PUNE, India, July 10, 2017 /PRNewswire/ --
The report "AS-Interface Market by Component (AS-I Slave, AS-I Gateway, AS-I Power Supply, AS-I Cable), Application (Material Handling, Drive Control, Building Automation), Industry, and Geography - Global Forecast to 2023", published by MarketsandMarkets™, AS-Interface market is expected to be valued at USD 1,158.5 Million by 2023, growing at a CAGR of 4.3% between 2017 and 2023. Factors that are driving the growth of the market include the rise of adoption of process automation in the process industry; support from the government for the adoption of industrial automation in various industries; and simple, easy, and fast installation of AS-Interface system with a minimum number of cables.
Browse 38 Market Data Tables and 47 Figures spread through 128 Pages and in-depth TOC on "AS-Interface Market - Global Forecast to 2023"
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"AS-i gateway component in AS-Interface market expected to hold the largest market size during the forecast period"
AS-i master represents the connection to the controller or to a host fieldbus system. It is responsible for the link connection to the higher-level control system with other devices enabling the smooth flow of data and commands given to the slaves. The master communicates and manages data transfer from the data cable and checks the signals received, sets the parameters, sends commands to the slaves, and monitors the working of the slaves. It enables the effective controlling, monitoring, and execution of the manufacturing process.
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"The food & beverage industry expected to hold the largest market size and also expected to grow at the highest rate between 2017 and 2023"
The growth of food and industry is recognized by the increasing consumption of food & beverages. The packaged food industry includes baked goods, convenience food, dairy, and confectionaries, all require regular manufacturing that uses AS-Interface. AS-Interface cable makes the processing flow easy and smooth in conveying lines. The motors and controllers are connected with AS-Interface for the effective communication between the devices. This industry involves application such as material handling and drives control that enhances the growth of the AS-Interface market.
"The material handling application is expected to hold the major market share and also grow at the highest rate of the AS-Interface market in 2023"
AS-Interface is used in material handling that includes various activities such as loading and transporting the material from one place to another. The material handling uses AS-Interface in the airport for the baggage handling. The baggage handling system uses a large number of sensors that directly contact AS-interface that helps in precisely localizing the baggage on conveyor belts. The belt conveyors are preferred to transport bulk material due to their ability to transport a large variety of materials from point to point.
"The AS-Interface market in APAC is expected to hold the largest market share and also grow at the highest rate between 2017 and 2023"
The APAC region consists most of the developing countries such as India, China, and South Korea. The AS-Interface market in South Korea is mainly driven by the increasing applications in automobiles, shipbuilding, and mining, among others. AS-Interface cable is used in building automation for various purposes such as fire/smoke dampers, monitoring, and diagnostics. The existence of multiple infrastructure projects in South Korea drives the AS-Interface market. The APAC market for AS-Interface is also supported by various exhibitions and summits such as Industrial Open-Net Exhibition Japan 2017, CIIF Industrial Automation Show Shanghai 2017, Industrial Network Exhibition Japan (Osaka) 2017 that are expected to be held for promoting the AS-Interface technologies.
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The major players in the AS-Interface market includes Bihl+Wiedemann GmbH (Germany), ifm electronic gmbh (Germany), Siemens AG (Germany), Valmet Corporation (Finland), Pepperl+Fuchs GmbH (Germany), Baumer Electric AG (Switzerland), ABB Ltd. (Switzerland), Emerson Electric Co. (US), Phoenix Contact GmbH & Co. KG (Germany), and Schneider Electric SE (France).
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