Attractive Opportunities in Global Smart Pneumatics Market: Rise of Industrial IoT & Industry 4.0

The overall smart pneumatics market is estimated to grow from USD 3.3 billion in 2018 to USD 4.6 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. The growth of this market will be propelled by growing awareness about predictive maintenance, penetration of digitization and IIoT, and need for wireless infrastructure to maintain/monitor equipment in plants.

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Market for smart pneumatic actuators is expected to grow at a higher rate during the forecast period

The report covers the smart pneumatics market segmented by component, type, industry, and geographic region. The smart pneumatic actuators segment is expected to hold the largest share of the market by 2023. 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. Beside pneumatic valves and actuators, the market also includes modules or platforms that are used to monitor the operation and efficiency of a system. A module basically communicates via an I/O link with sensors on pneumatic systems, through which users can anticipate issues before they culminate to machine breakdowns.

Software and services component to witness the highest CAGR during the forecast period.

In the smart pneumatics market, the software and services segment is expected to grow at the highest growth rate during the forecast period. Software is an essential part of a smart pneumatic system; the raw data extracted via hardware components is collected, processed, and analyzed by software. A variety of software solutions are available in the market, working on different technologies but mostly featuring some common functions, such as data integration, diagnostic reporting, order tracking analysis, and parameter calculation. Manufacturers are focusing on offering monitoring services, in terms of extracting and analyzing the data.

Automotive industry accounted for the largest market share during forecast period.

The automotive industry accounted for the largest share of the smart pneumatics market in 2018. The global automotive industry is witnessing significant growth in the number of units produced per day. The machinery on the production floor needs proper maintenance to shorten production cycles and increase production output. Smart pneumatic systems play a crucial role in ensuring efficient manufacturing processes. Automotive manufacturers are also adopting IIoT systems to increase energy efficiency and monitor asset condition. This is creating a huge potential for smart pneumatics in the automotive industry.

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APAC to dominate the smart pneumatics market during forecast period

APAC held the largest share of the smart pneumatics market in 2018. The growing adoption of smart manufacturing or Industry 4.0 in various industries is creating a huge demand for smart pneumatics in the region. Besides, factors like growing focus on optimum asset utilization; stringent government regulations for workplace and personal safety; and tight quality control in the automotive, semiconductor, chemicals, and food & beverages industries are driving the demand for smart pneumatic systems in APAC. Besides, North America is a mature market for industrial automation. The region leads in terms of advanced automation technology and the use of advanced manufacturing techniques. These factors contribute to the growth of the market in this region.

Key Market Players

Emerson Electric Co. (US), Festo AG & Co. KG (Germany), Parker Hannifin Corporation (US), Bimba Manufacturing Co. (US), Rotork plc (UK), Metso Corporation (Finland), and Thomson Industries, Inc. (US). are the major players operating in this market.

EMI Shielding Market Is Projected To Grow At the Highest CAGR during 2019-2024

According to the new market research report "EMI Shielding Market by Material (EMI Shielding Tapes & Laminates, Conductive Coatings & Paints, Metal Shielding, Conductive Polymers, EMI Filters), Method (Radiation, Conduction), Industry, and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the EMI shielding market is expected to be valued at USD 6.3 billion in 2019. It is expected to reach USD 8.2 billion by 2024 at a CAGR of 5.34% from 2019 to 2024. 

The factors that are driving the growth of the market include ongoing demonstrations of field trials and pilot projects to develop the viability of 5G technology, stringent EMI regulations, and increasing deployment of the electronics systems in the automotive industry.

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"Conductive coatings & paints to hold largest market share in global EMI shielding market"

Conductive coatings & paints offer EMI shielding for non-metal surfaces such as plastics. Therefore, it is widely used in smartphones, telecom equipment, medical devices, and military devices. Copper conductive painting is widely used for high-frequency EMI shielding (>30 MHz). Nickel coatings are used in low-frequency applications. Cell phones, tablets, and other consumer electronics such as television sets, telecommunication equipment, medical devices, industrial equipment, military devices, and aerospace equipment are the major applications of conductive nickel coatings. Silver is a highly conductive metal and is used for high performance with an added cost than copper coating; hence, it is used in the most demanding application. The primary application of silver-coated copper conductive coating provides high-conductivity EMI shielding at a reasonable cost.

