According to the latest report by IMARC Group, titled “Human Machine Interface Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global human machine interface market size is growing at a stable rate. Human machine interface (HMI) is a software application that connects an operator to the controller for an industrial system. It comprises hardware and software components that allow the human operator to control, monitor and collect data to generate results. It consists of various components, such as peripheral devices, motion sensors, speech-recognition interfaces and other devices that aid in the transmission of information through heat, sound, sight and touch. This application is now widely used across numerous industry verticals, including medical, military and electronics, for reducing the chances of errors and improving the overall efficiency of the system.
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Global Human Machine Interface Market Trends:
The global HMI market is primarily driven by the rising trend of automation across the globe. The increasing incorporation of automated and digitized systems in production facilities has created a demand for efficient monitoring solutions, along with an escalating need for enhanced internal communication and alarm warnings, which is expected to impact the market positively. Additionally, HMI is extensively utilized in the oil and gas sector as it aids in remote location monitoring irrespective of the climatic conditions or other challenges. It is also employed in the pharmaceutical industry, owing to the growing requirement of machinery that enables contamination-free production of medicines with minimum human contact. Apart from this, HMI also forms an indispensable part of the chemical industry for defect identification. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 7% during 2019-2024.
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Key Market Segmentation:
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