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Research and Markets has announced the addition of the "Global Human Machine Interface Market 2016-2020"report to their offering.
The report forecasts the global HMI market to grow at a CAGR of 6.13% during the period 2016-2020.
An important trend driving market growth is the growing demand for smart factories. Manufacturing countries, such as China and Germany, are automating their factories to sustain business in the competitive market. This may enable precise communication and coordination in factories, and ensure flexible underlying processes. The manufacturing companies use sensors, robots, wireless systems, enterprise software, and automation solutions, such as DCS, PLC, and SCADA, to automate end-to-end processes. The process and discrete industries use these systems to identify the best industry practices and share information, data retrieval, and documentation.
According to the report, an increased focus on equipment and employee safety is making the use of HMI necessary in a working environment. Industries are making efforts to reduce industrial accidents due to process failure, which if not corrected may cause fatal injuries to employees and lead to financial loss, plant shutdown, or heavy refurbishing requirements.
In addition, the market has experienced a high number of litigations, as countries worldwide implement and enforce industrial safety measures and standards. The EU and other countries, such as the US, have formulated strict guidelines for various industries to improve the safety of operations and reduce emissions from facilities.
Further, the report states that every company is becoming increasingly vulnerable to cyberattacks due to an increased use of automated systems, including HMI.
