Smart Pneumatics Market: Segmented By Element (Hardware, Software and Services): By Type (Valves, Actuators, and Modules): By Industries (Automotive, Semiconductor, Food & Beverage, Water & Wastewater, Oil & Gas), and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Smart Pneumatics Market to surpass USD 6.72 billion by 2030 from USD 3.68 billion in 2020 at a CAGR of 6.19% within the coming years, i.e., 2020-30
Smart pneumatics refers to a device that integrates a sensor, detection and control circuit, protection circuit, and fault self-diagnosis circuit based on original components and has a power output Pneumatics is an established technology that continues to be preferred for a variety of applications due to its inherent nature Security in hazardous applications, simplicity, and reliability; Despite all its advantages, however, the technology requires improvements in terms of energy efficiency, especially when compared to competing technologies such as hydraulics or electrics. Pneumatic systems form the most primitive and clearest class of mechanical control technology and are classified under the term "Fluid Power Control" which describes any process or device that converts, transfers, distributes, or controls energy through the use of gas or pressurized liquids.
Smart Pneumatics Market is predicted to project a notable CAGR of 6.19% in 2030.
The growth of Smart Pneumatics Market is being driven by the growing awareness of predictive maintenance, the penetration of digitalization and the IoT, as well as the need for wireless infrastructure for the maintenance/monitoring of systems in systems. The penetration of digitalization and the IoT is driving the Smart Pneumatics Market for intelligent pneumatics.
Recent News and Developments:
Actuators segment to grow with the highest CAGR during 2020-30
Smart Pneumatics Market is segmented by Type into Valves, Actuators, and Modules. Actuators segment is expected to hold the largest share of the market by 2023. Smart pneumatic actuators use sensors and other electronic components to provide operational feedback (such as speed, force, travel, stroke length, and cycle time) to the controllers. The condition monitoring can use the collected data to determine whether an actuator is working as intended. and actuators, the Smart Pneumatics Market also includes modules or platforms that are used to monitor the operation and efficiency of a system. A module basically communicates with sensors in pneumatic systems through an I / O connection, allowing users to anticipate problems before they peak in the machine.
Automotive Industry segment to grow with the highest CAGR during 2020-30
Smart Pneumatics Market is segmented by Industries into Automotive, Semiconductor, Food & Beverage, Water & Wastewater, Oil & Gas. The Automotive industry segment accounted for the largest share of the Smart Pneumatics market. The global automotive industry is seeing significant growth in the number of units produced every day. Machines in the workshop require adequate maintenance to shorten production cycles and increase production. Intelligent pneumatic systems play a crucial role in efficient manufacturing processes. They also use IoT systems to increase energy efficiency and monitor plant health, which creates enormous potential for smart pneumatics in the automotive industry.
Technological innovations with enhanced capabilities and the advent of artificial intelligence and machine learning are likely to create potential demand for Smart Pneumatics during the forecast period. In addition, the need for wireless infrastructure to maintain / monitor equipment in plants is accelerating Smart Pneumatics Market growth.
Rising demand for oil and gas equipment
With the increasing demand for oil and gas equipment, the demand for pneumatic components and their measuring tools is high, and Japan is a significant contributor to the supply and the expected demand is for smart pneumatic components such as smart pneumatic valves and actuators that can generate significant revenue under this category.
Lack of common platform for Ethernet
The lack of a common platform for Ethernet, ZigBee, and Profibus limits the growth of the market for intelligent pneumatics, as these devices can be easily integrated into wireless systems of the IoT sector via these gateways and due to the lack of integration into the industry and manufacturing sector, the growth of the Smart Pneumatics Market can be challenged.
COVID-19 Impact on the Smart Pneumatics Market
Non-existence of standardized certifications might convince be a challenge for the COVID-19 impact on Smart Pneumatics Market. Pandemic had gained momentum within the recent years with the penetration in digitization moreover as IoT. aside from this mounting awareness with relevancy prophetical maintenance and also the want for wireless infrastructure to observe tools inside a plant advantages the worldwide market.
Advanced Pneumatics Company, Inc
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Smart Pneumatics Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The Asia-Pacific region is expected to dominate the Smart Pneumatics Market in the coming years. The growing population, increasing industrialization and rapid urbanization in the Asia-Pacific region, especially in developing countries such as China and India, will lead to increasing demand for agricultural products. Food and chemical products that use pneumatic equipment in their production facilities. Increased investment in new assets such as oil and gas, steel, energy, and petrochemicals, as well as the increasing adoption of international safety standards and practices, should continue to grow the market. In North America, increased production and sales of commercial vehicles and off-road trucks as well as increased production of railroads and high-speed trains are driving the regional market growth.
Smart Pneumatics Market is further segmented by region into:
|Market size value in 2020
|USD 3.68 billion
|Revenue forecast in 2030
|USD 6.72 billion
|CAGR of 6.19% from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Element, Type, Industries, and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
|Key companies profiled
|Basso Industry Corp., Bimba Manufacturing Company, Bosch Rexroth AG, Eato, Emerson Electric Co., Festo AG & Co. KG, Ingersoll-Rand plc, Metso Corporation, Parker-Hannifin Corporation
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