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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Global Smart Pneumatics Market 2019-2023 - Focus on Automotive, Semiconductor, Food & Beverage, Water & Wastewater, Oil & Gas Industries - ResearchAndMarkets.com

February 26, 2019

DUBLIN--(BUSINESS WIRE)--Feb 26, 2019--The “Smart Pneumatics Market by Component (Hardware, Software, and Services), Type (Valves, Actuators, and Modules), Industries (Automotive, Semiconductor, Food & Beverage, Water & Wastewater, Oil & Gas), and Geography - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The global smart pneumatics market was valued at USD 3.13 billion in 2017 and is projected to reach USD 4.59 billion by 2023, at a CAGR of 6.7% from 2018 to 2023.

The advent of the Internet of Things (IoT) has given rise to the prefix smart within the industrial world. Pneumatics is a well-established technology that will continue to be favored for a wide variety of applications owing to its inherent safety in hazardous applications, simplicity, and reliability. However, for all its benefits, the technology requires improvement with respect to energy efficiency, especially when compared to competing technologies such as hydraulic or electric technologies.

With the rise of IIoT and Industry 4.0, smart pneumatics has assumed a greater importance today. Energy efficiency is a major focus for manufacturers and end users as they strive to reduce energy costs amid a global initiative to reduce carbon footprint. Manufacturers have realized that developing smart pneumatic components is necessary to address the current demand for energy-efficient products and to remain competitive in the market.

Smart pneumatic products are also effective in slowing down migration toward electric equipment and are adopted in end-user industries like automotive, semiconductor, food & beverages, and packaging. Within the context of the present pneumatic equipment market, 2 of the products that come under the purview of smart products include pneumatic valves and pneumatic actuators.

The overall smart pneumatics market has been segmented into components (hardware, software, and services), types (valves, actuators, and modules), industries, and geographic regions. One of the important features offered by smart pneumatic systems is condition-based maintenance, which is gaining traction across various industries as the most effective maintenance strategy. Smart pneumatics systems are primarily used in automotive, semiconductor, food & beverages, water & wastewater, oil & gas, energy & power, and others (pharmaceuticals, chemicals, metal, and mining), to obtain increased visibility into machine operations.

The pneumatic systems market is the parent market of the smart pneumatics market, which is growing at a steady pace. The growing awareness toward predictive maintenance, penetration of digitization and IIoT, and need for wireless infrastructure to maintain/monitor equipment in plants are expected to drive the market’s growth in the near future. Currently, APAC is the major market for smart pneumatics and is expected to grow at an impressive CAGR during the forecast period.

The value chain of the smart pneumatics market consists of 4 stages: R&D; component providers, manufacturers, system integrators, and distributors; end users; and post-sales services. The major value addition takes place during the component procuring and product manufacturing stages.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Growth Opportunities in Smart Pneumatics Market

4.2 Smart Pneumatics Market, By Type

4.3 Smart Pneumatics Market in North America, By Country and Industry

4.4 Smart Pneumatics Market, By Industry

4.5 Smart Pneumatics Market, By Country, 2018

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.3 Drivers

5.3.1 Growing Awareness Toward Predictive Maintenance

5.3.2 Penetration of Digitization and Iiot

5.3.3 Demand for Smart Pneumatics Due to Remote Monitoring Capabilities

5.3.4 Need for Wireless Infrastructure to Maintain/Monitor Equipment in Plants

5.3.5 Stringent Environmental and Safety Regulations in Energy Industry

5.4 Restraints

5.4.1 High Initial Investments in Valve Projects

5.4.2 Lack of Common Platform for Zigbee, Profibus, and Ethernet

5.4.3 Lack of Standardized Certifications and Government Policies

5.5 Opportunities

5.5.1 Technological Innovations With Improved Capabilities

5.5.2 Advent of Artificial Intelligence and Machine Learning

5.6 Challenges

5.6.1 High Cost of Fabrication

5.6.2 Duplication of Technology

5.6.3 Increasing Security Risks Associated With Cloud Platform

5.7 Industry Trends

5.7.1 Value Chain Analysis

6 Smart Pneumatics Market, By Component

6.1 Introduction

6.2 Hardware

6.2.1 Sensor

6.2.2 Communications Technology

6.3 Software and Services

6.3.1 Software Data Integration Diagnostic Reporting Parameter Calculation

6.3.2 Services

7 Smart Pneumatics Market, By Type

7.1 Introduction

7.2 Smart Pneumatic Valves

7.3 Smart Pneumatic Actuators

7.4 Smart Pneumatic Modules

8 Smart Pneumatics Market, By Industry

8.1.1 Introduction

8.1.2 Oil & Gas

8.1.3 Energy & Power

8.1.4 Water & Wastewater

8.1.5 Automotive

8.1.6 Semiconductor

8.1.7 Food & Beverages

8.1.8 Others

8.1.9 Metal and Mining

8.1.10 Chemicals

8.1.11 Pharmaceuticals

9 Geographic Analysis

9.1 Introduction

9.2 North America

9.2.1 US

9.2.2 Canada

9.2.3 Mexico

9.3 Europe

9.3.1 Germany

9.3.2 UK

9.3.3 France

9.3.4 Rest of Europe

9.4 APAC

9.4.1 China

9.4.2 Japan

9.4.3 India

9.4.4 Rest of APAC

9.5 RoW

9.5.1 Middle East

9.5.2 South America

9.5.3 Africa

10 Competitive Landscape

10.1 Overview

10.2 Ranking Analysis, 2017

10.3 Competitive Situations and Trends

10.3.1 Product Launches and Developments

10.3.2 Acquisition, Collaborations, and Partnerships

10.3.3 Contracts, and Expansions

11 Company Profiles

11.1 Introduction

11.1.1 Emerson Electric Overview Products Offered Recent Developments SWOT Analysis MnM View

11.1.2 Festo

11.1.3 Parker Hannifin

11.1.4 Bimba Manufacturing

11.1.5 Rotork

11.1.6 Mesto

11.1.7 Thomson Industries

For more information about this report visit https://www.researchandmarkets.com/research/dq88kn/global_smart?w=4

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SOURCE: Research and Markets

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PUB: 02/26/2019 05:40 AM/DISC: 02/26/2019 05:40 AM