Human Machine Interface Market Size, Share & Trends Analysis Report By Product (Display Terminals, Interface Software, Industrial PCs, Others), By Application, By Region, And Segment Forecasts, 2023 - 2030

Human Machine Interface Market Size, Share & Trends Analysis Report By Product (Display Terminals, Interface Software, Industrial PCs, Others), By Application, By Region, And Segment Forecasts, 2023 - 2030

Human Machine Interface Market Growth & Trends

The global human machine interface market size is expected to reach USD 11.60 billion by 2030, registering a CAGR of 10.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Developments in HMI programming software to integrate multi-vendor environment management ability is expected to fuel market growth over the coming years. In addition, advantages offered such as remote operation along with wide usage of HMIs in oil and gas and water treatment units for operating in harsh climates may also boost product demand significantly. This has also instigated companies to develop devices with better wear and tear properties.

Growing trend of protocol conversion for the exchange of data between all connected devices is anticipated to further catalyze HMI market growth. Moreover, technological advancements such as open platform architecture or OPA resulting in improvement of migration process is also likely to spur the demand in coming years.

Factors such as rising need for change in business process to incorporate HMIs along with high upfront capital may have adverse effects on the market development. Furthermore, awareness regarding HMIs among management and lower level staff along with the lack of experienced professionals may also affect the industry growth.

Human Machine Interface Market Report Highlights

• Interface software accounted for substantial revenue share in 2022. This may be attributed to the increasing adoption of PC- based open source monitoring and controlling system worldwide.
• Development of new and innovative displays along with emergence of industrial internet of things may contribute towards further growth in the display terminal segment.
• Oil & gas emerged as the dominant application and register a significant CAGR of over 11.4% over the forecast period. This may be attributed to increasing demand from the oil & gas sector owing to the benefits offered by HMI regarding the flow of information inside a pipeline without updated monitoring capabilities for overcoming a particular problem.
• HMI offers several benefits regarding driver safety and security by integrating solutions such as ADAS, ACC and LDW, which are expected to drive demand in the automotive industry.
• North America HMI market is estimated to hold majority share and accounted for more than 29.3% of the consumption in 2022. Additionally, Asia Pacific is anticipated to exhibit high growth over the next few years. This may be attributed to the migration of manufacturing processes to developing regions in order to capitalize on labor cost and high availability of raw materials in this region.

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