New Computer Technology market report from Markets and Markets: "Human Machine Interface Market, Global Forecast & Analysis (2012-2017); By Product (Display Terminals, Controls, Industrial PC, Interface Software); Application and Geography"
Boston, MA -- (SBWIRE) -- 12/13/2012 -- Human Machine Interfaces plays a significant role in industrial automation, enabling the efficient operation and monitoring of essential production devices. Growth in the automation industries which in turn enhanced the growth in HMI market is a major driver. The other key factors driving the market include demand for enhanced efficiency, high growth of software services suitable for each application and increasing need for data security and reliable hardware. On the other side, the HMI market growth is hampered by factors like limited geographical diversity, high cost of HMI platforms and advancements in technology at a relatively slow pace.
Secured remote access to HMI could add a competitive advantage for the key market players. Interface software is growing at a higher CAGR compared to display terminals and industrial PCs, owing to growth in software services suitable for each industrial application. HMI revenue through 'discrete' applications will grow at a higher rate over 'process' applications' revenue. 'Automotive' and 'healthcare' applications revenues constitute 32% of the overall revenue in 2011. Automotive, healthcare, metal & mining and food & beverage will be the key application areas of HMI market.
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It is observed that APAC region is growing at a higher CAGR and is expected to have the leading market share: i.e. 28% of the total HMI market in 2017. The higher CAGR of APAC is primarily due to its fast growing economy and increased significance for automation industries. 'APAC' and 'ROW' are the emerging markets currently due to an increase in number of automation industries in these regions. The overall HMI market is estimated to be worth $2.50 billion in 2012 and expected to reach $4.05 billion in 2017 at a CAGR of 10.13% from 2012 to 2017. Both 'top-down' and 'bottom-up' approaches are used to arrive at the market values. Some of the key players of the HMI market covered in this report are ABB (Switzerland), American Industrial Systems Inc. (U.S.), Bosch Rexroth AG (Germany), Emerson Electric Co. (U.S.), General Electric (U.S.), Honeywell International Inc. (U.S.), Invensys plc (U.K.), Mitsubishi Electric Corporation (Japan), Omron Corporation (Japan), Parker Hannifin Corp (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).
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