LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global human machine interface (HMI) software market to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global HMI software market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The global HMI software market is expected to witness a steady growth due to increasing demand from end-user industries for real-time monitoring and controlling functionality provided by systems. There is an increasing need for these applications in end-user industries, which will drive the demand for HMI software. The usage of analytics in industries to improve the efficiency, as well as design analytical models, is another reason for this growing demand.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global HMI software market:
Technological developments in HMI software
There are many developments and upgrading within the HMI software such as advancements in modules, which makes it easier for system integrated programming. Other developments include communication protocols that allow users to configure systems as per their requirements. This software helps in data logging and can be accessed with the help of cloud-based data storage or through serial ports.
Bharath Kanniappan, a lead automation research analyst at Technavio, says, “Due to the increase in usage of touch interface panels in HMI, there has been upgrading in the software, which provides a better user interface for touch panels. These advancements and developments are creating the demand for HMI software.”
Increasing need to improve process efficiency in manufacturing plants
One of the main reasons for implementing automation within manufacturing plants is to reduce the operational cost and increase the process efficiency. There are many vendors that offer customizable solutions for HMI software. There are also HMI devices that can run on third-party software, making it much easier for end-users to acquire these devices.
“HMI software helps in increasing the production efficiency and process visualization, which helps end-users in designing analytical models. It is very important for manufacturing plants to monitor and control each process, which makes process visualization and real-time data availability a necessity in plants,” adds Bharath.
Usage of analytics among end-user industries
The main purpose of using HMI solutions in manufacturing plants is to monitor and control process parameters and collect real-time data. HMI solutions aid in developing trend-charts with real-time data for analyzing the process, thereby developing a process and production plan. There is an increase in the usage of analytics among end-user industries as they aid in quantifying the status of plants and increase the visibility of process flow and parameters through data visualization. HMI software acts as a backbone for analytics with the help of real-time data available.
- General Electric
- Rockwell Automation
- Schneider Electric
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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