What is the global market size of Smart Pneumatics Market?

Global Smart Pneumatics Market size was valued at USD 3.6 billion in 2021 and is poised to grow from USD 3.84 billion in 2022 to USD 6.3 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).

Smart Pneumatics Market Size, Share, Growth Analysis, By Component(Sensors, Controllers, and Actuators), By Type of Pneumatic System(Single Acting, and Double Acting), By Communication Protocol(Fieldbus, and Industrial Ethernet), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25S2043 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 88 | Figures: 76

Smart Pneumatics Market Dynamics

Drivers

Increasing Demand for Enhanced Operational Efficiency

Rising expectations for increased operational efficiency in manufacturing. The sensors transmit the information back to a computer. With advanced controls, Smart Pneumatics can be monitored live and data scrubbed for use in future application improvements. Additionally, the upsurge in Industry 4.0-related efforts aimed at increasing connectivity and intelligent automation adds fuel to this fire.

Restraints

High Initial Implementation Cost Associated with Upgrading Pneumatic Systems

A prohibiting factor on the market is that it costs a lot of money to implement new smart technologies and get them up-and running. Another factor that may make adoption difficult is the investment needed in sensors, controllers and communication protocols. What's more, there is a certain inhibition due to the fact that it requires specialized manpower to operate and maintain such advanced smart pneumatic systems.

Smart Pneumatics Market Report Snapshots

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FAQs

Smart Pneumatics Market size was valued at USD 3.84 billion in 2022 and is poised to grow from USD 4.09 billion in 2023 to USD 6.71 billion by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).

The Smart Pneumatics market is highly competitive, and it features a constant tug-of-war between main players and supporting actors actively jostling for position. Many in the industry aim at strategic alliances, product developments and geographical expansion to reinforce their market positions. Also, the landscape is open to newcomers; in fact startups and small firms can use their specialized products as springboards for competition. 'Emerson Electric Co. (US)', 'Festo AG & Co. KG (Germany)', 'Parker Hannifin Corporation (US)', 'SMC Corporation (Japan)', 'Bosch Rexroth AG (Germany)', 'Schneider Electric SE (France)', 'Honeywell International Inc. (US)', 'Eaton Corporation plc (US)', 'Mitsubishi Heavy Industries Ltd. (Japan)', 'Rockwell Automation Inc. (US)', 'Metso Corporation (Finland)', 'Norgren (UK)', 'Aventics (Germany)', 'SMC Pneumatics (UK) Ltd. (UK)', 'IMI Precision Engineering (UK)', 'Bimba Manufacturing Co. (US)', 'Avenair Inc. (US)', 'SMC Korea Co., Ltd. (South Korea)', 'IMI Norgren (Italy)', 'AirTAC International Corporation (Taiwan)'

Rising expectations for increased operational efficiency in manufacturing. The sensors transmit the information back to a computer. With advanced controls, Smart Pneumatics can be monitored live and data scrubbed for use in future application improvements. Additionally, the upsurge in Industry 4.0-related efforts aimed at increasing connectivity and intelligent automation adds fuel to this fire.

Rising Integration of Industrial Internet of Things (IIoT) Technologies: The Offering capable integration with other machines, bringing pneumatic systems into the age of Industrial Internet of Things (IIoT). This makes it easier for real-time monitoring, predictive maintenance and overall operational adjustment. The second major development is the use of machine learning for analysis, predictive maintenance models which allow smart pneumatics to see problems in advance and schedule cutting down downtime.

It will not be surprising if Asia-Pacific is the location of most smart pneumatics in use, because it has strong industrialization thanks to countries such as China and India. Asia-Pacific is set to become a major player in the smart pneumatics market as digitization and automation takes root, while massive investments are being made by its industrial hubs.

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Smart Pneumatics Market Size, Share, Growth Analysis, By Component(Sensors, Controllers, and Actuators), By Type of Pneumatic System(Single Acting, and Double Acting), By Communication Protocol(Fieldbus, and Industrial Ethernet), By Region - Industry Forecast 2024-2031

Smart Pneumatics Market Dynamics

Smart Pneumatics Market Report Snapshots

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