Global Smart Pneumatics Market Size to Reach USD 8.46 Billion in 2032 | Emergen Research

Rising demand owing to remote monitoring capabilities is a key factor driving market revenue growth

Vancouver, Sept. 12, 2023 (GLOBE NEWSWIRE) — The global smart pneumatics market size is expected to reach USD 8.46 Billion in 2032 and register a steady revenue CAGR of 6.8% during the forecast period, according to latest analysis by Emergen Research. Rising demand for smart pneumatics in the Food & Beverage sector is primary key factor driving market revenue growth. Pneumatic systems are easier to operate and provide less risk to operators and maintenance personnel because these have fewer moving parts. Pneumatics technology is clean and dependable, as well as safe and simple to maintain, which incorporates design elements that improve performance and reduce costs.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2282

In addition, rising awareness regarding predictive maintenance is another key factor driving revenue growth of the market. Companies can optimize maintenance schedules, prevent unplanned downtime, and extend the lifespan of pneumatic systems by recognizing maintenance needs in advance. Predictive maintenance that is effective aids in performance optimization by revealing issues that contribute to inefficient equipment operation. This allows for concentrated maintenance, which saves money on unnecessary inspections and repairs, while also allowing for early intervention to avoid big and difficult problems later, hence driving market revenue growth.

However, high initial installation cost is a key factor, which could restrain market revenue growth. The price of procuring smart components, sensors, and controllers, and integrating with existing infrastructure is expensive, especially for small businesses with restricted finances.

Scope of Research

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2282

Major Companies and Competitive Landscape

The global smart pneumatics market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

• Emerson Electric Co.
• Festo Inc.
• Parker Hannifin Corp.
• Rotork
• Metso
• Thomson Industries, Inc.
• Rotex SOV
• Ningbo Smart Pneumatic Co., Ltd.
• VAC-U-MAX
• Stanley Black & Decker, Inc.

Strategic Development

• On 5 February 2023, AVEVA announced the introduction of its latest AVEVA Predictive Analytics software update, which is designed for predictive monitoring of industrial assets in the O&G, power, chemicals, mining and minerals, and manufacturing industries. The software assists industrial operators in achieving the greatest levels of asset reliability and performance while boosting sustainability and increasing staff efficiency. This software release substantially simplifies the deployment, validation, maintenance, and clear interpretation of predictive model results, allowing asset stakeholders to make better, more timely, and informed decisions to boost profitability.

Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2282

Some Key Highlights From the Report

• The hardware segment accounted for largest revenue share in the global smart pneumatics market in 2022. The hardware segment is further segmented into sensor and communications technology. This is due to rising demand for pneumatic pressure sensors, which are used to detect and monitor compressed air/gas pressure levels in a system utilizing a range of electrical devices. These pressure sensors work as transducers, generating an electrical signal proportionate to the output pressure being measured. Pressure levels must always be maintained, accurately, and carefully monitored, due to which sensors are crucial in applications such as automotive, medical, industrial, and building systems.
• The smart pneumatic actuators segment is expected to register steadily fast revenue growth rate in the global smart pneumatics market during the forecast period. This is due to rising demand for pneumatic actuators since these provide mechanical motion to an application through the compression of atmospheric air. These have few moving parts and are therefore highly durable because pneumatic actuators are powered by compressed air. In addition, these can work under steady pressure while sustaining extremely little wear and tear over time. Moreover, when utilized in linear motion control applications, pneumatic actuators can produce great force and fast movement rates owing to the device’s use of air pressure and flow, hence driving revenue growth of this segment.
• The Oil & Gas (O&G) segment is expected to account for significantly large revenue share in the global smart pneumatics market during the forecast period. This is because remote O&G processes are monitored and controlled using IoT sensors, reducing downtime and increasing safety. IoT sensors can also predict when equipment will fail, allowing businesses to schedule maintenance before a breakdown occurs. As a result, these reduce the number of times emergency repairs are required while also prolonging equipment lifespan, saving businesses money.
• The Asia Pacific market accounted for largest revenue share in the global smart pneumatics market in 2022 due to rising awareness regarding predictive maintenance. In addition, increasing use of industrial automation across a wide range of industries, such as manufacturing, automotive, and electronics, is another factor driving market revenue growth of this region during the forecast period. Connected technology is used in smart pneumatics to enhance the system and combat the ever-present issue of leakage.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/smart-pneumatics-market

