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WISeKey’s Semiconductor Revenue in the United States Surges Despite Shortage in Semiconductor Manufacturing

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WISeKey’s Semiconductor Revenue in the United States Surges Despite Shortage in Semiconductor Manufacturing

U.S. IoT segment generated revenue of approximately $4.5 million in H1 2021, a 5% increase as compared to H1 2020; WISeKey expects this market to generate revenue of approximately $9.5 million for FY2021 due to increased semiconductors demand and sales for drones, routers, batteries, medical and NFT security

WISeKey’s strong cash reserves of $35.9 million, as of July 9, 2021, support investment in the U.S. market, which currently is the fastest growing market within its IoT/Cybersecurity segment

ZUG, Switzerland – July 20, 2021: Ad-Hoc announcement pursuant to Art. 53 of SIX Listing Rules – WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or the “Company”), a leading cyber security, IoT, and AI platform company, today announced that it has secured several major wins in the U.S. market for its microchip semiconductor based IoT technology, anti-counterfeiting, brand protection, EMV payment card and secure access products with leading U.S. providers of networking equipment, medical devices, smart building solutions, and financial services.

Thus, for the first half of 2021, the U.S. IoT segment generated revenue of approximately $4.5 million (unaudited) and it is expected to generate approximately $9.5 million for FY 2021.

“This U.S. IoT revenue generated by the WISeKey Semiconductors division located in South of France, should be considered strategic premium revenue, especially following the semiconductor manufacturing shortage in the U.S., a strategic reference market for the company. Because semiconductors are a crucial component of the 4th Industrial Revolution, strategic technologies (from smart cities, renewable energy and artificial intelligence to robots and cybersecurity), their design and manufacturing has become a geopolitical thorn. In the 20th century, oil was the supreme global resource. But shortages accelerated by the pandemic have prompted a 21st century catchphrase among policymakers and diplomats… “semiconductors are the new oil,” said Carlos Moreira, CEO of WISeKey.

WISeKey’s success in the U.S. is built on a clear vision and business strategy that allows us to generate revenue from IoT devices, cybersecurity services, and data and more importantly our Trusted Ecosystem and Vertical Platform.

As we move forward, the IoT it will quickly become the Internet of Everything (IoE), with more devices and objects connected and able to collect and transmit data over the internet, the WISeKey Vertical Platform potential for monetizing services, blockchain, AI and the data produced by these connected devices continues to grow. The total number of global IoT connections is expected to grow from $6 billion in 2015 to $27 billion in 2025 all of them requiring the type of chips and software offered by WISeKey. Global spending on IoT/IoE technology-based services, is now expected to reach $3 trillion by 2025.

The IoT will live up to its promise only if the connected devices, the data they generate, the business applications that control these devices and the services around them, can be fully trusted.  In today’s environment, where cyberattacks have become more common and increasingly sophisticated, there is an urgent need to fundamentally rethink the Security Stack for the IOT cloud. IoT-enabled services and products will generate vast amounts of data which, when well-analyzed, are very valuable to government organizations, product manufactures, corporations, and end-users. This revenue model relies on data trust and on IoT edge device control. Users can take advantage of this unique solution in the market by remotely being able to: uniquely identify and control an IoT Edge Device (activation/deactivation/revocation), securely provision (point to point secure update) the IOT Edge Device credentials and secure the messages in motion between Edge Devices and Business Applications.

The vertical integration of WISeKey’s unique Root of Trust and Identity technology with VaultIC’s hardware & software, and trust services for keys and certificates provisioning and life cycle, created the first ever comprehensive trusted end-to-end cybersecurity platform for people and objects (IoT) and gave WISeKey the unique ability to deliver the most secure Platform to its customers.

Further acceleration in revenue in USA is expected as the market growth and WISeKey deploys its platform with strategic partnerships with the SAP® PartnerEdge Program. The program gives partners access to resources, services and benefits that will help WISeKey build and maintain a successful partnership with SAP and optimize business results for clients. WISeKey has been working on IoT security by integrating OISTE/WISeKey’s Managed Cryptographic Root of Trust secure IoT Devices with devices leveraging SAP Leonardo® IoT.

Today, WISeKey employs a team of 165 people in Switzerland, France, Germany, Vietnam, USA, India, Japan and Taiwan, and continues to enlarge its global footprint through expansion in new areas.

“We are excited to have this backdrop of positive traction in the U.S. security market, which when combined with the solid foundation of our existing business that we have been growing over the last two decades, positions us well to take advantage of new expansion opportunities on a global scale,” said Richard Venia, US Sales Director for WISeKey.

