Overview
The Global HMI Software Market is expected to grow at 9.1% CAGR with USD 4,043.4 Million in value by 2025 during the forecast period, 2019–2025. In this report, Market Research Future (MRFR) includes the segmentation and market dynamics to offer a better glimpse of the market in the coming years.
Improved communication and the growing adoption of robots in industries are some of the factors responsible for the growth of the market during the forecast period. However, the high cost of implementation is a major challenge for the global HMI software market. The global HMI software market is dominated by a few major players, however, new players are expected to enter the market due to new revenue opportunities in regions such as Asia-Pacific, the Middle East and Africa, and South America. The entry of new players is expected to increase the competition in the market.
The global HMI software market holds significant growth opportunities owing to the introduction of a wearable human-machine interface which is expected to be more interactive and intuitive. Also, the use of innovative technologies such as artificial vision enables HMI devices to automatically perform measure, control, and classification functions.]
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Competitive Analysis
The Key Players in the Global HMI Software Market are General Electric, Rockwell Automation, Schneider Electric, Siemens, AdroIT Technologies, Beijer Electronics, Brainchild Electronic, B-Scada, COPA-DATA, Elipse Software, Inductive Automation, and National Instruments among others.
Segmental Analysis
The Global HMI Software Market has been segmented based on deployment, product type, configuration type, type, technology, end-user, and region.
Based on deployment, the market has been segmented into on-premise and cloud-based. The cloud-based segment accounted for the larger market share of 62.67% in 2018, with a market value of USD 1,411.6 Million; it is expected to register the highest CAGR of 9.5% during the forecast period. The on-premise segment was valued at USD 840.7 Million; it is projected to exhibit a CAGR of 9.1%.
Based on product type the market has been segmented into proprietary software, hardware-independent, and open-source software. The proprietary software segment is expected to have the largest market share. The open-source software segment is expected to exhibit the highest CAGR during the forecast period.
Based on the configuration type, the market has been segmented into proprietary stand-alone HMI and embedded HMI. The embedded HMI segment accounted for the larger market share of 67.3% in 2018, with a market value of USD 1,516.3 million; it is expected to register a higher CAGR of 9.4% during the forecast period. The stand-alone HMI segment was valued at USD 736.0 million; it is projected to exhibit a CAGR of 8.5%.
Based on type the market has been segmented into proprietary supervisory level HMI and machine-level HMI. The supervisory level HMI segment accounted for the larger market share of 65.0% in 2018, with a market value of USD 1,463.7 million; it is expected to register a CAGR of 8.9% during the forecast period. The machine-level HMI segment was valued at USD 486.4 million in 2018; it is projected to register a higher CAGR of 9.6%.
Based on technology the market has been segmented into optical, acoustic, bionic, tactile, and motion. The optical segment is expected to have the largest market share. The bionic segment is expected to register the highest CAGR during the forecast period.
Based on end-user the market has been segmented into oil and gas, energy and power, food and beverages, chemical, metals and mining, pharmaceutical, aerospace and defense, automotive, packaging, and semiconductor and electronics. The oil and gas segment accounted for the largest market share of 12.5% in 2018, with a market value of USD 281.5 million; it is expected to register a CAGR of 9.1% during the forecast period. The energy and power segment was the second-largest market in 2018, valued at USD 272.7 million; it is projected to exhibit a CAGR of 9.2%. However, the chemical segment is expected to register the highest CAGR of 9.5%.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is expected to maintain its dominance in the global HMI software market owing to the rapid advancements in digital technology and major investments in R&D for industrial automation, Industrial Internet of Things (IIoT) as well as cloud technology by the key players in the region. Whereas, the Asia-Pacific market is expected to advance at a fast pace during the forecast period. The growth of the market in this region can be attributed to the increasing adoption of HMI systems by the manufacturing firms and “Internet Plus” initiatives by the governments that encourage all industry verticals to adopt internet technologies and make the business operations smart.
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