Human Machine Interface Market to Touch Worth of US$11 Bn by 2024 End, Growing Adoption of Automation In Various End-Use Industries bolsters Uptake
The global human machine interface (HMI) market features an increasingly competitive landscape, finds Transparency Market Research (TMR). The landscape is characterized by high level of rivalry among the top players, mainly on account of increasing trend of consolidation. The five top players, namely, Schneider Electric SE, ABB Ltd., Eaton Corp., Rockwell Automation Inc., and Siemens AG, accounted for a major share of 45.0% in the global human machine interface market. Several prominent players are expected to increasingly focus on integration of infrastructure with technology advancements, with the key aim to bolster their positions in the global human machine interface market. Numerous players are also focusing on developing high-end technologies to consolidate their shares in the market. The global human machine interface market stood at US$3.9 bn in 2015 and is projected to clock a CAGR of 12.5% during 2016–2024. By the end of this forecast period, the opportu...