Global Smart Pneumatics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Smart Pneumatics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart pneumatics market report has been segmented on the basis of component, type, end use industry, and region.
Global Smart Pneumatics Market: Overview
Smart pneumatics are type of pneumatic equipments used for providing real-time data at the same time of while operation occurs.
Global Smart Pneumatics Market: Dynamics
Smart pneumatics provides reliable information with physical coefficient of actuators. This system helps to reduces risk of machine down-time and lowers the operational cost. These are some of the major factors driving growth of the global smart pneumatics market. In addition, smart pneumatics improves energy efficiency of equipments is another factor supporting growth of the global market. Growing digitalization of internet of things application in industries is a factor fueling growth of the target market. Furthermore, growing wireless infrastructure for monitoring and maintenance of a plant is a factor expected to support growth of the global smart pneumatics market over the forecast period.
However, lack of government policies and standardization in smart pneumatics is a factor that may hamper growth of the global smart pneumatics market. In addition, availability of duplicate technology in low cost is a challenging factor that could affect growth of the global market. Nevertheless, usage of smart pneumatics with upcoming technologies such as machine learning and artificial intelligence can create high revenue opportunities for players in the target market.
Global Smart Pneumatics Market: Segment Analysis
Among the type segments, the valve segment accounted for significant share in terms of revenue and anticipated to maintain its dominance in the near future. Vales provides operational feedback to the controller. They operate along the sensors and other electronic equipments. Increasing adoption of smart vales in various industries to reduce cost of energy is a fueling growth of this segment in the target market.
Among the end use industry segments, the automotive segment is expected to register high growth in terms of revenue over the forecast period. Increasing adoption of smart pneumatics to improve efficiency in manufacturing process in automotive industry is a factor driving growth of the automotive segment in the global market. in addition, increasing adoption of industrial internet of things application is another factor supporting growth of this segment.
Global Smart Pneumatics Market: Regional Analysis
Market in Asia Pacific accounts for major share in terms of revenue and is expected to maintain its position over the forecast period. Increasing demand for smart pneumatics and importance of quality control in semiconductor, chemical, automotive and various other industries are factors driving growth of the target market in this region. In addition, ongoing forth industrial revolution is another factor propelling growth of the target market, especially in emerging economies in this region. Market in North America is anticipated to account for second-highest share in terms of revenue over the forecast period, followed by Europe. Increasing usage of advanced manufacturing tech techniques and technologically advanced automation technology are factors fueling growth of the smart pneumatics market in North America region.
Global Smart Pneumatics Market Segmentation:
Segmentation by component:
Segmentation by type:
Segmentation by end use industry:
- Food and Beverage
- Oil and Gas
- Water and Wastewater
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Emerson Electric Co.
- Festo AG & Co. KG
- Parker-Hannifin Corporation
- Bimba Manufacturing Company, Inc.
- Rotork plc
- Metso Corporation
- Thomson Industries, Inc.
- Advanced Pneumatics Company, Inc.
- Basso Industry Corp.
- Bosch Rexroth AG
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