The smart pneumatics market is dominated by Asia-Pacific in terms of highest market share and is also expected to grow at the highest CAGR during the forecast period. Asia-Pacific has a significant concentration of component manufacturers, especially China. Moreover, there is an increase in the industrial applications of smart pneumatics in industries such as oil gas, healthcare, aviation, and automotive. On the other hand, North America is estimated to hold the second largest market by 2023. Furthermore, North America is an early adopter  in terms of industrial development and adoption of smart factories.

Which Top Market Participants are Consider for the highest Smart Pneumatics market share?

Emerson Electric Co. (US), Festo Corporation (US), Parker Hannifin Corporation (US), Bimba Manufacturing Co. (US), Rotork PLC (UK), Rotex Automation Limited (India), Thomson Industries Inc. (US), Aventics GmbH (Germany), Cypress EnviroSystems Corp. (US), Ningbo Smart Pneumatic Co. Ltd (China).

Due to a rise in phishing activities, COVID-19 has substantially increased the adoption of cloud infrastructure and services. In addition, COVID-19 has significantly increased the security budget, which has resulted in a large increase in cloud infrastructure and services. According to the findings of a study conducted by Microsoft and published in August 2020, 36% of the total 800 respondents said that the budget for cybersecurity had risen as a consequence of the pandemic outbreak. Additionally, 42 percent of those who answered the survey said that the company altered its personnel by adding more security experts.

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