Market Definition
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 expanding substantially across India.
HMI devices are used 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 into the mechanical progress & performance.
Market Insights & Analysis: India Human Machine Interface (HMI) Market (2023-28)
The India Human Machine Interface (HMI) Market is projected to grow at a CAGR of around 8.50% during the forecast period, i.e., 2023-28. 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 production plants. Moreover, with the integration of logical software into HMI devices, the overall productivity of the processing manufacturing industries has spurred in recent years, primarily due to precise monitoring. Moreover, substituting conventional buttons, indicator lights, & selectors with new HMIs helps reduce operating costs and the need for additional display panels & cables. Besides digitalization, HTML5, & the Industrial Internet of Things (IIOT), enabling end-users to use new software programs hassle-free and optimally monitor equipment has called for more expansion of the market in the past few years.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 8.50% |
| 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 |
Further, due to the sudden imposition of lockdowns & stringent movement restrictions during the outbreak of the Covid-19, the market underwent substantial disruptions & financial loss. The limitations on transportation & logistics further hampered the supply chain, as India imports most of the raw materials required for HMI from China. With this, the market faced delays & project cancellations and a severe decline in production & sales. Consequently, the sales of prominent electronic companies were also affected and observed fluctuations in the prices. However, with the upliftment of trade restrictions & recommencement of production plants, the market is projected to regain its momentum gradually and generate lucrative growth opportunities for the market leaders in the forecast period.
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Market Segmentation
Based on End-User:
Here, the Discrete Industry is anticipated to hold a significant market share in the coming years, with the Automotive sector holding a prominent share. It is principally because 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. For instance,
In June 2O22, the German firm Behr-Hella Thermocontrol GmbH (BHTC), a global leader in automotive displays/human-machine interface (HMI) solutions and climate control and thermal management, inaugurated its upgraded and fully integrated manufacturing facility in Pune. The facility seeks to sate the emerging global as well as domestic needs of customers.
Based on Offering:
Of them all, 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. Further, the demand for Advanced PC-Based HMI devices is significantly higher than other types due to the superior versatility & flexibility they offer. As software becomes 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, as a result, easily manage complex tasks. Moreover, they also offer real-time data acquisition and better visual representation of a control system. Backed by such aspects, the market is likely to expand in the forthcoming years.
Recent Developments in the India Human Machine Interface (HMI) Market
Market Dynamics
Key Driver: Increasing Industrial Automation Drives Market Growth
The growing automation industry in developing nations drives the market size. Technological innovations such as fuel-efficient cars, electric cars, increasing competition in the market, and the automobile are some of the prime factors expected to drive the India Human Machine Interface (HMI) Market. Constant upgradation of software and control systems to operate & monitor further highlights the need for the HMI.
Moreover, HMI is a crucial part of the automation industry that improves industrial controls. Industrial factories and control automation devices are implementing to reduce human interaction in product development and services. Thus, a reduction in labor and manufacturing costs is helping to increase HMI production.
Possible Restraint: Lack of Standardization for Machine Design & Process Interface
The insufficiency of standardization for machine design & process interface has pushed the market downward in recent years. Further, the scarcity of skilled professionals and lack of technical know-how regarding HMI device usage are other factors impeding the market growth. Other than this, higher costs associated with the installation of HMI systems paired with risks of cyber security threats with cloud-based HMI devices are likely to hinder the market enlargement in the forecast period.
Growth Opportunities: The Emergence of Dynamic HMI for Electric Vehicles
In an attempt to enhance EV efficiency in terms of energy consumption and range distance, the Dynamic HMI for Electric Vehicles has been introduced. Because of its ability to adapt itself to system needs or users and changes dynamically based on the EV battery State of Charge or reachability of the desired endpoint, the interface has gained traction in recent years. HMI integration here primarily addresses range anxiety phenomena, the prime reason why users still prefer conventional vehicles with the internal combustion engine to EVs. Perhaps, it is why concept cars & EVs (Electric Vehicles) are emerging as remunerative opportunities for the market players in the coming years.
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Frequently Asked Questions
A. The India Human Machine Interface (HMI) Market is projected to grow at a CAGR of around 8.50% during 2023-28.
A. Digitalization, HTML5, & Industrial Internet of Things (IIOT) enabling end-users to use new software programs hassle-free and optimally monitor equipment are the aspects driving the India Human Machine Interface (HMI) Market during 2023-28.
A. The top players in the 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, Titan Engineering & Automation Ltd. (TEAL).
A. Hardware is anticipated to emerge as an area of remunerative opportunities for the leading players in the India Human Machine Interface (HMI) Market during the forecast period.
A. The emergence of dynamic HMI for electric vehicles provide lucrative prospects for the market in the years ahead.
A. Lack of standardization for machine design & process interface is one of the restraints affecting the growth of the India Human Machine Interface (HMI) Market during 2023-28.
