Growing trend towards protocol blister packing welding machine conversion to exchange data between all connected devices is estimated to further catalyze human machine interface industry growth. Technological development such as open platform architecture resulting in improvement of the migration process is also anticipated to fuel demand considerably over the forecast period.

High upfront capital and need for change in business process to integrate HMIs are key challenges anticipated to impact the industry. In addition, lack of skilled professionals and awareness on HMIs among management and lower level executives may also pose a challenge to market growth over the coming years.

Interface software market accounted for substantial revenue share in 2014. The segment is also anticipated to exhibit high growth with an estimated CAGR exceeding 10% over the next few years. This may be attributed to the increasing adoption of PC- based open source monitoring and controlling system worldwide.

Development of new and innovative displays along with emergence of industrial internet of things may contribute towards further growth in the display terminal segment.

Oil & gas emerged as the dominant application and accounted for over 20% of the overall revenue in 2014. This may be attributed to increasing demand from the oil & gas sector owing to the benefits offered by HMI regarding the flow of information inside a pipeline without updated monitoring capabilities for overcoming a particular problem.

HMI offers several benefits regarding driver safety and security by integrating solutions such as ADAS, ACC and LDW, which are expected to drive demand in the automotive industry.