A Human-Machine Interface (HMI) is a user interface that creates a medium to connect humans with a device, system, or machine for exchanging information among users & devices. Owing to the mounting inclination toward automation & digitalization, the need for HMI is booming substantially across India.
HMI devices are used most extensively in industrial applications for several purposes like tracking production time/trends/tags, visually displaying information, monitoring machine inputs & outputs, etc. Besides, these systems have multiple forms ranging from built-in screens & tablets to computer monitors, etc., and all aim to provide insights on the mechanical progress & performance.
According to MarkNtel Advisors, the India Human Machine Interface (HMI) Market is projected to grow at a CAGR of around 8.50% during the forecast period, i.e., 2022-27. The market is driven principally by the mounting demand for Human Machine Interface (HMI) devices across various industries like automotive, mining, oil & gas, and others to efficiently monitor the production plants. Moreover, with the integration of logical software into HMI devices, the overall productivity of the processing manufacturing industries have spurred in recent years, mainly due to precise monitoring.
Recently, Rockwell Automation, in collaboration with CNBC TV 18 & Money Control, hosted "India Inc. on the Move," with the theme "Innovate Your Future." It underscored the adoption of Industrial IoT & decoding the potential of Smart manufacturing to help India become the Global Manufacturing Hub.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Key Companies Profiled||Schneider Electric India, General Electricals Automation India, Rockwell Automation, Siemens, Honeywell Automation India Ltd., ABB India Ltd., Voltas Ltd., L&T Electrical Automation, Titan Engineering & Automation Ltd. (TEAL))|
|Unit Denominations||USD Million/Billion|
Covid-19 Severely Impacted the India Human Machine Interface (HMI) Market
Based on the End Users, the India Human Machine Interface (HMI) Market segments into:
Of them all, the Automotive sector is anticipated to hold a significant market share in the coming years since India is undergoing a massive technological shift, owing to the increasing number of product launches like advanced infotainment systems by Original Equipment Manufacturers (OEMs). As a result, the sales of vehicles equipped with HMI devices & ADAS (Advanced Driver Assistance System) are surging substantially due to the mounting need for convenience, safety & security, & comfort.
Hardware to Attain the Highest Share of the India Human Machine Interface (HMI) Market
On the other hand, based on Offering, Hardware is projected to acquire the highest market share in the coming years, primarily due to the extensive application of HMI devices across discrete end-users like automotive, aerospace & defense, packaging, medical devices, etc. The Hardware segment further bifurcates into:
Here, the demand for Advanced PC-Based HMI devices is significantly higher than other types due to the superior versatility & flexibility they offer. As software is becoming more complex each day, enhanced innovations are required to make optimum use. Unlike conventional HMIs, Panel-PCs can locally store data & have high computing power, and thus, easily manage complex tasks. Moreover, they also offer real-time data acquisition and better visual representation of a control system.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The India Human Machine Interface (HMI) Market is projected to grow at a CAGR of around 8.50% in the forecast period of 2022-27.
A. Hardware-based HMI devices is expected to attain the significant share of the India Human Machine Interface (HMI) Market and emerge as an area of lucrative opportunities for the industry leaders.
A. The advent of Electric Vehicles (EVs) & concept cars, coupled with the integration of Holistic & Adaptive HMI are the prime aspects anticipated to drive the India Human Machine Interface (HMI) Market through 2027.
A. The gradual upliftment of restrictions post the decline in Covid-19 cases has led to the revival of HMI device production, due to which the market is expected to witness slow growth in the coming years.