Actuator Sensor Interface Market
AS-Interface or actuator sensor interface is a global standard used in replacing conventional cable and wiring systems. It can be transfer signals and power along a single cable line. Its low installation costs and compatibility with programmable logic controllers and fieldbuses has led to its implementation in latest electronic wiring architecture. Market Research Future’s (MRFR) report on the AS-Interface market sheds light on various in-house cabling architecture and nuances on implementation of AS-Interface. The report focuses on estimations on during the forecast period (2020-2026) while assessing the impact of the COVID-19 pandemic.
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The global AS-Interface market size can balloon to USD 1,178.3 million by 2023. It can showcase a CAGR of 4.8% over the forecast period.
The market is driven by rise in process automation, rapid installation of AS-Interface, and government support for industrial automation. Replacement of electrical cables with AS-Interface owing to rise in automation can bode well for the market. Preferences of fieldbuses for ensuring smooth communication between actuators and sensors can drive market demand. Benefits of low costs, flexibility, interoperability, and simplicity can continue to sustain market growth.
The COVID-19 outbreak has accelerated the demand for actuator-sensor interface as companies embrace automation and adoption next-generation technologies. Focus on faster product to market, efficiency, product customization, and new business models can drive the market demand effectively during the period.
By component, the market is segmented into AS-Interface power supply, AS-Interface gateway, AS-Interface cable, and AS-Interface slave. The AS-Interface slave component is set to display a stupendous growth rate over the forecast period owing to applications in various processes. On the other hand, the AS-Interface gateway component can command a huge market share owing to its use as a medium between the interface and upper-level bus systems. Availability of diagnostics on safety-related valves in a programmable logic controller can be gleaned easily as a result.
By application, it is segmented into drive control, material handling, building automation, and others. The material handling application can display a strong growth rate over the forecast period owing to its use in handling heavy loads and transportation from source to destination. The AS-Interface can create a network for connecting various systems for minimizing wastage of valuable resources and time. On the other hand, the drive control application can assume the second position in the market owing to drive solutions lowering maintenance and servicing costs.
By industry, the AS-Interface market caters to water & wastewater treatment, oil & gas, food & beverages, paper, chemicals, metal and mining, pharmaceuticals, automotive, and others. The water & wastewater treatment industry is expected to command a huge demand in the market owing to focus on purification of water. Need for effective communication between various machines for refining of impurities, processing of water, and its storage and distribution can bode well for the market.
IFM Electronic GmbH, Valmet Corporation, Schneider Electric S E, Phoenix Contact GmbH & Co. Kg, ABB Group, Pepperl+Fuchs GmbH, Siemens AG, Bihl+Wiedemann GmbH, Baumer Electric AG, and Emerson Electric Co. are notable players of the global AS-Interface market. Collaborations, acquisitions, and new product launches are major strategies of prominent players in the market.
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are major regions analyzed for measuring the growth of the global AS-Interface market.
North America had dominated the market with a share of approximately 40%. It can expand its percentage over the forecast period owing to presence of hardware vendors and need for interfaces for managing processes in the manufacturing sector.
Europe follows North America in global market demand and will perform superbly owing to the demand for AS-Interface in chemicals, pharmaceuticals, electronics, and automobile industries. The need for effective mediums and communication systems to disseminate signals through various components and processes can drive the demand in the region.