For the purpose of this report, Emergen Research has segmented the smart pneumatics market on the basis of component, type, industry, and region:

• Component Outlook (Revenue, USD Billion; 2019–2032)
  • Hardware
    • Sensor
    • Communications Technology
  • Software and Services
    • Software
      • Data Integration
      • Diagnostic Reporting
      • Parameter Calculation
    • Services
• Type Outlook (Revenue, USD Billion; 2019–2032)
  • Smart Pneumatic Valves
  • Smart Pneumatic Actuators
  • Smart Pneumatic Modules
• Industry Outlook (Revenue, USD Billion; 2019–2032)
  • Oil & Gas (O&G)
  • Energy & Power
  • Water & Wastewater
  • Automotive
  • Semiconductor
  • Food & Beverage (F&B)
  • Others
    • Metal and Mining
    • Chemicals
    • Pharmaceuticals
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of Middle East & Africa

Curated Reports You Shouldn’t Miss: Dive In Now!

Intelligent Lighting Control Market By Product (Sensors, Ballads & LED Drivers, Microcontrollers, Dimmers & Switch Actuators, Transmitters & Receivers), By Applications (Smart Cities, Automotive, Manufacturing, Media & Entertainment, Others), By Connectivity (Wired, Wireless) and By Regions Forecasts to 2027

Smart Glass Market By Application (Architectural, Transportation, Consumer Electronics, Power Generation, Others), By Technology (Electrochromic, PDLC, SPD, Thermochromic, Photochromic) and By Regions Forecasts to 2027

Biometrics Market, By Authentication Type (Single-Factor Authentication, Multi-Factor Authentication), By Component (Hardware, Software), By Functionality, By Technology, By Application, By End-use, and By Region Forecast to 2030

High Speed Camera Market By Spectrum (Visible RGB, Infrared, X-Ray), By Frame Rate (250-1,000, 1,001-10,000, 10,001-30,000, 30,001-50,000, Above 50,000), By Application (Automotive & Transportation, Retail, Aerospace & Defense, Healthcare, Media & Entertainment, Others) and By Regions Forecasts to 2027

Fingerprint Sensor Market, By Type (Optical, Thermal, Ultrasonic, Others), By Application (Smartphones, wearables, Home Security, Others), By End-use (Consumer electronics, Government and Law Enforcement, and Others), and By Region Forecast to 2030

Iris Recognition Market By Product (Iris Scanners, Smartphone & Tablets, Wearable Gadgets), By Industry Vertical (Consumer Electronics, Government & Defense, BFSI, IT & Telecommunication), By Application (Identity Management and Access Control, E-Payment), System Type (Unimodal, Multimodal), Component (Hardware, Software) and Regions Forecasts to 2027

Silicon Photonics Devices Market By Product (Optical Cables, Multiplexers, Optical Transceivers), By Devices (Photo Detector, Optical Waveguide, Optical Modulator), By Application (IT & Telecommunication, Healthcare, Defense, Consumer Electronics), and By Region, Forecasts to 2027

Embedded SIM Market By Solution (Hardware, Connectivity Services), Application (Smartphones, Laptops, Wearables, Connected Cars, Machine to Machine, Others), By End-Use (Energy & Utilities, Automotive, and Others) By Region Forecasts to 2027

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights

Read our Press Release @ https://www.emergenresearch.com/press-release/global-smart-pneumatics-market