“The growth potential that we have, as we continue to add talented professionals to our growing sales and support team in the US, is impressive and it’s great to be in the position where our secure products and services used in a wide variety of connected devices from our customers are ideally suited to meet the needs of business entities, financial institutions, government agencies, and end-users that are creating explosive revenue opportunities inside of the IoT market,” concluded Mr. Venia.

About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.).  WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.

Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.

Press and investor contacts:

WISeKey International Holding Ltd
Company Contact:  Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
[email protected]
WISeKey Investor Relations (US)
Contact:  Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
[email protected]

Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Predictive Maintenance Market worth $47.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

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Real-time analysis and decision-making will be made easier by developments in AI and IoT integration, which will drive the Predictive Maintenance Market in the future. Innovation will be fueled by prognostics, industry-specific solutions, and interoperability, while Predictive Analytics as a Service (PAaaS) models will make advanced predictive maintenance skills more accessible to all.
CHICAGO, March 29, 2024 /PRNewswire/ — The Predictive Maintenance Market is estimated to grow from USD 10.6 billion in 2024 to USD 47.8 billion in 2029, at a CAGR of 35.1% during the forecast period, according to a new report by MarketsandMarkets™. The driving factors for the Predictive Maintenance Market include the widespread adoption of emerging technologies like IoT sensors and data analytics, enabling real-time monitoring of equipment health. The integration of machine learning (ML) and artificial intelligence (AI) algorithms allows for predictive analysis of potential failures, reducing downtime and optimizing asset performance. Organizations are increasingly focused on cost savings and operational efficiency, driving the need for proactive maintenance strategies to minimize unplanned downtime and maximize productivity. Additionally, regulatory requirements and the shift towards predictive analytics-driven decision-making further contribute to the growth of the Predictive Maintenance Market.