"Automotive industry is expected to exhibit highest growth from 2019 to 2024"

The fast-changing automotive manufacturing industry across the world requires EMI shielding solutions to a great extent. There is an increase in demand for electric vehicles and autonomous cars globally. Also, onboard GPS navigation systems, touchscreen infotainment systems, handsfree features, Bluetooth capabilities, and terrain management systems have increased the convenience and safety of both the driver and the traveler, but the increased use of these devices has created more challenges related to unwanted EMI. Hence, more the adoption of advanced electronics, more critical will be the need for EMI shielding in the automotive market.

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"APAC expected to be fastest-growing region in the EMI shielding market from 2019 and 2024"

The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the said market during the forecast period is expected due to the high demand for consumer electronic products such as smartphones and home appliances. On the other hand, the Japanese market would be driven by the demand for electric and hybrid vehicles and advanced consumer electronics products.

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Major players included in the EMI shielding market are Laird (UK), Chomerics (US), PPG Industries (US), Integrated Polymer Solutions (US) and DowDuPont (US).  The other key players in this market include companies such as 3M Company (US), Kitagawa Industries (Japan), Tech-Etch (US), Schaffner (Switzerland), and Nolato (Sweden).

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Industrial IoT Market is expected to witness high growth during 2019-2025

According to the new research report "Industrial IoT Market by Device & Technology (Sensors, RFID, Industrial Robotics, Condition Monitoring, Smart Meters, Camera System, Networking Technologies), Software (PLM systems, MES, SCADA), Vertical, and Geography - Global Forecast to 2025", is expected to grow from USD 64.0 billion in 2018 to USD 105.4 billion by 2025; it is estimated to grow at a CAGR of 7% during 2019–2025. Technological advancements in semiconductor and electronics devices, increasing use of cloud computing platform, standardization of IPv6, support from governments worldwide, and decreasing cost of automation are the key factors fueling the growth of this market.

Based on software, market for manufacturing execution system is expected to gain significant share of Industrial IoT market by 2025

The manufacturing excecution system (MES) software is expected to account for the largest share of the Industrial IoT market by 2025. The MES Industrial IoT software is used to monitor and manage work in factories, it helps manufacturing facilities with materials, orders and production functionalities to reduce costs and improve efficiency. 

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Based on device & technology, market for smart beacon to grow at higher CAGR from 2020 to 2025

The market for smart beacon is expected to grow at a higher CAGR from 2019 to 2025. Also known as Bluetooth low energy (BLE) beacon, is a type of proximity sensor. Usability in the retail, commercial/enterprise, connected home, and personal asset tracking are likely to be the major factors contributing to the growth of the market for smart beacon. These sensors find their applications in several industries, ranging from retail to industrial to consumer electronics.

Industrial IoT market for agriculture vertical to grow at highest CAGR from 2020 to 2025

Based on end-user vertical segment, the market for the agriculture vertical is expected to grow at the highest CAGR from 2019 to 2025. The growth of the Industrial IoT market for the agriculture vertical is driven by the growing adoption of Industrial IoT for precision farming. Industrial IoT can be used for application such as, GPS-enabled guiding system to remote monitoring and controlling of multiple in-field devices.

Industrial IoT market in APAC to grow at highest CAGR during forecast period

The Industrial IoT market in APAC is expected to grow at the highest CAGR during the forecast period. The APAC have huge population, increased R&D investments, and high manufacturing, which is also emerging hub for the metals and mining vertical. Infrastructural and industrial development in emerging economies like China, India, and South-East Asia is fueling the growth of industrial IoT in APAC. Cost-effective and highly efficient Industrial IoT have witnessed an increasing demand from manufacturing, energy, oil & gas, metals and mining, healthcare, retail, transportation and agriculture, which is likely to propel the growth of the Industrial IoT market in APAC in the next few years.

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Key players in the market include Cisco (US), General Electronics (US), Honeywell (US), Intel (US), IBM (US), ABB (Switzerland), Rockwell Automation (US), Siemens (Germany), Huawei (China) and Bosch (Germany). These players are increasingly undertaking product launches, mergers, and acquisitions to increase their market shares.