New York, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Market Introduction and Definition:
According to Persistence Market Research (PMR), the smart pneumatics industry witnessed sales of US$ 3.4 billion in 2022, with a projected Compound Annual Growth Rate (CAGR) of 6.5% from 2022 to 2032.
The market is anticipated to reach a revenue of US$ 6.3 billion by the end of 2032. The actuator segment is expected to dominate the global smart pneumatics market, exhibiting a 6.4% CAGR during the forecast period.
Various trends are fueling the growth of the smart pneumatic systems market. These include a rising demand for energy-efficient solutions, increased adoption of automation in diverse industries, and integration with the Industrial Internet of Things (IIoT).
The market is also benefiting from advancements in sensor and control technology, as well as the expanding applications of smart pneumatic systems across different end-user sectors.
One significant driver of the smart pneumatics market is the surging demand for energy-efficient solutions. In response to escalating energy costs, manufacturers are seeking ways to minimize energy consumption and reduce expenses. Smart pneumatic systems contribute to substantial savings by offering enhanced control and monitoring of energy usage in large-scale manufacturing processes.
Automation's growing prevalence across various sectors is another catalyst for the smart pneumatics industry. Companies striving to enhance productivity and efficiency are turning to automation to streamline processes and lower labor costs. Smart pneumatic systems play a pivotal role in automation, delivering precise and reliable control of pneumatic components.
Elevate your business strategy with comprehensive market data. Request a sample report now: https://www.persistencemarketresearch.com/samples/33508
Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 3.4 billion | |
| Projected Market Value (2032F) | US$ 6.3 billion | |
| Global Market Growth Rate (CAGR 2023 to 2032) | 6.5% | |
| Forecast Period | 2023-2032 | |
| No. of Pages | 250 Pages | |
| Market Segmentation | Type, Component, End-use, Region | |
| Regions Covered | North America, Europe, East Asia, South ,Asia & Oceania, Latin America, Middle East & Africa | |
| Key Companies Profiled | Emerson Electric Co., Festo Corporation, Parker Hannifin Corporation, Bimba Manufacturing Co. Rotork PLC, Thomson Industries Inc., Aventics GmbH, Cypress EnviroSystems Corp, Ningbo Smart Pneumatic Co. Ltd | |
Market Dynamics of Smart Pneumatics Market:
Growth Drivers:
Increasing Demand for Energy-Efficient Solutions: With rising energy costs, manufacturers are actively seeking ways to enhance energy efficiency and reduce consumption.
Smart pneumatic systems offer advanced control and monitoring capabilities, enabling significant savings in energy usage for large-scale manufacturing processes.
Rising Automation Across Industries: Companies across various sectors are embracing automation to boost productivity and efficiency while reducing labor costs.
Smart pneumatic systems play a crucial role in automation by providing precise and reliable control of pneumatic components, contributing to streamlined processes.
Integration with Industrial Internet of Things (IIoT): The seamless integration of smart pneumatic systems with IIoT is a key driver.
IIoT enables the interconnection of sensors, devices, and systems, providing real-time data for process optimization and operational improvements.
Advancements in Sensor and Control Technology: Ongoing advancements in sensor and control technology contribute to more accurate and reliable control of pneumatic components.
This results in improved overall performance and energy efficiency of smart pneumatic systems.
Diverse Applications Across Industries: The expanding range of applications for smart pneumatic systems, including medical devices, robotics, and industrial machinery, fuels market growth.
As the benefits of these systems become more widely known, demand continues to rise across different sectors.
Optimized Performance and Reduced Downtime: The integration of smart pneumatic systems with advanced technologies leads to optimized performance, enhancing the overall efficiency of industrial processes.
Real-time monitoring and data-driven insights help in minimizing downtime through predictive maintenance and timely interventions.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at: https://www.persistencemarketresearch.com/market-research/smart-pneumatics-market.asp
Opportunities:
Rapid Technological Advancements: Ongoing technological innovations in sensors, control systems, and connectivity open opportunities for the development of more advanced and sophisticated smart pneumatics solutions.
Expansion of Industrial IoT (IIoT) Ecosystem: The continued expansion of the Industrial Internet of Things (IIoT) creates opportunities for enhanced connectivity and integration of smart pneumatics systems with other industrial devices and platforms.
Customization and Modular Solutions: There is a growing demand for customizable and modular smart pneumatics solutions that can be tailored to specific industrial applications, providing opportunities for manufacturers to offer versatile products.
Focus on Sustainable and Green Technologies: Increasing emphasis on sustainability and environmental considerations creates opportunities for smart pneumatics to position itself as a green technology, contributing to energy efficiency and reduced environmental impact.
Penetration into Emerging Markets: As industries in emerging markets continue to modernize and adopt automation technologies, there are significant opportunities for the penetration of smart pneumatics into these regions.
Collaborations and Partnerships: Collaborations between smart pneumatics manufacturers and technology providers, as well as partnerships with industrial automation companies, can lead to the development of integrated solutions and expanded market reach.
Restraints/ Challenge:
High Initial Investment Costs: The implementation of smart pneumatics systems often involves significant upfront costs for equipment, technology integration, and workforce training, which can be a barrier for some businesses, particularly smaller enterprises.
