Global Actuator Sensor Interface Market
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Global actuator sensor interface market Definition
The actuator sensor interface, also called AS-interface or ASi, is an intelligent industrial networking system generally used to replace the traditional hardwiring system of field devices. It is designed to connect simple I/O devices such as on-off switches, actuators, and sensors, push buttons. Also, it is widely used in automation applications such as DCS, PLC, and PC based automation systems.
Global actuator sensor interface market Dynamics
A surge in the adoption of AS- interface networking system in industrial automation applications such as packaging machines, bottling plants, elevators, conveyor control, process control valves, and many other automation applications is a major driving factor behind the growth of the market. A growing market for industrial automation across the globe, increasing demand to reduce the complexity of the wiring system, introduction of advanced ASi-3 and ASi-5 communication and transmission technology, rising applications of ASi in home and factory automation system and growing demand of cost-effective and easy installation based industrial networking solutions are expected to improve the growth of the market during the forecast period. AS-interface system provides some benefits such as cost-saving, compatibility, reduction in installation errors, and best networking opportunities, which are ultimately propelling the growth of the market.
However, more complexity of smart sensors consists of actuator and sensor than the simple sensor is a major restraining factor that could hamper the growth of the market.
Global Actuator Sensor Interface Market: Segmentation Analysis
By application, the material handling segment dominated the market in 2019. However, the building automation segment is projected to witness fast growth at CAGR of XX% during the forecast period. Growing adoption of AS-interface in building automation applications because of its benefits such as a high degree of flexibility, cost-saving, and simple installation is attributed to the growth of the market. Surge in the adoption of building automation, home automation and factory automation system across the world and wide-scale dependence on AS-interface installation system by various companies for applications such as heating and cooling ceilings, controlling smoke and fire damper systems and in shutter drives is impelling the growth of the market.
According to study, MMR found that, at present, nearly 18 million devices in the market are using the AS-Interface system and there are about 2 million users of AS- interface worldwide. The growth of these worldwide users and AS-interface based devices is dramatically increasing because; the AS- interface technology or system is freely available to all device developers and manufacturers across the globe.
Global Actuator Sensor Interface Market: Regional Analysis
Region-wise, North America held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The US and Canada are major key contributors to the growth of the market. The growth is attributed to the high adoption rate of home automation, building automation, and factory automation systems in the US. Growing applications of AS-interface in mining, shipbuilding, and automobiles industries is propelling the growth of the market.
Well established infrastructure and economic development in the region, domestic and international export and import, consumption and production of actuators, and sensors and the massive presence of leading AS-interface manufacturing companies across the region is further impelling the growth of the market.
The objective of the report is to present a comprehensive analysis of the Global Actuator Sensor Interface Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Actuator Sensor Interface Market dynamics, structure by analyzing the market segments and projects the Global Actuator Sensor Interface Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Actuator Sensor Interface Market make the report investor’s guide.
The Scope of Global Actuator Sensor Interface Market: Inquire before buying
Global Actuator Sensor Interface Market, By Component
• AS-interface Power Supply
Global Actuator Sensor Interface Market, By Application
Global Actuator Sensor Interface Market, By Industry
• Water & Wastewater Treatment
Global Actuator Sensor Interface Market, By Region
Global Actuator Sensor Interface Market, Key Players
• Phoenix Contact GmbH & Co. Kg
• HanKun (Beijing)Fluid Control Technology Company Ltd
• Katlax Enterprise Pvt Ltd
• Harithaa Power Engineers
• Wenzhou Tychen Fluid Equipment Co., Ltd.
• wuhan grat control valve co. ltd
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