Smart Pneumatics Market 2021-2027

New Research Report “Smart Pneumatics market, Industrial Analysis, Market Dynamics, Growth Analysis, Regional Analysis, Size, Share, and Forecast 2021- 2027”.

Market Overview

The study of market analysis of the Smart Pneumatics Market focuses on the key elements and the market dynamics of a specific market within that industry. Global Smart Pneumatics market study is an essential part of the industry analysis that focuses on the aspects associated with the SWOT analysis. The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company. 

With the help of the Global Smart Pneumatics Market Report analysis, every new or established manufacturer can gain knowledge about the business strategies and planning by the significant key marketers who are having a strong base. The documentation is prepared by investigating the company’s activities related to their planning, decision making, purchase, capital investment, innovation, workforce, business expansion strategy, facility expansion, promotional activities, and many other aspects of a company.

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%.

Market Dynamics of Global Smart Pneumatics market

The rising awareness among the global population for the product benefit tends to increase the production of a product of the Global Smart Pneumatics market in a positive way. The manufacturers are hopeful about the possibilities of their market growth. And the analyst is also prepared the report by predicting the high growth rate than the recent rate of growth. A wide range of market players is the vital factor to gain the attraction of the larger buyers, as well as the regional market, existed across the globe. 

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.

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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.

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 
Smart Pneumatics Market Manufacturers 
Smart Pneumatics Market Distributors/Traders/Wholesalers 
Global Smart Pneumatics Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Major Key Points from Table of Content:

1 Executive Summary

2 Market Introduction

3 Research Methodology

4 Market Dynamics

5 Global Smart Pneumatics Market, By Component

6 Global Smart Pneumatics Market, by Technology

7 Global Smart Pneumatics Market, by Application

8 Global Smart Pneumatics Market, By Industry

9 Global Smart Pneumatics Market, By Region

10 Competitive Landscape

And more

Continued...

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Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

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