Global Actuator Sensor Interface (AS-i) Systems Market 2016-2020
Our team recognizes the following companies as the key players in the global actuator sensor interface (AS-i) systems market: Bihl+Wiedemann, Baumer, Ifm Electronic, Peperl+Fuchs, StoneL, and Siemens.
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Commenting on the report, an analyst from our team said: “Rise in automation in process industries will be a key trend for market growth. The process industries such as food and beverage, oil and gas, paper, and pharmaceutical employ manufacturing process that converts raw materials into finished goods. Therefore, these industries require a high degree of automation to carry out manufacturing operations. Therefore, manufacturers in the process industries are investing a significant amount of money in technologies to automate their complex manufacturing processes.”
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According to the report, emergence of new and innovative Fieldbus solutions will be a key driver for market growth. The digitization of the process signals and the associated decentralization are paving the way for the wider adoption of open Fieldbus system. Also, the development of open Fieldbus in power plants has revolutionized the structure of control systems. Open Fieldbus technology enables shifting central functions into field devices and leads to decentralized structures in the automation systems. These decentralized structures minimize the costs for wiring and assembly and increase the availability. Improved maintenance and diagnosis through smart instrumentation are also increasing the demand for open Fieldbus. It can also help cut costs during installation, commissioning, and operation, and in space requirements. Thus, the introduction of the open Fieldbus technology for instrumentation is closing the gap of digital data communication between automation systems and field devices.
Further, the report states that the fluctuation in oil prices has adversely affected the demand for lower-level networking in the oil and gas industry. Members of Organization of the Petroleum Exporting Countries (OPEC) such as Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, and Venezuela control more than 40% of world’s oil supply. It is estimated that the mid-2014 oil price crash, from a peak of above $100 a barrel to below $50 a barrel, was because OPEC refused to cut oil production. The supply of oil had exceeded the demand and this had caused the prices to decline. The demand for oil had reduced especially from Europe and China. The fluctuations in oil prices decreased the CAPEX of the oil companies in 2015. For instance, Shell had to cut spending by $15 billion and Chevron had announced a cut of $5 billion in 2015. Such budget cuts are likely to pose a huge challenge for the AS-i systems market because the oil and gas companies are expected to reduce the capital spending on new installations of AS-i network in the plants due to fluctuations in oil prices.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit-https://marketreportscenter.com/reports/383365/global-actuator-sensor-interface-systems-market-2016-2020
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