Smart Pneumatics Market 2021-2027
New Study Reports " Smart Pneumatics market 2021, Analysis, Growth, Size, Trends Forecasts 2027" has been Added on MarketResearchFuture.
Report Overview
Starting with the overview of the Global Smart Pneumatics Market, it presents an overall analysis of the latest trends that are prevalent in the industry. The report begins with the description of the market surroundings and the analysis of the size and forecast of product or service based on regions and applications. In addition to it, the report also introduces the market competitive landscape among the vendors and manufacturers that contribute to the growth of the product or service. The company profiling and market price analysis in relation to the value chain features is also covered in the report. The data experts have examined and scrutinized the industry trends in the key regions. 2021 has been considered as the base year, with the forecast period extending to 2027.
The global smart pneumatics market was valued at USD 3.14 billion in 2017 and is expected to reach USD 6.76 billion by the end of the forecast period at a CAGR of 7.5%.
Smart pneumatics are advanced pneumatic equipment that can generate real-time data while the device is operating. This real-time data generation has helped the engineers and device operators to know how each equipment operates under different conditions. Smart pneumatics are rapidly replacing conventional pneumatic devices due to this feature of simultaneous record and maintenance. It has also helped the operators/engineers to locate the exact issue and save time and cost of maintenance. Although the smart pneumatic systems are quite expensive, certain tier-1 manufacturers have already adopted these devices and are benefitting from its features.
As the adoption of smart factories increases, the need for pneumatic devices especially pneumatic valves to control the flow mechanism of air in the pneumatic system. The growth of Global Smart Pneumatics Market increases with the increased advent of IoT and industry 4.0. Although the initial investment in implementing smart valves is quite high, various tier-1 companies have already adopted them for utilization in their manufacturing operations. This has benefitted companies to reduce unusual maintenance costs.
Key Players
The report has profiled some of the Important players prevalent in the global like – The key players in the Global Smart Pneumatics Market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Emerson Electric Co. (US), Festo Corporation (US), Parker Hannifin Corporation (US), Bimba Manufacturing Co. (US), Rotork PLC (UK), Rotex Automation Limited (India), Thomson Industries Inc. (US), Aventics GmbH (Germany), Cypress EnviroSystems Corp. (US), Ningbo Smart Pneumatic Co. Ltd (China). These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 30%–35% in the Global Smart Pneumatics Market and more.
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This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smart Pneumatics.
On the basis of type, the market is segmented into smart pneumatic valve, smart pneumatic actuator, smart pneumatic module. Among these, the smart pneumatic modules are expected to be the highest growing segment owing to certain changes in the industry working process. Industries are modifying their existing systems to include a pneumatic module which reduces the overall cost incurred to procure the components. This results in the use of more hardware components in the discrete process.
By component, the smart pneumatic market is segmented into hardware and software. Hardware is further segmented into sensor, and communication equipment. The software segment has further been segmented into data integration software, diagnostic reporting, and parameter calculation.
One of the exceptions from the process industry is the food & beverage industry where there is high utilization of smart pneumatic devices. This industry vertical is also expected to be the fastest growing in terms of utilizing smart pneumatics.
By region, the smart pneumatics market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Analysis
The market for smart pneumatics is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of Global Smart Pneumatics Market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and South America).
The Global Smart Pneumatics Market is dominated by Asia-Pacific in terms of highest market share and is also expected to grow at the highest CAGR during the forecast period. Asia-Pacific has a significant concentration of component manufacturers, especially China. Moreover, there is an increase in the industrial applications of smart pneumatics in industries such as oil & gas, healthcare, aviation, and automotive. On the other hand, North America is estimated to hold the second largest market by 2023. Furthermore, North America is an early adopter in terms of industrial development and adoption of smart factories. In North America, the use of hardware is dominating the software by a huge margin. Moreover, North America has a rich concentration of discrete process manufacturing industries. The use of hardware components is more than that of software for discrete process manufacturing. However, the process industry is utilizing automation significantly, and software control for their manufacturing, which results in highest growth rate of software in North America.
Key Stakeholders
Global Smart Pneumatics Market Manufacturers
Global Smart Pneumatics Market Distributors/Traders/Wholesalers
Global Smart Pneumatics Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Smart Pneumatics
…..
12 Company Profiles
12.1 Emerson Electric
12.1.1 Company Overview
12.1.2 Type/Business Segment Overview
12.1.3 Financial Updates
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.1.6 Key Strategies
12.2 Festo
12.2.1 Company Overview
12.2.2 Type/Business Segment Overview
12.2.3 Financial Updates
12.2.4 Key Developments
12.2.5 SWOT Analysis
12.2.6 Key Strategies
12.3 Parker Hannifin
12.3.1 Company Overview
12.3.2 Type/Business Segment Overview
12.3.3 Financial Updates
12.3.4 Key Developments
12.3.5 SWOT Analysis
12.3.6 Key Strategies
12.4 Bimba Manufcatruing
12.4.1 Company Overview
12.4.2 Type/Business Segment Overview
12.4.3 Financial Updates
12.4.4 Key Developments
12.4.5 SWOT Analysis
12.4.6 Key Strategies
And more
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