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The North American region is anticipated to dominate the human machine interface market during the projected period. Growth in discrete industries, rising demand for advanced software, and significant adoption of innovative manufacturing process are the factors responsible for the market growth. The Asia Pacific region is anticipated to witness a very high growth. Technological advancements in several industries and rising infrastructure and economic developments in Japan, India, China, and other Southeast Asian economies are the key factors propelling market growth in the Asia Pacific region.Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/1695202/
The rising trend towards protocol conversion for exchanging data between connected devices is further driving the human machine interface market growth. Furthermore, developments in technology for instance, open platform architecture ensuing enhancement of the mitigation process is fueling the market growth. However, factors such as change in business process and high capital requirement are the key challenges impacting to the market growth. Moreover, inadequate skilled professionals and lack of awareness regarding HMIs also acts as restraints to the market.
The global Human Machine Interface Market is anticipated to reach USD 11.88 billion by 2026 according to a new study. Major factors for the human machine interface market growth includes the rising adoption of industrial automation equipment in manufacturing industry, growing smart automation demand, growth of industrial internet of things, and rising need for monitoring in the manufacturing facilities. Further, advancements in HMI programming software with the purpose to incorporate ability to manage multi-vendor environment is expected to intensify market growth during the forecast period. Advantages such as remote operation along with extensive adoption of HMIs by the Oil & Gas industry and water treatment plants to operate in harsh environments is expected to further propel the human machine interface market. Further, it has also stimulated manufacturers to develop devices with enhanced wear and tear property.
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Key strategies adopted by the players in the market includes new product launches, product developments, acquisitions, expansions, and collaborations for enhancement of product offerings and expanding reach. ABB Ltd., Eaton Corporation, Siemens AG, Emerson Electric Co., Honeywell International Inc., Yokogawa Electric Corporation, Rockwell Automation Inc., Mitsubishi Electric Corporation, American Industrial Systems Inc. and Schneider Electric SE among others.
Table of Contents
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-aways
1.5. Stakeholders
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. HMI Market Insights
3.1. HMI Industry snapshot
3.2. HMI - Ecosystem analysis
3.3. HMI market dynamics
3.3.1. HMI Market Forces
3.3.1.1. HMI Market driver analysis
3.3.1.2. HMI Market restraint/challenges analysis
3.3.1.3. HMI Market opportunity analysis
3.4. Industry analysis - Porter's five force
3.4.1. Bargaining power of supplier
3.4.2. Bargaining power of buyer
3.4.3. Threat of substitute
3.4.4. Threat of new entrant
3.4.5. Degree of competition
3.5. HMI market PEST analysis, 2017
3.6. Value Chain Analysis
3.7. HMI Industry trends
3.8. Competitive Ranking Analysis
4. HMI Market- Size and Forecast by Product, 2018-2026
4.1. Key findings
4.2. Display Terminals
4.3. Interface Software
4.4. Industrial PCs
4.5. Others
5. HMI Market Size and Forecast by End-user, 2018-2026
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Related Report:
Global Human Machine Interface Market Size, Status and Forecast 2019-2025
North America is expected to lead the overall market between 2018 and 2023. Factors such as growth in the discrete industries, high adoption of advanced manufacturing practices, and increasing demand for advanced software solutions in the manufacturing industries are propelling the growth of the human machine interface market in this region. The HMI market in APAC is expected to witness the highest growth rate during the forecast period. Technological innovations in different industries and increasing economic and infrastructure developments in China, Japan, India, and other Southeast Asian countries are the major factors driving the market growth in the APAC region.
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