Touch Based Human Interface Market Is Estimated to Cross $32 Billion Mark by 2020!
Touch Based Human Interface Market shall most probably touch and cross the $32 Billion Mark during the forecast period 2015-2020
Hamilton, NY, January 20, 2016 (Newswire.com) - The Internet of Things (IoT) is now also outreaching the Touch Based Human Interface Machine, which is an instinctive programming interface that allows operators to make efficient decisions and establish fast communication network. These have turned out to be an efficient solution for automation for a wide range of Applications in manufacturing, digital signage, automotive, aerospace, retail and so on.
MARKET TRENDS & MARKET GROWTH:
The growth in the Touch Based Human Interface Market can be attributed to the increase in demand for the connected products and the high standards set by the industries to meet the production target.
According to the latest market research report by IndustryARC, the Touch Based Human Interface Market shall most probably touch and cross the $32 Billion Mark during the forecast period 2015-2020. The experts also estimate that the market will grow at a 26.7% CAGR during the same years. The major source in terms of application, to which the success of the market will owe to, is the demand from Factory and Building Automation Applications.
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Touch based HMI are one of the emerging technologies and is all set to take a significant shift in all the leading end user industry verticals. As discussed earlier, the technological advancements in the field of automation has been and is continuing to be a platform for the growth and development of the HMI Market. The evolution of touch screen technology is another market segment which delivers new range of control function modules across all industrial applications both in industrial and commercial sector. The product has gained more adaptation in the commercial sector apart from its existing broad range of applications in industrial automation. In industry applications, touch based applications are basically used as operator panels, control and monitoring devices and industrial PCs. Commercial sector is set to bloom further well in the future.
Japan being one of the technology advanced nations is a big market for touch screen HMIs and is currently using these devices across all sorts of industry verticals at a higher scale. Australia and New Zealand are the mature markets but the touch based HMIs shipments are projected to surge as the countries are shifting towards more automated and advanced military equipment.
Owing to the presence of large number of developing and striving markets in the APAC, this region is projected to witness the highest growth rate as compared to the other regions during the observation period with respect to the former market. China, India and South East Asia countries are speculated to make huge investments in the automation sector by 2018 to equip their manufacturing and industrial plants with automated solutions to improvise the production process and achieve set targets.
Market Driving Factors:
· Commercial sector with a broad range of application in retail, branding, advertising and for promotional activities shall be propelled.
· The use of digital signage, Point of Sale (PoS), interactive kiosks is perceived to propel in the coming years on the back of the initiatives towards a digitized world.
Restraints: The price of the advanced software for data visualization and interpretation could pose threat to the adaptation of the touch screen HMI devices. However, the functions performed by these HMIs and the ability of these devices to cut short time and to bring down the operating expenses will certainly overpower the constraints and challenges for the touch screen HMI market.
REPORT SCOPE: Market Segmentation:
Touch Based Human Machine Interface Market is segmented into 5 broad types with further classifications. Broad factors being:
1. By Touch Screen Type: Resistive, Capacitive, Surface Acoustic Wave and Infrared.
2. By Components: Microprocessors, Microcontroller, PLC, Push Buttons, Display Interface and Others.
3. By Function Modules: Control & Monitoring System, Display Monitors and Others.
4. By End User Application: Factory Automation, Automotive, Retail, Oil & Gas, Aerospace & Defense and Others.
5. By Geography: Americas, Europe, APAC and ROW.
This market has been lucky to enjoy growing number of investors day by day. The industry is going to be propelled by the curiosity and need for improvised living styles. Few notable competitors studied, analyzed and involved in this market report are:
· Siemens AG
· Schneider Electric SE
· General Electric
· ABB Ltd
· Fuji Electronics Co., Ltd.
· Mitsubishi Electric Corporation
· Omron Corporation
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