1 / 6

Attractive Opportunities in Global Smart Pneumatics Market: Rise of Industrial IoT & Industry 4.0

The overall smart pneumatics market is estimated to grow from USD 3.3 billion in 2018 to USD 4.6 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. The growth of this market will be propelled by growing awareness about predictive maintenance, penetration of digitization and IIoT, and need for wireless infrastructure to maintain/monitor equipment in plants.

robertemma27
Download Presentation

Attractive Opportunities in Global Smart Pneumatics Market: Rise of Industrial IoT & Industry 4.0

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MarketsandMarkets Presents Attractive Opportunities in Global Smart Pneumatics Market: Rise of Industrial IoT & Industry 4.0 Smart Pneumatics Market by Component (Hardware, Software, and Services), Type (Valves, Actuators, and Modules), Industries (Automotive, Semiconductor, Food & Beverage, Water & Wastewater, Oil & Gas), and Geography - Global Forecast to 2023 https://www.marketsandmarkets.com/Market-Reports/smart-pneumatics-market-113755556.html

  2. The overall smart pneumatics market is estimated to grow from USD 3.3 billion in 2018 to USD 4.6 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. The growth of this market will be propelled by growing awareness about predictive maintenance, penetration of digitization and IIoT, and need for wireless infrastructure to maintain/monitor equipment in plants. The use of IIoT for condition monitoring and predictive maintenance can help ensure high uptime of critical assets, particularly those that have random failure patterns. Browse 30 market data Tables and 38 Figures spread through 114 Pages and in-depth TOC on "Smart Pneumatics Market - Global Forecast to 2023" Key Market Players Emerson Electric Co. (US), Festo AG & Co. KG (Germany), Parker Hannifin Corporation (US), Bimba Manufacturing Co. (US), Rotork plc (UK), Metso Corporation (Finland), and Thomson Industries, Inc. (US). are the major players operating in this market.

  3. Market for smart pneumatic actuators is expected to grow at a higher rate during the forecast period The report covers the smart pneumatics market segmented by component, type, industry, and geographic region. The smart pneumatic actuators segment is expected to hold the largest share of the market by 2023. Smart pneumatic actuators use sensors and other electronics to provide operational feedback (such as speed, force, end-of-travel, stroke length, and cycle time) to controllers. The collected data enable condition monitoring to determine if an actuator is performing as intended. Beside pneumatic valves and actuators, the market also includes modules or platforms that are used to monitor the operation and efficiency of a system. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=113755556 Software and services component to witness the highest CAGR during the forecast period In the smart pneumatics market, the software and services segment is expected to grow at the highest growth rate during the forecast period. Software is an essential part of a smart pneumatic system; the raw data extracted via hardware components is collected, processed, and analyzed by software. A variety of software solutions are available in the market, working on different technologies but mostly featuring some common functions, such as data integration, diagnostic reporting, order tracking analysis, and parameter calculation.

  4. Automotive industry accounted for the largest market share during forecast period The automotive industry accounted for the largest share of the smart pneumatics market in 2018. The global automotive industry is witnessing significant growth in the number of units produced per day. The machinery on the production floor needs proper maintenance to shorten production cycles and increase production output. Smart pneumatic systems play a crucial role in ensuring efficient manufacturing processes. Automotive manufacturers are also adopting IIoT systems to increase energy efficiency and monitor asset condition. This is creating a huge potential for smart pneumatics in the automotive industry. Speak to Research Analysts: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=113755556 APAC to dominate the smart pneumatics market during forecast period APAC held the largest share of the smart pneumatics market in 2018. The growing adoption of smart manufacturing or Industry 4.0 in various industries is creating a huge demand for smart pneumatics in the region. Besides, factors like growing focus on optimum asset utilization; stringent government regulations for workplace and personal safety; and tight quality control in the automotive, semiconductor, chemicals, and food & beverages industries are driving the demand for smart pneumatic systems in APAC. Besides, North America is a mature market for industrial automation. The region leads in terms of advanced automation technology and the use of advanced manufacturing techniques. These factors contribute to the growth of the market in this region.

  5. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  6. Contact Us Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:newsletter@marketsandmarkets.com For More Info: https://www.marketsandmarkets.com/PressReleases/smart-pneumatics.asp

More Related