Rapid technological advancements and policy support, the digitalization of economies, and the increasing disposable income of the middle-class population are among the factors enabling the economic transition from the developing to the developed phase. These factors are also driving the growth of the human machine interface market in Asia-Pacific.
Key Players:
ABB Ltd,General Electric Company,Honeywell International Inc.,Rockwell Automation, Inc.,Schneider Electric SE,Siemens AG,Yokogawa Electric Corporation,Kontron S&T AG,Mitsubishi Electric Corporation,Advantech Co. Ltd.
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Based on end-user industry, the general manufacturing segment held the largest share of the Asia-Pacific human machine interface market in 2019, and it is expected to continue its dominance from 2020 to 2027.General manufacturing owing to its considerably large industry verticals along with significant scope of application for different HMIs has contributed significantly in its leading market share in terms of revenue. Moreover, the large-scale adoption of SCADA and distributed control systems also has fueled the adoption of human machine interface in numerous manufacturing industries.
The human machine interface market in Asia-Pacific is expected to grow from US$ 1,139.1Mn in 2019 to US$ 2,535.1 Mn by 2027; it is estimated to grow at a CAGR of 10.7% during 2020?2027.
The overall Asia-Pacific human machine interface market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the human machine interfacemarket with respects to all the segments. It also provides the overview and forecast for the market based on the segments pertaining to the Asia Pacific human machine interface market.
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Competitive scenario:
The study assesses factors such as segmentation, description, and applications of Asia-Pacific Human Machine Interface industries. It derives accurate insights to give a holistic view of the dynamic features of the business, including shares, profit generation, thereby directing focus on the critical aspects of the business.
Major highlights of the report:
• An all-inclusive evaluation of the parent market
• The evolution of significant market aspects
• Industry-wide investigation of market segments
• Assessment of the market value and volume in the past, present, and forecast years
• Market share evaluation
• Study of niche industrial sectors
• Tactical approaches of the market leaders
• Lucrative strategies to help companies strengthen their position in the market.
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Sameer Joshi
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