Keypad HMI Displays Market Size, Share, Growth, and Industry Analysis, By Type (LED, LCD, and Other), By Application (Electronics, Machinery & Equipment, and Other), Regional Insights and Forecast to 2031

Updated On: 29 April 2024

Keypad HMI Displays Market Report Overview

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The global keypad HMI displays market size was USD 991.21 million in 2022. As per our research, the market is expected to reach USD 1265.64 million in 2028, exhibiting a CAGR of 4.16% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the keypad HMI displays market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Keypad HMI (Human-Machine Interface) displays are user interface devices commonly used in industrial and commercial applications to facilitate interaction between humans and machines. These displays typically consist of a screen or panel that provides visual information and a keypad or keyboard for input. 

Furthermore, keypad HMI displays find extensive use in various sectors, including manufacturing, automotive, electronics, machinery and equipment, and more. They play a vital role in improving human-machine interaction. It enhances productivity, and ensure the efficient operation of complex systems and processes. As technology continues to develop, keypad HMI displays are likely to evolve with features such as touch screens, advanced graphics, wireless connectivity, and integration with IoT platforms to meet the growing demands of modern industries.

COVID-19 Impact: Closure of Factories and Logistics Challenges Decreased the Market Growth

The disruption in the global supply chain due to the COVID-19 pandemic halted the growth of the keypad HMI display market. The lockdown limitations caused factory closures, logistics challenges, and material shortages which delayed in production and delivery of HMI displays. This resulted in the decreased demand for these displays in the market throughout the outbreak. However, after the end of the pandemic, the market started to recover and witnessed a significant growth in the demand and supply for displays due to continuous advancement in the HMI LED and LCD displays worldwide. 

Latest Trends

"Integration with IoT Expands Market Evolution "

The market for keypad HMI displays is constantly expanding with the evolving trends in technological developments. The trend of integration with IoT for enhanced automation, and larger and high-resolution displays is boosting the demand for HMI displays among key application industries. Also,

These displays are being continually transformed, driven by innovations in touch-sensitive keypads and delivering heightened durability and responsiveness. Furthermore, the integration with cutting-edge HMI software and seamless cloud connectivity enables remote monitoring and control of industrial processes. Consequently, as industries strive to enhance human-machine interaction and streamline their operations, keypad HMI displays are predicted to occupy a vital role in offering intuitive and efficient control interfaces for a diverse range of industrial and commercial applications which will likely expand the market scope.  

Keypad HMI Displays Market Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into LED, LCD, and Other.

• By Application Analysis

Based on application, the market can be divided into electronics, machinery & equipment, and other.

Driving Factors

"Increased Automation in Industries to Spur the Demand for Market"

With regard to driving factors, the increasing adoption of automation in various industries, such as manufacturing, automotive, and electronics is expected to surge the demand for the keypad HMI displays. As industries aim to improve efficiency and reduce manual intervention, HMI displays become essential for control and monitoring which is anticipated to aid the keypad HMI displays market growth during this forecast. 

"Rapidly Growing Technological Advancement to Encourage Market Development "

Furthermore, the market is also experiencing a significant growth rate due to ongoing advancements in display technology which is one of the key driving factors. In addition, touch-sensitive keypads, and software interfaces are also expected to lead to more sophisticated and user-friendly HMI displays. As well as enhanced features such as multi-touch screens, gesture recognition, and high-resolution displays are also projected to contribute to market growth.

Restraining Factors

"High Costs of Display to Restrict Market Expansion"

However, the high cost of these displays can be a restraining factor for the growth of the market. Because the initial investment required for implementing keypad HMI display solutions to have hardware and software integration, can be substantial. As a result, this cost can be a barrier for small and medium-sized businesses or industries with budget constraints.

Keypad HMI Displays Market Regional Insights

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"Asia Pacific to Lead the Market owing to Robust Manufacturing Sectors of Electronic Devices"

As per this forecast, the Asia-Pacific region is projected to dominate the market with substantial keypad HMI displays market shares. Countries such as China, Korea, and Japan play a significant role in the region’s leading position. The presence of key players such as Omron, Mitsubishi, and others in the region is likely to expand the market scope. Additionally, China is expected to gain significant market shares due to its robust manufacturing sectors of electronics and electrical devices equipped with LED and LCD displays which are the leading segment of the market. 

KEY INDUSTRY PLAYERS

"Key Companies Collaborate with System Integrators and Software Providers to Extend Market Reach"

Key players secure the highest profit revenue by using strategies for instance product differentiation, cost management, premium pricing, and market segmentation to enhance their offerings and command higher prices. Also, they focus on customer retention, diversification, and innovation while embracing digital transformation and strategic partnerships to tap into new markets and technologies. Moreover, the leading companies continually adapt to changing market dynamics and ensure operational efficiency and a superior customer experience to maximize profitability.

List of Market Players Profiled

• Omron (Japan)
• Eaton (Ireland)
• Siemens (Germany)
• Mitsubishi (Japan)
• Schneider Electric (France)
• Beijer Electronics (Sweden) 
• Allen Bradley (U.S.)
• Crouzet (France)
• Phoenix Contact (Germany)
• ABB (Switzerland)

Report Coverage

This report defines the keypad HMI displays market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.