ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has announced the release of a report titled “Human Machine Interface (HMI) Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019”.
This report states that the global human machine interface market is expected to grow at a CAGR of 10.4% between 2013 and 2019, thereby reaching a market value worth US$5579 million by 2019.
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The global human machine interface (HMI) market is driven by an increasing demand for efficiency and mobility, growth in industrial automation, and positive outlook of Asia Pacific manufacturing industries. HMI technology is used in industrial automation for managing large volumes of data application. The global HMI market is segmented on the basis of product type, applications, and geography. The different types of HMI devices include resistive, capacitative, near-field imaging, and infrared and dispersive signal touchscreen HMIs. The various application areas include the oil and gas, automotive, pharmaceutical, packaging, metals and mining, defense, food and beverages, and aerospace industries.
Geographically, the global HMI market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Currently, this market is dominated by the region of North America. Rising GDP and recovery from economic slowdown are the main factors driving the North America HMI market.
However, it is anticipated that the Asia Pacific HMI market will witness the highest rate of growth in the forthcoming years owing to rapidly growing economies like India, South Korea, Indonesia, and China, and the growth of automation industries in these regions. The global HMI market is characterized by intense competition amongst the market players. Companies in the global HMI market are ABB Ltd., Advantech Co., Ltd., and Beijer Electronics, Inc.
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Transparency Market Research is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.