Smart Pneumatics Market Introduction
Industrial end-users are increasingly striving for efficient and technologically advanced systems as they are faced with growing competitive pressures. Consequently, industries are witnessing significant penetration of automation, which is also backed by the falling cost of digital technology. Companies are gravitating towards digital equipment, such as smart devices that can provide useful services with a high degree of autonomy. Different types of smart pneumatics, such as smart valves and actuators are witnessing significant adoption, as they require less maintenance, last longer and simultaneously offer improved performance, which is optimal for overall reliability of processes. These factors helped the global smart pneumatics market reach a value of roughly US$ 3 billion in 2018.
The smart pneumatics market is all set to proliferate in the forthcoming years, owing to the growing awareness related to predictive maintenance, digitization, and industrial internet of things (IIoT). The growing demand for wireless infrastructure to monitor equipment across plants is auguring well for growth in smart pneumatics industry.
Smart Pneumatics Market- Notable Developments
Some of the leading players operating in the smart pneumatics market include Rotork plc, Emerson Electric Co., Thomson Industries, Inc., Bimba Manufacturing Co., Festo AG & Co. KG, Metso Corporation, and Parker Hannifin Corporation. Notable developments in the competitive landscape of smart pneumatics market include,
- Pneumatics specialist, Aventics has recently launched a Smart Pneumatics Analyzer (SPA) to provide a mobile IIoT solution to its customers. The user can link the SPA to compressed air supply on any machine, and can obtain analysis options for key machine characteristics, like compressed air consumption and potential leakages.
- Another leading player in smart pneumatics market, Emerson has acquired Aventics to expand its reach in the fluid automation market, and solidify its automation technology portfolio across Europe.
- IMI Norgren purchased Bimba Manufacturing in 2018 to expand its business and improve the presence of IMI Precision Engineering in the US industrial automation market.
- In 2018, Famic Technologies launched a complete pneumatic catalog in Automation Studio, including products of Koganei. Famic Technologies has specially designed this catalogue to support manufacturing and automation markets.
- In December 2017, Thomson Industries, a machine industry company, launched smart actuators equipped with integrated electronics to meet the growing demand for improved connectivity, application flexibility, and cost efficiency. Thomson Industries is focusing on building smart machines for factory automation applications.
Smart Pneumatics Market Dynamics
Smart Pneumatics Monitor’s Ability to Minimize Machine Downtimes Risk Auguring Well for Stakeholders
A smart pneumatics monitor enables operators to use a valve bank that communicates through an I/O Link with sensors to project wear before it results into machine downtimes. As smart pneumatics monitors enable early detection of when critical limits will be reached and predictive maintenance, their adoption in diverse industries, such as automotive, and semiconductor is growing. Furthermore, smart pneumatics monitor module offers authentic data about the state of actuators and energy efficiency of pneumatic systems without requiring the machine control. This decreases the risk of machine downtimes, thereby, lowering the operating costs.
Remote Diagnostic Capabilities of Smart Valves Bringing Traction to Smart Pneumatics Market
The rapidly advancing types of smart pneumatics, such as smart valves, are witnessing significant adoption across automotive, food & beverages, water and wastewater, and semiconductor industries, which are striving to reduce energy costs. Smart valves streamline different manufacturing processes, as they enable constant monitoring and fault diagnosis, which further ensure optimal performance of plants. Though, smart valve technology is currently at an initial development stage, several end-users are incorporating them into their systems as it adds to plant efficiency, enhances equipment monitoring and improves process control. The growing need for minimal unplanned downtime is necessitating the adoption of smart valves with remote diagnostic capabilities, which supply warning signals to maintenance team to address a problem before it hits the operation.
Rise of IIoT and Industry 4.0 Favoring Growth in Smart Pneumatics Market
The IIoT and Industry 4.0 require smarter devices across the entire manufacturing spectrum, and thus could necessitate the adoption of smart pneumatics significantly. With manufactures and end-users increasingly focusing on energy efficiency to reduce energy costs amid a global initiative to reduce carbon footprint, the demand for smart pneumatics is likely to grow. As companies realize the necessity of developing smart pneumatic components in order to capitalize the ever-evolving consumer preference for energy-efficient products, the smart pneumatics market is expected to proliferate.
Wide Applications of Smart Pneumatics in Automotive Industry Creating Growth Opportunities for Stakeholders
The global automotive sector is witnessing notable growth in the number of units produced per day. The machinery on the production floor requires proper maintenance to reduce production cycles and boost production output. As smart pneumatics systems play an integral part in ensuring efficient manufacturing processes, their applications in automotive market are growing. Auto makers are increasingly adopting IIoT systems to monitor asset condition and increase energy efficiency, which, in turn, is creating significant growth potential for smart pneumatics in the automotive industry.
Smart Pneumatics Market- Segmentation
Based on component, the smart pneumatics market is segmented into:
Based on type, the smart pneumatics market is segmented into:
Based on industries, the smart pneumatics market is segmented into:
- Food & Beverage
- Water & Wastewater
- Oil & Gas
The research report presents a comprehensive assessment of the smart pneumatics market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to smart pneumatics market segments such as geographies, application and industry.
Smart pneumatics market report covers exhaustive analysis on:
- Smart Pneumatics Market Segments
- Smart Pneumatics Market Dynamics
- Smart Pneumatics Market Size
- Smart Pneumatics Market Supply & Demand
- Current Trends/Issues/Challenges in Smart Pneumatics Market
- Competition & Companies involved in Smart Pneumatics Market
- Technology in Smart Pneumatics Market
- Value Chain
Smart pneumatics market regional analysis includes:
- North America (U.S., Canada) smart pneumatics market
- Latin America (Mexico, Brazil, Argentina, Chile, Peru) smart pneumatics market
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe) smart pneumatics market
- CIS and Russia smart pneumatics market
- Asia-Pacific (China, India, ASEAN, South Korea) smart pneumatics market
- Japan smart pneumatics market
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel) smart pneumatics market
The smart pneumatics report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with smart pneumatics market attractiveness as per segments. The report also maps the qualitative impact of various market factors on smart pneumatics market segments and geographies.
Smart Pneumatics Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and Products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Intelligent Pneumatics
- Smart Pneumatic Actuators
- Intelligent Pneumatic Solution
- Intelligent Valves
- Intelligent Actuators
Benefits of Becoming a Fact.MR Client
- Access to our global market coverage
- Periodic updates on your sector
- Exclusive discounts and offers
- Greater flexibility for customization
- Quick-research assistance for ad-hoc needs
- Access to credible insights Fact.MR analyst interactions
- Access to Fact.MR tools and research to fuel strategy development