According to a new market report published by Credence Research Inc “HMI Display Panels Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2025,” the HMI display panels market is predicted to reach US$ 3.5 Bn by 2025, with growing industrial automation and competition among manufacturing industries across the world.
The global HMI display panels market is strongly driven by demand from the industrial manufacturing sector that has witnessed resurgence after few years of slowdown. The industrial sector and production had witnessed sluggish growth, especially in developed markets like North America and Europe due to economic instability during economic recession. However, after the period of lull, the industrial production has regained momentum driving investments.
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On the other hand, Asia Pacific continues to witness profound industrial growth. The markets including China, India, and Southeast Asia have experienced consistent growth in industrial production. This, coupled with growing need for intuitive and easy-to-use interface for handling complex machineries is expected to stimulate demand for industrial automation systems including HMIs in these economies. Further rise in the industrial sector and the ongoing advancements in manufacturing sector is estimated to generate steady demand for automation solutions such as HMI in the coming years. For instance, the ‘Make in India’ initiative launched by the government of India is predicted to turn the nation into next major manufacturing hub in the world. The campaign is expected to propel the demand for industrial automation and machine tools during the forecast period.
Based on product type, the HMI display panels market is classified into basic HMI panels, advanced HMI panels, industrial panel PCs and monitors. Basic HMI panels accounted for the largest volume shipments in the global market in 2016. However, advanced HMI panels are expected to witness fastest growth throughout the forecast period 2017 – 2025. Advance HMI panel is equipped with more features and functionality than basic HMI panels. Advance HMI panel is applied for demanding applications and large quantity scaling. This HMI panel has enhanced data handling features and offers reliable performance for critical applications in a manufacturing industry. Advance HMI panel is available in a wide range and with options for stationary and mobile control panels. With high-performance visualization, advanced HMI panels offer high performance, functionality and numerous integrated interfaces making it more convenient to interact with the machines and PCs. In addition, advanced HMI panels also offer a rugged construction in order to withstand manufacturing environment. Consequently, due to the aforementioned merits, the demand for the advanced HMI panels is expected to grow consistently throughout the forecast period.
The key players of HMI display panels market include, ABB Ltd, Omron Corp, Beijer Electronics AB, Texas Instruments, Delta Electronics, Inc, Rockwell Automation, Inc., Parker Hannifin Corp, Advantech Co., Ltd, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Yokogawa Corporation, General Electric Co, Kontron AG, Maple Systems, Inc, Eaton Corp and UniMAT Automation Technology Co., Ltd. High market competition is observed among the major players of HMI display panel manufacturers. International manufacturers are facing challenges from low cost manufacturers from China and other Asian countries.