High growth of industrial automation is expected to drive growth of the global human machine interface market during the forecast period
Industrial automation refers to practices of software and control systems to monitor and operate independently as mechanized system solutions of manufacturing processes. Industrial factory and control automation devices are executed for reducing the human interaction in the development of products and services. This, in turn, reduces labor and production costs thereby helping to increase the production output. Human machine interface (HMI) plays a vital part in industrial automation to improve industrial controls. Over the years, many industries such as packaging, pharmaceutical, energy, mining, automobile, petrochemical, and oil & gas has witnessed automation in the recent past. Since HMI provides realistic views of plant, industries are replacing conventional control process with advanced methods. Thus, these factors are expected to drive growth of the global human machine interface market during the forecast period.
2. Growing demand for mobility and efficiency is expected to propel the global human machine interface market growth over the forecast period
Manufacturing industries are struggling with reliable and instant monitoring and controlling of data from different remote locations. Furthermore, global manufacturers are seeking for solutions that can enable the remote monitoring, maintenance, and controlling of equipment. Furthermore, remote maintenance helps to decrease costs and enhance efficiency compared to local maintenance procedures. Remote monitoring and controlling of volume data will offer mobility to manufacturing industries and other sectors. This, in turn, is increasing the demand for HMI with communication devices for allowing information access on their personal communication devices. Hence, these factors are expected to propel the market growth over the forecast period.
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Inadequate HMI design in the market are expected to restrain growth of the global human machine interface market during the forecast period
Although HMI provides numerous advantages, it still has various deficiencies that can result into accidental and psychological risk. Furthermore, the use of inadequate HMI systems can lead to various occupational accidents. As a matter of fact, HMI systems are complex and need to be operated by skilled personnel. These operators require proper training regarding the use of these systems. The machine operator may suffer from cognitive overload incase information provided by systems is ambiguous or not readily understandable. In some cases, accidents occur due to operational errors such as failure to act on information provided by the interface or inability to operate machine correctly. Therefore, these factors are expected to restrain growth of the global human machine interface market during the forecast period.
2. High installation cost of HMI is expected to hinder the global human machine interface market growth over the forecast period
The major challenge for HMI is its slow adoption since it requires heavy infrastructure to enable interface between human and machine. Currently present HMI technologies include multi-color display, rubber keypad, and touch screen panel. These technologies are user-friendly and operators require less training to adopt them. Some advanced technologies include multi-touch screen, laser key panels, voice recognition, gesture recognition, and wearable electronics still these technologies are slowly adopted in the plants. The huge installation cost and lack of skilled operators is the main factor behind the slow adoption of these technologies. Hence, these factors are expected to hinder the market growth over the forecast period.
Manufacturing opportunities in emerging economies
There is huge scope for HMI devices in the emerging nations such as China, Brazil and India among others as the economy of these countries are improving at a rapid pace. At present, china is the fastest growing economy across the globe. Industrialization is growing rapidly in these countries which represent a positive outlook for human machine interface market. In India, economy saw a huge expansion in 2006 to 2011, reaching a compound annual growth rate (CAGR) of 7.93% and is expected to reach to USD 1.2 trillion, by 2025.
2. Research and development activities among market players can provide major business opportunities
Key players in the market are focused on research and development activities, in order to expand the product portfolio. For instance, in December 2013, ABB Ltd. launched Relion REF615R feeder IED. It is designed to upgrade its DPU2000R relay in the distribution automation segment. Furthermore, in February 2014, Advantech Co., Ltd. introduced new Fanless Embedded PC series ARK-3500 and ARK-3510. In January 2014, Atmel Corporation launched high performance and ultra-high power sensors in its SAM G family.