Browse in-depth TOC on “Predictive Maintenance Market”
280 – Tables 60 – Figures300 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8656856
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2029
Base year considered
2023
Forecast period
2024–2019
Forecast units
USD Billion
Segments Covered
Component (Hardware, Solution [Solution by Deployment mode {Cloud (Public, Private, Hybrid) & On-premises}] & Services), Technology (Analytics & Data Management, Artificial Intelligence, IoT Platform, Sensors & Other Devices), Technique (Vibration Analysis, Infrared Thermography, Acoustic Monitoring, Oil Analysis, Motor Circuit Analysis, Other Techniques) Organization size (Large Enterprises, SMEs), Vertical (Energy & Utilities, Manufacturing, Automotive & Transportation, Aerospace & Defense, Construction & Mining, Healthcare, Telecommunications) and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered
IBM (US), ABB (Switzerland), Schneider Electric (France), AWS (US), Google (US), Microsoft (US), Hitachi (Japan), SAP (Germany), SAS Institute (US), Software AG (Germany), TIBCO Software (US), Altair (US), Oracle (US), Splunk (US), C3.ai (US), Emerson (US), GE (US), Honeywell (US), Siemens (Germany), PTC (US), Dingo (Australia), Uptake (US), Samotics (Netherlands), WaveScan (Singapore), Quadrical Ai (Canada), UpKeep (US), Limble (US), SenseGrow (US), Presage Insights (India), Falcon Labs (India).
By component, the services segment to account for higher CAGR during the forecast period.
The services segment plays a crucial role in the Predictive Maintenance Market, serving as a core component essential for the efficient operation of software solutions. Many companies are turning to intelligent devices, robust AI systems, and Industrial Internet of Things (IIoT) solutions to monitor the health and productivity of critical equipment, aiming to minimize costly production shutdowns. Remote monitoring of machinery and equipment has become a significant priority for organizations grappling with challenges in detecting machinery failures. The adoption of predictive maintenance services, including IoT, has become imperative to mitigate the risks and failures of machines across various industries. Within the services segment, managed and professional services are considered vital for enhancing overall process efficiency.
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By Technique, Vibration Analysis is expected to hold the largest market size for the year 2024.
Vibration analysis is a crucial technique employed primarily for high-speed rotating equipment in predictive maintenance strategies. It enables technicians to monitor the vibrations of machines using handheld analyzers or real-time sensors integrated into the equipment itself. Machines operating optimally exhibit specific vibration patterns, which can be compared against known standards. However, as components like bearings and shafts wear down or develop faults, they generate distinct vibration patterns, signaling potential issues. By continuously monitoring equipment vibrations, trained technicians can identify deviations from normal patterns and diagnose problems early on. The range of issues detectable through vibration analysis is extensive and includes misalignment, bent shafts, unbalanced components, loose mechanical parts, and motor irregularities.
By Vertical, Automotive & Transportation is projected to grow at the highest CAGR during the forecast period.
As automotive technology progresses rapidly, traditional fault detection methods are inadequate for ensuring vehicle smoothness. However, modern automobiles are equipped with various sensors, instruments, and cameras that generate diverse data. Leveraging this data, past service records, and employing AI and ML, predictive maintenance in the automotive & transportation sector emerges as a powerful solution to enhance vehicle performance and minimize downtime. The surge in intelligent technologies has spurred predictive maintenance investments in transportation, particularly accelerated by the Covid-19 crisis, where consumer preferences shifted towards individual mobility due to health and safety concerns, leading to an increased demand for cars. This demand surge, coupled with slowed new vehicle production, is driving the resurgence of the used car market. Predictive maintenance plays a crucial role in reducing the lifespan of used cars and preventing unexpected downtimes. Solutions like IBM’s monitoring for connected vehicles and collaborations between automakers and tech companies like Ford, CARUSO, and HIGH MOBILITY showcase the industry’s commitment to leveraging predictive maintenance for improved operations and customer services.
Middle East & Africa is expected to grow at the second-highest CAGR during the forecast period.
The Middle East & Africa (MEA) lacks technological development as well as primary business growth in many verticals. Slow economic growth and geopolitical conditions are the major hurdles to the growth of the Predictive Maintenance Market in the region. Moreover, it generates the majority of the revenues from natural resources. The government policy in the United Arab Emirates (UAE) is supportive of the industry with the vision to be one of the most technologically advanced nations by 2022. The proliferation of telecom and IT-enabled industry in the African countries is steering the growth of AI-based IoT companies in the region. The major reasons that are said to influence the growth of the Predictive Maintenance Market in the region are the increasing investments in data center infrastructures and the growing number of high-growth start-ups. Only a few countries, such as the UAE, Israel, and Qatar, across the region, are advancing in this market at an economical pace. The UAE, Israel, and Qatar have demonstrated a strong commitment toward the development and implementation of AI and IoT technologies.
Top Key Companies in Predictive Maintenance Market:
The major predictive maintenance hardware, solution and service providers include IBM (US), ABB (Switzerland), Schneider Electric (France), AWS (US), Google (US), Microsoft (US), Hitachi (Japan), SAP (Germany), SAS Institute (US), Software AG (Germany), TIBCO Software (US), Altair (US), Oracle (US), Splunk (US), C3.ai (US), Emerson (US), GE (US), Honeywell (US), Siemens (Germany), PTC (US), Dingo (Australia), Uptake (US), Samotics (Netherlands), WaveScan (Singapore), Quadrical Ai (Canada), UpKeep (US), Limble (US), SenseGrow (US), Presage Insights (India), Falcon Labs (India). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Predictive Maintenance Market.
Recent Developments:
In January 2024, Siemens and AWS deepened their collaboration to simplify the development and scaling of generative artificial intelligence (AI) applications for businesses across various industries and sizes. This partnership enables domain experts in fields like engineering, manufacturing, logistics, insurance, or banking to leverage advanced generative AI technology to create and enhance applications efficiently.In December 2023, ABB enhanced its ABB Ability Field Information Manager (FIM 3.0) to provide system engineers and maintenance teams with enhanced connectivity and expanded reach across the latest communication protocols.In June 2023, Qatar Airways and Google Cloud partnered to create innovative data and artificial intelligence (AI) solutions tailored for the airline industry. This collaboration will concentrate on enhancing areas like predictive maintenance, passenger experience, and cargo operations, aiming to elevate efficiency and customer satisfaction within the airline sector.In April 2023, TrendMiner launched an updated version of its predictive maintenance software, the Digital Twin Manager. This release includes enhanced support for cloud data sources from AWS and Microsoft, along with interactive search functionality, enabling users to make data-driven decisions more efficiently.In January 2023, AVEVA, a global leader in industrial software, finalized its acquisition by Schneider Electric. AVEVA’s strategic objective is to emerge as the top Software as a Service (SaaS) provider in software and industrial information, transitioning to a subscription-only business model.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=8656856
Predictive Maintenance Market Advantages:
Through proactive equipment maintenance based on data-driven insights, the prevention of expensive unplanned downtime, and the reduction of repair costs, predictive maintenance assists organisations in cutting maintenance costs.Predictive maintenance increases equipment availability and uptime by anticipating possible equipment faults before they happen, guaranteeing continuous operations and maximising output.By locating and resolving underlying problems that may compromise the dependability and efficiency of equipment, predictive maintenance extends the life of assets and lowers the need for untimely replacements.Predictive maintenance reduces the likelihood of mishaps, injuries, and interruptions to operations brought on by malfunctioning equipment by anticipating possible equipment breakdowns.By scheduling maintenance jobs more effectively, predictive maintenance helps businesses minimise interruptions to existing operations and match maintenance duties with production schedules.Using data analytics and machine learning algorithms, predictive maintenance produces actionable insights that help with equipment investments, resource allocation, and maintenance strategy selection.Predictive maintenance ensures continuous functioning and customer satisfaction by proactively addressing equipment concerns, minimising unplanned downtime and production losses.Status-based maintenance techniques, which optimise maintenance resources and cut down on pointless inspections and repairs by triggering maintenance actions based on real-time equipment status data, are made possible by predictive maintenance.Report Objectives
To describe and forecast the Predictive Maintenance Market, in terms of value,by component, technology, technique, organization size, and verticalTo describe and forecast the Predictive Maintenance Market, in terms of value,by region—North America, Europe, Asia Pacific, Middle East & Africa and Latin AmericaTo provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the overall Predictive Maintenance MarketTo profile key players and comprehensively analyze their market positions in terms of ranking and core competencies2, along with detailing the competitive landscape for market leadersTo analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the Predictive Maintenance MarketTo provide the illustrative segmentation, analysis, and projection of the main regional marketsBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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Procurement Analytics Market- Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/operational-predictive-maintenance-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source:https://www.marketsandmarkets.com/PressReleases/operational-predictive-maintenance.asp
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AeC Recognized by Frost & Sullivan for Leading the Customer Relationship Industry in Brazil

