased blood loss, less pain, and quick recovery. With many people opting for minimally invasive surgeries due to their numerous advantages, the assistive robotic systems in the surgery assistance application are expected to hold the largest share during the forecast period.

North America to hold largest share of assistive robotics market by 2019

North America is expected to hold the largest share of the assistive robotics market in 2019 and is projected to dominate the market during the forecast period. Growing demand from the healthcare sector for rehabilitation and a favorable funding scenario for research on assistive technologies are the key factors driving the market growth of assistive robots in North America.

Major players in the assistive robotics market include Kinova Robotics (Canada), Focal Meditech (Netherlands), Cyberdyne (Japan), Intuitive Surgical (US), ReWalk Robotics (Israel), SoftBank Robotics (Japan), Ekso Bionics (US), Ubtech Robotics (China), Barrett Technology (US), and Hyundai (South Korea). Apart from these, Intuition Robotics (Israel) and Mojin Robotics (Germany) are a few of the emerging companies in the assistive robotics market.

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