Actuator Sensor Interface Market Synopsis
The global Actuator Sensor Interface market is expected to grow at USD 1,178.3 million by 2023, at 4.8% of CAGR during the forecast period of 2017 to 2023. The demand for the Actuator Sensor Interface slave is estimated to increase owing to its various applications in process industries. It has a small size and easy integration within the sensor and actuator.
The AS-Interface is used in material handling that includes various activities such as loading and transporting the material from one location to another. These are used in AS-Interface in the airport for baggage handling. The AS-interface creates a network connecting to various systems in an optimum operating plant, to minimize wastage and valuable resources. This process includes activities such as processing of water, refining of the impurities, distribution, and storage of water and many others. There are various benefits of AS-Interface that help propel that market growth as well. It saves hardware by reducing I/O cards, wiring and cabinets, fast error localization, transmission in real-time, and quick installation.
The Actuator Sensor Interface market is influenced by the rising demand in its end-use applications. Growing demand in industrial automation is another driver escalating the growth of the market. It enables effective controlling, monitoring, and execution of the manufacturing process. AS-Interface is utilized in automation applications, process control valves, conveyor control, electrical distribution systems, bottling plants, elevators, packaging machines, airport baggage carousels, and bottling lines. On the other hand, high cost of one-time tooling and restricted monitoring of the sensor function prove detrimental to the AS-Interface market. However, the market is bound to grow tremendously as AS-Interface is implemented in many sectors that enhances safety and productivity. For instance in food and beverage sector, it helps reduce installation costs, improves flexibility by connecting with PLCs, improves data flow by using AS-Interface cables attached to other devices and also provides constant power supply throughout all the system. Support from the government for the adoption of industrial automation in various industries also propels the market upward.
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Competitive Analysis
Valmet Corporation (Finland), ABB Group (Switzerland), Baumer Electric AG (Switzerland), Emerson Electric Co. (U.S), IFM Electronic GmbH (Germany), Siemens AG (Germany), Schneider Electric S E (France), Pepperl+Fuchs GmbH (Germany), Bihl+Wiedemann GmbH (Germany), Phoenix Contact GmbH Co. Kg (Germany)
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Market Segmentation
The global AS-Interface market has been segmented on the basis of component, application, Industry, and region. The market is segmented on the basis of component, which is comprised of AS-interface gateway, AS-interface slave, AS-interface cable and AS-interface power supply. AS-interface gateway serves as the link between the sensor/actuator level of AS-Interface and the upper-level bus systems. This enables availability of diagnostics information on safety-relevant input slaves directly in the cyclical I/O data in programmable logic controller. On the other hand, AS-interface cables provide common data and power transition through the use of a single master system. These advantages make this segment popular and also helps in making a positive impact on the AS-Interface market growth.
The AS-Interface market is segmented into application; they are building automation, drive control, and material handling. Replacing simple sensors with AS-Interface sensors and actuators is one of the most popular trends in automation currently. AS-I’s potential to cost-effectively replace the nest of wires that permeates most industrial sites is tremendously appealing across many industries, particularly in building automation. On the other hand, AS-I is vastly in demand in material handling and drive control sectors as it provides with simple integration of the drives into the control system, simple installation system and also helps increase savings in wiring costs and time.
The market is also segmented on the basis of industry. These industries are chemicals, paper, pharmaceuticals, metal and mining, and oil and gas. Many industries utilize AS-I as it provides easy integration for electronic and physical records. Through Actuator Sensor Interface, it is possible to check inventory for any location, and the results can be uploaded to the database, thus significantly saving cost and time. Deploying AS-I enables various industries to achieve operational excellence with increased production and lower maintenance.
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Regional Analysis
The AS-Interface market is extensively segmented into Asia Pacific, North America, Europe and Rest of the World. North America region accounts for the largest market share of close to 40%, thus is currently leading the global AS interface market. The key companies active in this region are ABB Group (Switzerland), Emerson Electric Co. (U.S), Pepperl+Fuchs GmbH (Germany), and many more.
On the other hand, the Europe market, owing to major AS-Interface manufacturing companies is projected to grow further in the foreseeable years. Market Research Future (MRFR) estimates that Asia Pacific will emerge as the fastest growing region. South Korea is mainly driven by the increasing AS-interface applications in automobiles, shipbuilding, and mining. AS-Interface proves to be cost-effective and smooth installation are some contributing factors towards the growth of the market in this region.
