09 April 2021
The new report the Smart Pneumatics Market Report to 2031: Forecasts by Component (Hardware, Software, and Services), Type (Smart Pneumatic Valves, Smart Pneumatic Actuators, and Smart Pneumatic Modules), Industry (Oil & Gas, Energy & Power, Water & Wastewater, Automotive, Semiconductor, Food & Beverage, and Others), by Region, Country, and Profiles of Leading Companies indicates that the Global Smart Pneumatics Market will see $ XX bn in spending in 2020.
The lead analyst of the report said: "The smart pneumatics market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of the smart pneumatics."
The global smart pneumatics market is likely to experience substantial growth prospects in the coming years. It helps in monitoring and collecting data to process work seamlessly and efficiently. This market's growth will be propelled by growing awareness about predictive maintenance, penetration of digitization and IIoT, and the need for wireless infrastructure to maintain/monitor equipment in plants.
The growth in demand for smart factory and Industry 4.0, the growing focus of manufacturers on reducing operational and maintenance costs, surging demand for FDM systems, and rising investments for FDM solutions by automation companies are the critical growth factors for the market in the coming years. The IIoT has further expanded its capability by enhancing the pneumatic device specifications and generating real-time data for analytical procedures. These datasets are used in upholding energy efficiency and also reduce the overall operational cost to the manufacturers. There is a rapid increase in awareness about predictive maintenance among industrial manufacturers and is expected to create market opportunities. However, the high investment cost required for industrial projects and lack of smart pneumatic devices standardization is expected to restrain the market's growth.
The growth of the smart pneumatics market has witnessed a slower growth owing to the COVID-19 outburst. It is also seen that the halting manufacturing operations have positively affected the production counts and overall demand of the smart pneumatics in the global market during the forecast period.
The XX page report contains 124 tables and 242 graphs that add visual analysis to explain developing trends within the smart pneumatics market. The report provides $ XX bn forecasts during the forecast period 2021-2031 for the smart pneumatics submarkets, namely by type, i.e., smart pneumatic valves, smart pneumatic actuators, and smart pneumatic modules.
The XX page report offers market forecasts and analysis for 24 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies' chapter covering more than 15 companies leading the field in the smart pneumatics.
The global smart pneumatics market 2021-2031 report will be of value to anyone who wants to understand better the smart pneumatics market and its various segments. It will be useful for businesses who wish to comprehend the part of the market better they are already involved in, or those wishing to enter or expand into a different regional or technical aspect of the smart pneumatics industry.
Notes for Editors
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