Limited Awareness and Education: Many industries may lack awareness of the benefits and capabilities of smart pneumatics, leading to a slower adoption rate. Education and awareness initiatives are needed to overcome this challenge.
Integration Complexity: Integrating smart pneumatics with existing systems can be complex, especially in older industrial facilities. Compatibility issues and the need for skilled technicians to handle integration may pose challenges for some companies.
Cybersecurity Concerns: As smart pneumatics systems become more connected, there is an increased risk of cybersecurity threats. Protecting these systems from potential cyber-attacks requires ongoing efforts and investment in cybersecurity measures.
Resistance to Change: Resistance to adopting new technologies and processes, especially among traditional industries, can impede the widespread adoption of smart pneumatics. Overcoming resistance through education and showcasing tangible benefits is essential.
Skills Gap: The evolving nature of smart pneumatics technology requires a skilled workforce for installation, maintenance, and troubleshooting. The existing skills gap in the workforce can pose a challenge for industries adopting these systems.
Some of the major players operating in the Smart Pneumatics Market:
- Emerson Electric Co.: A multinational corporation providing automation and industrial technology solutions, including smart pneumatics systems for enhanced industrial processes.
- Festo Corporation: A global supplier specializing in pneumatic and electrical automation systems, offering smart pneumatics solutions for industrial advancement.
- Parker Hannifin Corporation: A Fortune 250 company specializing in motion and control technologies, offering smart pneumatics components for efficient motion control.
- Bimba Manufacturing Co.: A leading provider of pneumatic, hydraulic, and electric motion solutions, including smart pneumatics, enhancing automation in various industries.
- Rotork PLC: A global company specializing in flow control and instrumentation, providing smart pneumatics solutions crucial for process automation.
- Thomson Industries Inc.: A leading manufacturer of linear motion systems, including smart pneumatic components, serving industrial automation and precision engineering.
- Aventics GmbH: A subsidiary of Emerson Electric, Aventics specializes in pneumatic and hydraulic products, contributing innovative smart pneumatics solutions for automation.
- Cypress EnviroSystems Corp: Focused on energy efficiency and environmental monitoring solutions, contributing technologies that may support smart and sustainable practices in industrial settings.
- Ningbo Smart Pneumatic Co. Ltd: A Chinese company specializing in manufacturing pneumatic components and systems, offering smart pneumatics solutions for diverse industrial applications.
Global Smart Pneumatics Market Segmentation:
By Type:
Valve: This refers to the component responsible for controlling the flow of fluids or gases in a system. Smart pneumatic valves incorporate advanced technologies for precise and automated control, contributing to efficiency in various industries.
Actuator: Actuators are devices that convert energy into mechanical motion, often used to control valves in pneumatic systems. Smart pneumatic actuators offer enhanced automation capabilities, improving control and responsiveness.
Module: Modules are integrated units combining valves, actuators, and other components into a single system. Smart pneumatic modules streamline the integration process, offering compact and efficient solutions for industrial applications.
By Component:
Hardware: Hardware components include the physical elements of smart pneumatic systems, such as valves, actuators, sensors, and controllers. These components work together to enable precise control and automation in industrial processes.
Software: Software plays a critical role in the intelligence of smart pneumatic systems, providing the algorithms and programming necessary for automation, monitoring, and data analysis. Smart pneumatic software enhances control and enables data-driven decision-making.
By End-use:
Automotive: In the automotive industry, smart pneumatic systems are utilized for automation and control in manufacturing processes, contributing to efficiency and precision in tasks such as assembly and material handling.
Oil & Gas: The oil and gas sector employs smart pneumatic systems for tasks such as valve control, pipeline monitoring, and process automation. These systems enhance safety, efficiency, and reliability in oil and gas operations.
Food & Beverages: Smart pneumatic systems find applications in the food and beverage industry for tasks like packaging, filling, and sorting. Automation in these processes improves productivity and ensures product quality.
Energy & Power: In the energy and power sector, smart pneumatic systems are used for controlling processes in power plants, optimizing energy generation, and contributing to overall efficiency in power production.
By Region:
North America: In North America, the adoption of smart pneumatic systems is driven by industries such as automotive, manufacturing, and energy. These systems contribute to improving production processes and resource utilization.
Latin America: The use of smart pneumatic technology in Latin America is influenced by sectors like oil and gas, mining, and manufacturing. The implementation of these systems enhances operational efficiency and safety.
Europe: Europe sees widespread adoption of smart pneumatic systems across industries like automotive, food and beverages, and industrial manufacturing. The focus is on improving automation, precision, and sustainability.
Asia Pacific: The Asia Pacific region, with its diverse industrial landscape, experiences a growing demand for smart pneumatic solutions in automotive, energy, and manufacturing sectors. These systems contribute to increased efficiency and competitiveness.
Middle East & Africa: In the Middle East & Africa, smart pneumatic systems are utilized in sectors such as oil and gas, power generation, and manufacturing. The focus is on enhancing automation and operational reliability in these industries.
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Persistence Market Research
Teerth Technospace, Unit B-704
Survey Number - 103, Baner
Mumbai Bangalore Highway
Pune 411045 India
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com
