The India Human Machine Interface (HMI) Market is projected to witness around 8.50% CAGR during 2023-28, says MarkNtel Advisors in their research report. The market is driven principally by the rapidly increasing trend of industrial digitalization, advent of connected cars in India, coupled with the introduction of new technological & strategic advancements like HTML5 & Industrial IoT across several process & discrete manufacturing industries.
The utilization of IIOT & HTML5 allows end-user verticals to attain more convenience & flexibility in monitoring, visualizing, & analyzing industrial equipment & machinery. Moreover, HMI offering various benefits like lower operational costs, easy access to data, better data security & retrieve ability are other crucial aspects driving the market.
Nonetheless, the increasing use of HMIs across the manufacturing industries for better machine-user communication is also projected to create lucrative growth opportunities for the market players in the coming years, further states the research report, “India Human Machine Interface (HMI) Market Analysis, 2023.”
Based on End Users, the India Human Machine Interface (HMI) Market segments into:
Of them all, the Automotive sector is projected to hold a significant market share in the coming years. It owes to the capabilities of HMI in assisting drivers with 360-degree surround-view parking, notifying them if they’re distracted, enhancing their safety while interacting with other vehicles, etc.
Other aspects like the booming demand for connected technology and the low cost of HMI software are also driving the market across the automotive sector. Besides, several premium OEMs in India offer display audio or navigation systems as a standard feature in their products, and many others are rapidly shifting toward providing the same.
Moreover, the integration of large screens in vehicles with the smartphone & navigation support has almost replaced the conventional radio units. Hence, all these aspects indicate that the automotive sector holds immense growth opportunities for the market in the coming years.
Rockwell Automation Significantly Contributes to India Human Machine Interface (HMI) Market Growth through 2028
Among the leading market players, Rockwell Automation is one of the largest companies that offer power control, industrial automation, & information solutions. The company's Human Machine Interface (HMI) systems allow end-users to develop innovative products, enhance overall productivity, and gain an edge over others.
Recently, at the summit, 'India Inc. On the Move,' the leader, in partnership with Money Control & CNBC TV 18, cited different ways India can embrace Industrial IoT and decode the possible layouts on the smart manufacturing ecosystem to become the global leader in manufacturing.
Moreover, it also emphasized exploring Big Data, IoT, Artificial Intelligence, etc., while digitalizing India's manufacturing sector. Moreover, with the burgeoning need to adopt Industry 4.0, automation & its utilization across different verticals will play a crucial role in enhancing the country's manufacturing expertise, reveals MarkNtel Advisors in their research report, "India Human Machine Interface (HMI) Market Analysis, 2023."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the India Human Machine Interface (HMI) Market are Schneider Electric India, General Electricals Automation India, Rockwell Automation, Siemens, Honeywell Automation India Ltd., ABB India Ltd., Voltas Ltd., L&T Electrical Automation, and Titan Engineering & Automation Ltd. (TEAL).
Key Questions Answered in the Study