The smart pneumatics market is projected to grow at a promising growth over the upcoming years. A low-cost and safe option and the growing demand for smart pneumatic market from varied application segments is estimated to safeguard the expansion of the market during the forecast period.
The market research report forecasted the market value will reach to xxx million USD in near future. The report is designed to incorporate the qualitative and quantitative approach as per the smart pneumatic market growth. The specialty trade contractors market is segmented by component type, instrument type, Industry type and regions.
Smart Pneumatics Market Report aims to provide information related to market performance of top players along covering their company profiles, key regions, revenue growth over the forecast period. It covers different segments across all regions with emerging opportunities, growth trends and new technological advancements.
Pneumatics (from Greek πνεῦμα pneuma 'wind, breath') is a branch of engineering that makes use of gas or pressurized air. Pneumatic systems used in industry are commonly powered by compressed air or compressed inert gases. Smart pneumatic actuators use sensors and other electronics to provide operational feedback (such as speed, force, end-of-travel, stroke length, and cycle time) to controllers. The collected data enable condition monitoring to determine if an actuator is performing as intended.
COVID-19 Impact analysis
- COVID-19 pandemic has shut-down large number construction sites, power plants, chemical storage industry, technology advancement companies and others. This has hampered the growth of smart pneumatics market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of smart pneumatics. In the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for smart pneumatics was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand of services for smart pneumatics.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Key player’s of smart pneumatics market are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- Smart pneumatics contractors market is expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
In smart pneumatic market, the software and services is one of the important driving factors. Software is an essential part of a smart pneumatic system; the raw data extracted via hardware components is collected, processed, and analyzed by software.
The cost of the software implementation is in pneumatic is one of the barrier to the market growth of smart pneumatic market, which is coupled with unskilled labor.
- EMERSON introduced a strategic approach to smart and connected industry. With the Industrial Internet of Things ecosystem expanding fast, it’s critical to modernize in ways that improve business outcomes and justify investment. It introduced electronically enhanced valves, smart pneumatics monitor and smart pneumatics analyzer.
- The key players such as Emerson Electric Co. (US), Festo AG & Co. KG (Germany), Parker Hannifin Corporation (US) and others are arranging workshops for the workforce to educate them about the technology of smart pneumatics.
Key Benefits of the Report
- This study presents the analytical depiction of the smart pneumatics market making industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the smart pneumatics r market share.
- The current market is quantitatively analyzed to highlight the smart pneumatics market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed smart pneumatics market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered smart pneumatics market report
- Who are the leading global players in the Smart Pneumatics Market?
- What are the current trends and predicted trends?
- What is Smart Pneumatics ?
- What is Smart Pneumatics Market prediction in the future?
- What are the challenges faced in the Smart Pneumatics Market?
- What are the driving factors and opportunities in the market?
- What are the key benefits of the Smart Pneumatics Market report?
Smart Pneumatics Market Report Highlights
By Component Type:
By Industry Type
By Instrument Type:
Key Market Players
Parker Hannifin Corporation (US), Rotork plc (UK), Bimba Manufacturing Co. (US), Emerson Electric Co. (US), Festo AG & Co. KG (Germany), Thomson Industries, Inc. (US), Metso Corporation (Finland)