Market Analysis
The global smart pneumatics market is expected to exhibit a strong 7.5% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global smart pneumatics market was valued at USD 3.14 billion in 2017 and is expected to reach a valuation of USD 4.76 billion by 2023. The global smart pneumatics market is studied in great detail in the report, which includes a detailed analysis of the market’s historical growth trajectory and present condition.
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Smart Pneumatics Market to Benefit from COVID-19 Pandemic
The COVID-19 pandemic had a positive impact on the Smart Pneumatics Market Growth to some extent. Leading smart pneumatics manufacturer Festo has taken its social mandate in alleviating the corona crisis seriously by developing emergency ventilator with digital pneumatics, protective mask, and the construction of an emergency hospital.
Market Segmentation
Smart Pneumatic Modules Type to Lead Smart Pneumatics Market
The smart pneumatics modules type segment will lead the market over the forecast period due to certain changes in the industry working process.
Hardware Component to Dominate Smart Pneumatics Market
The hardware component segment will dominate the market over the forecast period. Hardware components provided by smart pneumatics solution providers mainly comprise motion sensors, pressure sensors, and position sensors. These sensors together with communications technology are integrated into pneumatic systems like actuators and valves enabling them to be smart.
Automotive End User to Spearhead Smart Pneumatics Market
The increasing adoption of smart pneumatics to enhance efficiency in manufacturing process in automotive industry is driving the growth of the automotive segment. Besides, the increasing adoption of industrial of things application is also adding to the growth of the segment.
Regional Analysis
APAC to Have Lions Share in Smart Pneumatics Market
The Asia Pacific region will have the lions share in the market in the forecast period. The increased amount of smart factories and manufacturers setting-up their vase in Indonesia, China, and India, the availability of resources at lower prices encouraging manufacturers to invest in these regions, and companies investing in the development of smart pneumatic devices are adding to the global smart pneumatics industry growth in the region. Besides, the increasing adoption of smart manufacturing or industry 4.0 in various industries, stringent government regulations for personal safety and workplace, rising focus on optimum asset utilization, and tight quality control in the food and beverages industries, automotive, semiconductor and chemicals industries are also adding market growth.
Key Players
Leading smart pneumatics companies profiled in the global smart pneumatics equipment market report include Ningbo Smart Pneumatic Co. Ltd (China), Cypress EnviroSystems Corp (US), Aventics GmbH (Germany), Thomson Industries Inc. (US), Rotex Automation Limited (India), Rotork PLC (UK), Bimba Manufacturing Co. (US), Parker Hannifin Corporation (US), Festo Corporation (US), and Emerson Electric Co. (US), among others.
Industry Updates
June 2021- Staubli has launched its new generation of CombiTac connector solutions. It is ideal for applications where tool-free, fast connections are required and where combinations of pneumatics, power, and electrical signals need to be integrated in a single modular connector.
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