Overview:
The global actuator sensor (AS) interface market is gaining traction from AS-interface’s widespread use in industries to maintain smooth communication amongst various resources. It works as a part of an existing actuator sensor interface network by bridging communication and enabling commands between the higher-level control system and other devices. The intent is to smoothen the flow of data and commands and ensure effective controlling, monitoring, and execution of the manufacturing process. The global actuator sensor interface market is eyeing for a valuation of USD 1,178.3 million during the forecast period (2018-2023) at a CAGR of 4.8% during the forecast period. The report published by Market Research Future (MRFR) includes determinants of the actuator sensor interface market and a detailed segmental analysis for a better comprehension of the market in the coming years.
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Actuator sensor interfaces mostly find use in material handling that includes loading and transporting of the material from one place to another. One such area is the airport where the baggage handling section finds extensive use of the AS-interface. Its market popularity depends on its ability to optimize operation, minimize waste production, and tactful use of valuable resources. The water purification process is demanding more of it. Its low-cost features, simplicity, interoperability, and flexibility make it the choicest option for a number of industries. All these factors can ensure a smooth run for the AS-interface market in the coming years.
Segmentation:
The global actuator sensor interface market can be segmented by component, application, and industry.
By component, the actuator sensor interface market can be segmented into AS-interface gateway, AS-interface slave, AS-interface cable, AS-interface power supply, and others.
Based on application, the actuator sensor interface market comprises building automation, material handling, drive control, and others. Currently, building automation segment is generating heavy demands.
Based on industry, the actuator sensor interface market includes pharmaceuticals, automotive, metal & mining, food & beverages, chemicals, paper, oil & gas, water & wastewater treatment, and others.
Regional Analysis:
Geographic analysis of the actuator sensor interface market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America, with 40% market share, is dominating the global market. Most of the market leaders are based out of this region which gives the regional market much prominence. Infrastructural superiority is one big reason due to which the regional market is witnessing high growth.
Europe’s market also has great prospect as the region is investing substantially for research and developments. In addition, their infrastructure is also top-notch which gives market much-needed thrust. The APAC region can record the fastest CAGR during the forecast period. South Korea is one country that has integrated the system in automobile, shipping, and mining industries which trigger further growth for the regional market. Its cost-effective operation and smooth installation process made it a market favorite.
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Competitive Analysis:
The prominent players in the AS-Interface Market are ABB Group (Switzerland), Baumer Electric AG (Switzerland), Pepperl+Fuchs GmbH (Germany), Emerson Electric Co. (U.S), and others. These companies often involve in strategic developments to give their respective companies lead over the rest and take the whole market ahead in the process. These tactical moves often include merger, acquisition, collaboration, new product launch, research & development, and other methods.
In June 2018, Emerson Electric Company announced the launch of Copeland Scroll ZF54K5 compressor to help facility operators in their aim to reduce costs and boost energy efficiency. The launch will strengthen Emerson’s market position and assist in infrastructural growth across the globe. The machine is eco-friendly as it curbs CO2 emission considerably which will help it gain approval from governments.
In May 2018, ABB Group, of Switzerland, cemented its presence in Chongqing by support assisting the progress of the robotics industry in China. With that intent, they have set up an excellent new robotics application center in Chongqing Liangjiang New Area. This plan will help in integrating resources of Southwest China all the while providing them with robots, application, system integration and related customer service.
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