LONDON, April 24, 2015 /PRNewswire/ -- Human machine interface (HMI) solutions have made rapid strides in the last decade in step with changing customer demands. As the trend towards real-time factory intelligence gains widespread acceptance in industries, HMI software will continue to evolve. From merely providing plant data on a mobile device, HMI now delivers real-time data and actionable insights to operators. The consequent benefits, such as lower plant operation costs, higher process efficiency, and greater energy efficiency will power the adoption of HMI solutions.
New analysis from Frost & Sullivan, Global Human Machine Interface Market (https://www.frost.com/m9a9), finds that the market earned revenues of $2.94 billion in 2014 and estimates this to reach $3.60 billion in 2018.
For complimentary access to more information on this research, please visit: http://ow.ly/LTHlN
"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 Frost & Sullivan Industrial Automation and Process Control Research Analyst Guru Mahesh. "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.
While this trend continues to pervade several process industries, the food and beverage sector is gradually giving in to the allure of HMI solutions. Manufacturers in this increasingly competitive segment have understood that automation is critical in order to remain profitable. Likewise, growing awareness in other process sectors will open up new applications for HMI solutions.
"Real-time intelligence and big data analytics are expected to revolutionise the HMI space," noted Mahesh. "To capitalise on these opportunities, HMI vendors must meet the demand for innovative features and value-added services from end users in the global market."
Global Human Machine Interface Market is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: European Industrial Automation Services Market, European Industrial Services Opportunities in Electric Drives Market, Lifecycle Opportunities in the Global Retail Product Lifecycle Management (PLM) Market, Emerging Upstarts and Market Transitions in the Global Digital Oilfield Data Management Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Global Human Machine Interface Market
Corporate Communications – Europe
P: +7 (499) 213 0156
E: [email protected]
LinkedIn: Frost & Sullivan's Industrial Automation and Process Control Forum
SOURCE Frost & Sullivan