Industry Background:
The Smart Pneumatics Monitor (SPM) IoT gateway analyses existing sensor signals and uses the result to generate status information. To monitor the wear of a shock absorber. The SPM makes it easy for customers who are already using AV valves and the AES Fieldbus system to take a further step towards implementing IoT solutions. Programming of the SPM can even be modified while the application is running, without any impact on communication to the controller. The use of smart pneumatics reduces the operating cost as well as minimizes the risk of unplanned machine downtime.According to AMA, the market for Smart Pneumatics is expected to register a CAGR of 6.8% during the forecast period to 2026. This growth is primarily driven by Growing Awareness toward Predictive Maintenance, Penetration of Digitization and IIot, Demand for Smart Pneumatics Due to Remote Monitoring Capabilities, Need for Wireless Infrastructure to Maintain/Monitor Equipment in Plants and Stringent Environmental and Safety Regulations in Energy Industry.
Globally, a noticeable market trend is evident Digital Technologies in Engineering of Pneumatics. The Networking Equipment sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Emerson Electric (United States), Festo (Germany), Parker Hannifin (United States), Bimba Manufacturing (United States), Rotork plc (United Kingdom), Metso Corp. (Finland) and Thomson Industries (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On May 17, 2018 Emerson announced to acquire Aventics from Triton for a cash purchase price of €527 million. Aventics is among the international leaders in smart pneumatics technologies that power machine and factory automation applications. Emerson is a leader in fluid automation technologies for process and industrial applications, and Aventics significantly expands the Companys reach in this growing USD13 billion market. Due to the acquisition both the company will strengthen their technology as well as capability.
Market Drivers
- Growing Awareness toward Predictive Maintenance
- Penetration of Digitization and IIot
- Demand for Smart Pneumatics Due to Remote Monitoring Capabilities
- Need for Wireless Infrastructure to Maintain/Monitor Equipment in Plants
- Stringent Environmental and Safety Regulations in Energy Industry
Market Trend
- Digital Technologies in Engineering of Pneumatics
Restraints
- High Initial Investments in Valve Projects
- Lack of Common Platform for Zigbee, Profibus, and Ethernet
- Lack of Standardized Certifications and Government Policies
Opportunities
Technological Innovations with Improved Capabilities and The advent of Artificial Intelligence and Machine Learning
Challenges
High Cost of Fabrication, Duplication of Technology and Increasing Security Risks Associated With Cloud Platform
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Pneumatics Study Sheds Light on
The Smart Pneumatics Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smart Pneumatics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Pneumatics industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.