Market Analysis
The global smart pneumatics market is predicted to touch USD 4.76 billion at a 7.5% CAGR during the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.
Drivers
Growing Awareness about Predictive Maintenance to Boost Market Growth
The growing awareness towards predictive maintenance is boosting smart pneumatics market growth due to the emergence of industry 4.0 and also sophisticated smarter technologies. Preventive maintenance is performed to avoid downtimes in critical applications. Thus, the transition from preventive to predictive maintenance contributes significantly to the growth of the market.
Opportunities
Penetration of Digitalization and IIoT to offer Positive Market Opportunities
The penetration of digitalization and IIoT are likely to offer positive market opportunities during the forecast period. The integration of IIoT allows companies in connecting sensors used to monitor parameters like noise, temperature, and vibration to the internet and also monitor their pneumatic systems in real time. IIoT offers a single platform where companies will integrate all the data and process it as needed.
Restraints
Lack of Common Platform to act as Market Restraint
The lack of common platform for Ethernet, Profibus, and ZigBee may act as a market restraint over the forecast period as these devices can be integrated easily into wireless systems across the IoT industry through these gateways.
Challenges
Lack of Government Policies to act as Market Challenge
The lack of government policies and standardized certifications are likely to act as market challenges over the forecast period.
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.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/7589
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.
Get Complete Report @ https://www.marketresearchfuture.com/reports/smart-pneumatics-market-7589
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.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Media Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
