Global Smart Pneumatics Market 2021
New Study Reports " Smart Pneumatics Market 2021 Global Market Demand, Opportunities, Challenges, Strategies and Forecasts 2027" has been Added on MarketResearchFuture.
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 smart pneumatics market increases with the increased advent of IIoT 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.
This report provides in depth study of “Smart Pneumatics Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Smart Pneumatics Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
This report also analyzes the impact of Coronavirus COVID-19 on the Smart Pneumatics industry.
The report has profiled some of the Important players prevalent in the global like – The key players in the 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 smart pneumatics market and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smart Pneumatics.
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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. 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.
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 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 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.
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