Global Actuator Sensor Interface Market growing at a CAGR of 4.8% from 2023 to 2030
Category : IT And Telecommunications | Published Date : Jun 2023
Key Market Overview
The actuator sensor interface market is poised for strong expansion and is projected to reach USD 2,418.13 Million by 2030. The market was sized at USD 1,694.74 Million in 2022 and is predicted to grow at a compound annual growth rate of 4.8% during the period 2023-2030.
The report highlights the increasing adoption of actuator sensor interfaces in the automotive industry to control and monitor the performance of autonomous vehicles. Consegic Business Intelligence provides an inclusive research report on the actuator sensor interface market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Actuator Sensor Interface Market By Overview
The report analyses significant segments such as component, application, end-user, and region, to identify emerging trends and potential opportunities. The AS-interface power supply segment is expected to grow during the forecast period owing to the ability to operate at an ambient range of temperature from -25 to +70°C. In addition, the AS-interface power supply offers high efficiency (approximately 94%) resulting in reduced power losses and longer field life, further driving the market growth in upcoming years.
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Driver:
- Increasing adoption of AS-Interface in automated systems for signal transmission is driving the growth of the actuator sensor interface market.
- Rising demand for actuator control and sensors from robotics to perform various operations including perception, environment sensing, and navigation is accelerating the market growth.
- The growing adoption of AS-interface in several interoperable devices, homes, and buildings to provide efficient and sustainable solutions is boosting the market growth.
Restraints:
- High manufacturing cost associated with actuator sensor interfaces is restraining the growth of the market.
- Presence of alternatives including an Open Device Net Control System to offer improved productivity and uptime in comparison to an actuator sensor interface is hindering the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Component | AS-interface Slave, AS-interface Cable, AS-interface Gateway, AS-interface Power Supply, and Others |
| By Application | Building Automation, Material Handling, Drive Control, and Others |
| By End-User | Pharmaceuticals, Automotive, Metal and Mining, Food & Beverages, Chemicals, Oil & Gas, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for Actuator Sensor Interface Market is highly competitive with major players including ABB Group, Baumer Electric AG, Biehl+Wiedemann GmbHand, and Emerson Electric Co. that have a strong market position in current market circumstances. Further, the Actuator Sensor Interface market is expected to witness significant growth in coming years owing to the increasing adoption of advanced technologies and the growing application in the autonomous vehicles. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the Actuator Sensor Interface market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- ABB Group
- Baumer Electric AG
- Biehl+Wiedemann GmbHand
- Emerson Electric Co.
- IFM Electronic GmbH
- Pepperl+Fuchs GmbH
- Phoenix Contact GmbH & Co.
- Schneider Electric S E.
- Siemens AG
- Valmet Corporation