Actuator Sensor Interface Market to hit $2,418.13 Mn by 2030, Predicts Consegic Business Intelligence

New York, June 13, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Actuator Sensor Interface Market” published by Consegic Business Intelligence, the market was worth USD 1,694.74 Million in 2022 and is anticipated to reach over USD 2,418.13 Million by the year 2030, growing at a CAGR of 4.8%.

The actuator sensor interface (AS-Interface) is referred to as an industrial networking solution designed for connecting electronic devices including rotatory encoders and analog inputs in various manufacturing processes by utilizing a two-conductor cable. The actuator-sensor interface enables the communication between the actuator and the sensor to work effectively within the control system. Additionally, the interface involves electrical connections, signal conditioning, and data transmission protocols to facilitate the exchange of information in an electronic system.

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The increasing application of actuator sensor interfaces in the grip control system offering improved stability, acceleration, and braking to automobiles serves as a significant factor in driving the growth of the market. The sensors allow the vehicle’s control system to react with the road surface by utilizing the energy from electric motors, resulting in an efficient and smoother breaking experience. For instance, in January 2022, Volvo Trucks launched an advanced safety feature for electric trucks using active grip control technology. The technology employs an advanced actuator sensor interface to improve safety while applying breaks in slippery conditions.

Furthermore, the increasing demand for actuator sensor interfaces in autonomous vehicles ensuring accurate responses to navigation commands and sensor inputs is expected to create opportunities for market growth. Additionally, autonomous vehicles require a wide array of sensors namely cameras, LiDAR, radar, and ultrasonic sensors, to perceive the environment, and actuator sensor interfaces facilitate the integration of such sensors, enabling sensor fusion and data processing. However, the high cost associated with actuator sensor interfaces is restraining the growth of the market.

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Actuator Sensor Interface Market Growth Drivers:

• 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 sector 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.

Opportunities

• The increasing demand for actuator sensor interfaces in autonomous vehicles ensuring accurate responses to navigation commands and sensor inputs is expected to create opportunities for market growth.

Global Actuator Sensor Interface Market Segmentation Details:

Based on Component, the AS-interface gateway segment contributed the largest shares to the market growth in 2022. The growth of the market is endorsed by the ability of the AS-interface gateway to optimize energy usage along with reducing costs and carbon dioxide emissions. Furthermore, the increasing adoption of AS-interface gateway in home energy products is also contributing significantly in accelerating the market growth.

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Based on Application, the material handling segment offered substantial shares to the global actuator sensor interface market in the year 2022. The growth is attributed to the ability of the actuator sensor interface to provide improved conductivity and durability for the easy handling of materials in electronic devices and systems. Additionally, the actuator sensor interface simplifies the wiring process, reduces installation time, and enables efficient communication between the conveyor components further driving the growth of the market.

Based on End-User, the automotive industry holds the maximum share to the market growth in the year 2022. The growth of the market is attributed to the increasing utilization of AS interface in motor control systems to enable communication between actuators and sensors involved in engine management, fuel injection, ignition control, and exhaust systems. Furthermore, actuator and sensor control offer enhanced security, rich connectivity, and functional safety capabilities bolstering the growth of the global actuator sensor interface market.

Based on region, North America has been a major contributor to the growth of the actuator sensor interface market. The growth is attributed to the robust and diverse manufacturing sector, ranging from automotive and electronics to food and beverages. The industries require efficient and reliable automation solutions that raise the demand for actuator sensor interface to offer reliable solutions for effective network communication, thus contributing notably in driving the market growth.

Recent Developments

• In September 2022, Cambridge Mechatronics launched Shape Memory Alloy (SMA) sensor shift actuator for optical image stabilization (OIS) to improve the stability of the cameras.
• In July 2022, SAUTER introduced a new generation of IoT-capable actuators to allow semi-autonomous or autonomous control in ventilation, heating, and air conditioning. The smart actuator has advanced communication interfaces and is widely installed in building automation systems.

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List of Major Global Actuator Sensor Interface Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new machines. The following are major market players operating in the market environment —

• 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

Global Actuator Sensor Interface Market Segmentation: 

• By Component
  • AS-interface Slave
  • AS-interface Cable
  • AS-interface Gateway
  • AS-interface Power Supply
  • Others
• By Application
  • Building Automation
  • Material Handling
  • Drive Control
  • Others
• By End-User
  • Pharmaceuticals
  • Automotive
  • Metal and Mining
  • Food & Beverages
  • Chemicals
  • Oil & Gas
  • Others

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Key Questions Covered in the Actuator Sensor Interface Market Report

• What will be the potential market valuation for the actuator sensor interface industry by 2030?

• The market valuation for the actuator sensor interface is expected to be approximately USD 2,418.13 Million by 2030 driven by the increasing adoption of AS interface in autonomous vehicles.

• Based on current market trends and future predictions, which geographical region will have the largest impact on the Actuator Sensor Interface Market's growth in the coming years?
  • Asia Pacific is anticipated to have the largest impact on the Actuator Sensor Interface Market during the forecast period owing to the expanding industrial automation that increases the demand for advanced technologies including actuator sensor interface.
• What specific segmentation details are covered in the Actuator Sensor Interface Market report, and how is the dominating segment impacting the market growth?
  • The report consists of segments including component, application, end-user, and region. Each segment has a key dominating sub-segment being driven by industry trends and market dynamics. For instance, the component segment has witnessed the actuator sensor interface gateway as the dominating segment in the year 2022, driven by the ability to optimize energy usage and aid in reducing costs and carbon dioxide emissions.
• What specific segmentation details are covered in the Actuator Sensor Interface market report, and how is the fastest segment anticipated to impact the market growth?
  • The report consists of segments including component, application, end-user, and region. Each segment is projected to have the fastest-growing sub-segment driven by industry trends and drivers. For instance, in the application, the drive control sub-segment is anticipated to witness the fastest CAGR growth during the forecast period. The growth is attributed to the increasing use of AS-interface technology in drive control applications to facilitate communication and control between drives and the control system.

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