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AeC is the largest customer relationship company in Brazil and its reliable and customized customer care solutions help businesses create seamless end-user experiences.
SAN ANTONIO, March 29, 2024 /PRNewswire/ — Frost & Sullivan recently researched the customer experience outsourcing services industry and, based on its findings, recognizes AeC with the 2023 Company of the Year Award. AeC is connecting technology with outstanding customer service to increase efficiency and optimize the customer’s business journey. AeC leverages artificial intelligence (AI), data intelligence, machine learning (ML), natural language processing (NLP), fraud prevention, and real human experiences to guarantee an optimal customer experience (CX) in its clients’ business operations.

The company helps businesses deliver a remarkable CX to remain competitive in the marketplace and meet its clients’ demands. It consistently aims to enhance end-user CX by carefully analyzing customer data, testing new business models, and adjusting its processes based on customer feedback.
AeC drives its clients’ digital transformations with innovative tools that provide superior business process outsourcing (BPO) services. The company launched Vision, an advanced and intuitive solution that allows managers to track agents’ performance and deliver effective support. Moreover, its AeC HR technology platform, Robbyson, assists businesses by increasing engagement and efficiency with AI to automatically estimate, suggest, and forecast outcomes.
“With a legacy of BPO services leadership, the company’s compelling value proposition underpins its sustained success. AeC holds a solid position with a diversified client base, serving industry leaders of every market, including four of the top five Brazilian unicorns and two of the top five energy organizations in Brazil,” said Sebastian Menutti, industry principal at Frost & Sullivan.
With its customer-centric approach, the company provides consulting and highly customized projects for its clients. AeC bases its operations on the core principle that its success depends on customer satisfaction. For this reason, the company meets with clients at the pre-sales stage to identify their specific business requirements and challenges to develop tailor-made solutions.
“The company acknowledges that offering a complete product portfolio that aligns with broader market trends (e.g., omnichannel customer services, automation capabilities, and tools that address security challenges) is a key differentiator. Therefore, it constantly leverages technology to improve the efficiency and effectiveness of its services, such as automating processes and using data analytics to gain insights into end users’ behaviors and preferences,” noted Valentina Barcia, best practices research analyst at Frost & Sullivan.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Contact:
Kristen MooreP: +1 (210) 247-3823E: [email protected]
About AeC
AeC is a Brazilian technology company specializing in customer relations. Leading by innovation, the most outstanding is the warm way of dealing with people and applying cutting-edge technology in its processes, such as artificial intelligence, cloud services, analytics, and automation tools. For over 30 years, it has developed customized consumer experience solutions in the market, helping companies in different segments, such as digital businesses, fintech, financial sector, telecommunications, services, retail, insurance, energy, and health. Currently, AeC has more than 43,000 employees and is certified by the Great Place to Work Institute (GPTW).
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Actuators Market worth $94.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

