Smart Pneumatics Market Introduction
Industrial end-users are increasingly striving for efficient and technologically advanced systems as they are faced with growing competitive pressures. Consequently, industries are witnessing significant penetration of automation, which is also backed by the falling cost of digital technology. Companies are gravitating towards digital equipment, such as smart devices that can provide useful services with a high degree of autonomy. Different types of smart pneumatics, such as smart valves and actuators are witnessing significant adoption, as they require less maintenance, last longer and simultaneously offer improved performance, which is optimal for overall reliability of processes. These factors helped the global smart pneumatics market reach a value of roughly US$ 3 billion in 2018.
The smart pneumatics market is all set to proliferate in the forthcoming years, owing to the growing awareness related to predictive maintenance, digitization, and industrial internet of things (IIoT). The growing demand for wireless infrastructure to monitor equipment across plants is auguring well for growth in smart pneumatics industry.
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Smart Pneumatics Market- Notable Developments
Some of the leading players operating in the smart pneumatics market include Rotork plc, Emerson Electric Co., Thomson Industries, Inc., Bimba Manufacturing Co., Festo AG & Co. KG, Metso Corporation, and Parker Hannifin Corporation. Notable developments in the competitive landscape of smart pneumatics market include,
- Pneumatics specialist, Aventics has recently launched a Smart Pneumatics Analyzer (SPA) to provide a mobile IIoT solution to its customers. The user can link the SPA to compressed air supply on any machine, and can obtain analysis options for key machine characteristics, like compressed air consumption and potential leakages.
- Another leading player in smart pneumatics market, Emerson has acquired Aventics to expand its reach in the fluid automation market, and solidify its automation technology portfolio across Europe.
- IMI Norgren purchased Bimba Manufacturing in 2018 to expand its business and improve the presence of IMI Precision Engineering in the US industrial automation market.
- In 2018, Famic Technologies launched a complete pneumatic catalog in Automation Studio, including products of Koganei. Famic Technologies has specially designed this catalogue to support manufacturing and automation markets.
- In December 2017, Thomson Industries, a machine industry company, launched smart actuators equipped with integrated electronics to meet the growing demand for improved connectivity, application flexibility, and cost efficiency. Thomson Industries is focusing on building smart machines for factory automation applications.
Smart Pneumatics Market Dynamics
Smart Pneumatics Monitor’s Ability to Minimize Machine Downtimes Risk Auguring Well for Stakeholders
A smart pneumatics monitor enables operators to use a valve bank that communicates through an I/O Link with sensors to project wear before it results into machine downtimes. As smart pneumatics monitors enable early detection of when critical limits will be reached and predictive maintenance, their adoption in diverse industries, such as automotive, and semiconductor is growing. Furthermore, smart pneumatics monitor module offers authentic data about the state of actuators and energy efficiency of pneumatic systems without requiring the machine control. This decreases the risk of machine downtimes, thereby, lowering the operating costs.
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Remote Diagnostic Capabilities of Smart Valves Bringing Traction to Smart Pneumatics Market
The rapidly advancing types of smart pneumatics, such as smart valves, are witnessing significant adoption across automotive, food & beverages, water and wastewater, and semiconductor industries, which are striving to reduce energy costs. Smart valves streamline different manufacturing processes, as they enable constant monitoring and fault diagnosis, which further ensure optimal performance of plants. Though, smart valve technology is currently at an initial development stage, several end-users are incorporating them into their systems as it adds to plant efficiency, enhances equipment monitoring and improves process control. The growing need for minimal unplanned downtime is necessitating the adoption of smart valves with remote diagnostic capabilities, which supply warning signals to maintenance team to address a problem before it hits the operation.
Rise of IIoT and Industry 4.0 Favoring Growth in Smart Pneumatics Market
The IIoT and Industry 4.0 require smarter devices across the entire manufacturing spectrum, and thus could necessitate the adoption of smart pneumatics significantly. With manufactures and end-users increasingly focusing on energy efficiency to reduce energy costs amid a global initiative to reduce carbon footprint, the demand for smart pneumatics is likely to grow. As companies realize the necessity of developing smart pneumatic components in order to capitalize the ever-evolving consumer preference for energy-efficient products, the smart pneumatics market is expected to proliferate.
Smart Pneumatics Market- Segmentation
Based on component, the smart pneumatics market is segmented into:
- Hardware
- Software
- Services
Based on type, the smart pneumatics market is segmented into:
- Valves
- Actuators
- Modules
Based on industries, the smart pneumatics market is segmented into:
- Automotive
- Semiconductor
- Food & Beverage
- Water & Wastewater
- Oil & Gas
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