Europe HMI Market Size

Europe Human Machine Interface Market Analysis

The European human machine interface market is expected to register a CAGR of 8.5 % during the forecast period from 2020 to 2025. The transformation of HMI across Europe is due to the growth in the cognitive era, as well as the increasing AI penetration, which is expected to create opportunities for the growth of the market. The European Commission unveiled a plan to invest EUR 20 billion, to boost its investment in artificial intelligence by about 70%, by 2020. The commission intends to keep pace with Asia-Pacific and the United States, which are investing at least three times more than Europe.

• Along with these investments in AI, the cognitive era is expanding its reach across the region. Thus, with the increasing demand for AI and cognitive computing, companies are increasingly investing in cognitive technologies. For instance, IBM announced plans to expand its new global headquarters and build a research laboratory that is likely to develop Watson-based applications for web-connected devices in Munich. This facility and eight other global centers are a part of a USD 3 billion investment earmarked by IBM.
• The most prominent trend in Europe, driving the HMI application, is due to the surging demand for automation and control systems, which compels the growth of the regional process automation industries. This is attributed to the crucial role of digitization in modernizing the European process industry, as reported by the European Commission.
• Furthermore, the European industries have also been increasingly embracing robot technologies for automating their existing processes. This emergence has paved the way for the development of robotic process automation (RPA). As HMI aids RPA in the automation of business workflows through operational processes, thereby emulating the human interaction within a graphical user interface (GUI), the rising adoption of RPA is expected to expand the growth of the market during the forecast period.
• Besides, industrial process automation plays a pivotal role in the region, as several European companies are global leaders in terms of the development, supply, and usage of systems and applications. For instance, ABB is the world leader in this sector, followed by Siemens and Schneider Electric. Moreover, with a robot density level of 301 industrial robots per 10,000 employees, Germany has the highest robot density level in Europe and ranks fourth across the world.
• The outbreak of COVID-19 is expected to influence the global industrial spending significantly over the coming years, as the non-operational status of various industries deemed non-essential by governments across the world are facing huge losses which are expected to influence their tech spending till the end of 2021 (assumptions are based on the current pandemic scenario). The energy sector in the region is also impacted by the adverse effects of the COVID-19 situation. With the shut down of industries across the region, energy consumption is expected to fall significantly. With the region's share of renewable energy generation, the facilities are expected to see logistical delays, and delays in project development.