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actuators-market-worth-$94.8-billion-by-2029-–-exclusive-report-by-marketsandmarkets™

CHICAGO, March 29, 2024 /PRNewswire/ — The Actuators market is estimated at USD 67.7 billion in 2024 and is projected to reach USD 94.8 billion by 2029, at a CAGR of 7.0 % from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth can be attributed to growing industrial automation and use of robots in various sectors like manufacturing and transportation, Developments in areas like sensor technology, connectivity, and control systems, The increasing demand for actuators is fueled by the expansion of sectors like healthcare (medical devices), oil & gas, and aerospace & defense, and the need for improved process control, energy efficiency, and safety regulations in various industries.

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Browse in-depth TOC on “Actuators Market” 300 – Tables175 – Figures350 – Pages
Actuators Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 67.7 billion
Estimated Value by 2029
$ 94.8 billion
Growth Rate
Poised to grow at a CAGR of 7.0%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Actuation, Application, Type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Issues of leakage in pneumatic and hydraulic actuators
Key Market Opportunities
Increased spending on renewable sources of energy for power generation
Key Market Drivers
Rapid industrialization and utilization of robotics
The Electric segment held the largest growth rate in the Actuators market by actuation.
By actuation, the Actuators market has been segmented into electric, hydraulic, pneumatic, and others. electric Segment to hold the highest growth rate during the forecast period. Electrical actuators use electricity to produce motion. These actuators can be further classified into solenoid actuators and motor-driven actuators. A solenoid used in an electric actuator works on the principle of electromagnetism. Electrical actuators provide control and acceleration at higher speeds. The force for applying thrust can be managed without the requirement for compressed air and the related infrastructure, and hence the total energy consumption in these actuators is lower. Electrical actuators can be used for various applications where linear as well as rotary actuation is required. They can be used for low torque as well as high torque requirements.
The vehicle equipment segment is expected to account for the largest share of Actuators by application in 2024.
By application, the Actuators industry is segmented into industrial automation, robotics, and vehicle equipment. The vehicles and equipment segment includes actuators used in automotive, aircraft, ships, and defense vehicles. These can be either hydraulic, pneumatic, electrical, or mechanical actuators. Actuators are widely used in various systems and sub-systems of an automobile, aircraft, ships as well as defense vehicles.
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Asia Pacific accounts for the largest market share in 2024.
The Actuators market has been studied in North America, Europe, Asia Pacific, Middle East, and Rest of the World. The Asia Pacific region accounts for the largest market share in 2024 as well as throughout the forecast period due to the increasing demand for actuators in the region to enhance the growth of the market. India is expected to show the highest growth rate in Asia Pacific Region for Actuators market.
Major players operating in the Actuators companies are SMC Corporation (Japan), Rockwell Automation (US), Curtiss-wright Corporation (US), ABB Ltd (Switzerland), and Parker Hennifin Corporation (US).
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Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting
Related Reports: 
Aircraft Sensors Market Size, Share & Growth Analysis Report by Aircraft Type (Fixed-wing, Rotary-wing, UAVs, AAM), Application (Engine, Aerostructures, Fuel & Hydraulic, Cabin), Sensor Type, End Use (OEM, Aftermarket), Connectivity (Wired, Wireless) and Geography- Global Forecast to 2027
Military Actuators Market by Application (Air, Land, Naval), System (Electrical, Hydraulic, Pneumatic, Mechanical), Component (Cylinders, Drives, Servo Valves, Manifolds), Type (Linear, Rotary), and Region (2019-2024)
Aircraft Actuators Market Size, Share & Industry Growth Analysis Report by Installation Type (OEM & Aftermarket), System, Technology (Hydraulic, Electric Hybrid, Mechanical, Pneumatic, and Full Electric), Type, Platform, Aircraft Type (Fixed Wing and Rotary Wing) and Region – Global Forecast to 2027
Aircraft Engine Market Size, Share & Industry Growth Analysis Report by Type (Turboprop, Turbofan, Turboshaft, Piston Engine), Platform (Fixed wing, Rotary Wing, UAV), Component (Compressor, Turbine, Gear Box, Exhaust Nozzle, Fuel System), Technology, and Global Growth Driver and Industry Forecast to 2026
Avionics Market by Platform (Military Aviation, Commercial Aviation, General Aviation, Special Mission Aviation), Fit, Systems and Region (North America, Europe, Asia Pacific, Middle East and Rest of the World) – Global Forecast to 2030
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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