HMI market to reach $3.6B revenue by 2018: Frost & Sullivan
April 26, 2015 by Manufacturing AUTOMATION
Apr. 26, 2015 – New analysis from Frost & Sullivan, Global Human Machine Interface Market, finds that the human machine interface (HMI) market earned revenues of $2.94 billion in 2014 and estimates this to reach $3.60 billion in 2018.
“The development of Industrie 4.0 in Europe and Smart Factory in the United States will create a future for the manufacturing sector wrapped around the convergence of applications,” said Guru Mahesh, industrial automation and process control research analyst. “As a result, the need to constantly innovate and reinvent components will propel the uptake of HMI in discrete sectors.”
Unlike discrete industries, process industries such as chemicals, food and oil can get by with basic automation solutions for production in bulk quantities – hence, advanced HMI solutions have found restricted use in the process sector, noted Frost & Sullivan.
“Real-time intelligence and big data analytics are expected to revolutionize the HMI space,” said Mahesh. “To capitalize on these opportunities, HMI vendors must meet the demand for innovative features and value-added services from end users in the global market.”