Artificial Intelligence
Global Hydraulic Cylinder Market Size, Share & Industry Trends Analysis Report By Function, By Specification, By Bore Size, By Application, By Industry, By Regional Outlook and Forecast, 2021 – 2027
New York, May 06, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Hydraulic Cylinder Market Size, Share & Industry Trends Analysis Report By Function, By Specification, By Bore Size, By Application, By Industry, By Regional Outlook and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06273354/?utm_source=GNW
It’s a device that converts mechanical force into linear motion. The tube of a hydraulic cylinder has a rod protruding out on one side. To avoid friction, the piston separates the internal rod side from the internal cap side of the cylinder. For smooth operation, fluid is pumped into either side of the cylinder to expand or retract the piston rod.
A hydraulic cylinder is a component of the hydraulic system of a machine. Put simply, a hydraulic cylinder is a hydraulic actuator that converts hydraulic energy into a mechanical movement to provide linear movement. The hydraulic cylinder is similar to a muscle in that it causes movement using the machine’s hydraulic system – so it is similar to a muscle.
The medium of the hydraulic transmission is oil. The basic principle of hydraulics is that when a power machine rotates the pump, a volume flow is created. The hydraulic system’s pressure is determined by the load created by the cylinder or valve, which then resists the flow of the liquid created by the hydraulic pump. Pascal’s law states that pressure spreads evenly in all directions in the system and has an equal effect on all hydraulic system closed spaces’ surfaces and this effect is put at work in this mechanism.
A simple ram-type cylinder is made up of a cylindrical tube, and a steel rod that is inserted and sealed inside the tube. A pressurized fluid is pumped into the cylinder, where the circular bottom of the tube is subjected to pressures of up to 3000 psi or more. As long as the mass on the rod is less than the force generated against the rod by the fluid, the pressured fluid will push the rod out of the cylinder. It should be highlighted that motion is created by force, not flow; the generation of movement by flow is a common fallacy that will be addressed another day.
COVID-19 Pandemic
The outbreak of the COVID-19 pandemic has negatively impacted various business sectors across the world. Various impositions like lockdown, social distancing and ban on imports & exports have impacted the production and distribution of various goods and services, which were considered as non-essential by the governments. Many enterprises in the hydraulic cylinders industry were obliged to temporarily suspend operations due to the COVID-19 pandemic, in order to comply with new government rules aimed at preventing the disease’s spread. This pause in activities has a direct influence on the market’s revenue flow.
Market driving factors
Substantial Demand from The Construction Industry
Construction projects are progressively growing in size and complexity. Despite the fact that the COVID-19 pandemic had an impact on the construction industry, there has been a strong recovery in the industry following the pandemic, mainly owing to growing infrastructure spending in APAC and recovering European infrastructure investments. Infrastructure investments are accelerating in emerging economies such as China, India, Indonesia, and other countries due to rising urbanization. Numerous new infrastructure development plans and projects are in the works, mostly in developing countries like India and China, which would eventually drive construction equipment demands.
Rising Demand For Lifting Machinery From The Shipping Industry
Hundreds of feet of cargo containers of various sizes and weights are routinely piled in dockyards. Containers with typical sizes of 20, 40, 45, 48, and 53 feet and weights of 30 to 42 tons can be found all over the world. Lifting machinery is used to transport these large containers. Shipping is the most essential means of international commerce facilitation on the planet. Ships deliver the bulk of goods, including electronics, autos, textiles, raw metals, and oil and gas. The rise of the shipping sector is fueled by favorable institutional and technological factors such as the adoption of industrial IoT and government backing, which supports the demand for lifting equipment at ports.
Market restraining factors
High Costs Of Manufacturing And Maintenance Of Hydraulic Cylinders
In the production of a high-quality hydraulic cylinder, metal forging and accurate engineering are required. Hydraulic cylinders are made up of various parts that must be assembled, including pistons, cylinder barrels, piston rods, cylinder bases, cylinder heads, and cylinder seals. Small and medium-sized businesses (SMEs) face cost constraints when it comes to entering the hydraulic cylinder industry. Hydraulic cylinders have ongoing maintenance expenditures in addition to the initial product price.
Function Outlook
Based on Function, the market is segmented into Double-acting, and Single-acting. The double-acting segment acquired the largest revenue share in the hydraulic cylinder market in 2020. These cylinders are employed in aircraft, automotive, agriculture, and a variety of other industries because of their retraction properties. Mobile applications like lifting equipment, earth moving equipment, forklifts, and heavy trucks have a larger demand for these cylinders. Double-acting hydraulic cylinders are used to open and close drawers in presses and chippers, as well as all forms of lifting and lowering machines like excavators and cranes.
Specification Outlook
Based on Specification, the market is segmented into Welded, Tie Rod, Telescopic, and Mill Type. The tie rod segment observed a substantial share in the hydraulic cylinder market in 2020. Increasing the use of agricultural equipment for farming in order to increase production capacity in order to keep up with the rising population rate will boost industrial dynamics. According to the International Trade Administration, the Russian agricultural sector, with 220 million hectares of land, has the potential to strengthen the economy.
Bore Size Outlook
Based on Bore Size, the market is segmented into 50–150 MM, <50 MM, and >150 MM. The greater than 151 mm segment procured a significant revenue share in the hydraulic cylinder market in 2020. This is due to an increase in the popularity of exclusive quality and warranty schemes in manufacturing plants for the greater than 150 mm segment.
Application Outlook
Based on Application, the market is segmented into Mobile, and Industrial. The mobile segment acquired the largest revenue share in the hydraulic cylinder market in 2020. Hydraulic cylinders are required for the operation of mobile equipment such as excavators, loaders, and cranes. Hydraulic cylinders are used in earthmoving, material handling, mining, and the military in the mobile equipment business. The demand for hydraulic cylinders in mobile applications will grow as industrialization and building activities expand.
Industry Outlook
Based on Industry, the market is segmented into Construction, Aerospace, Material Handling, Mining, Agriculture, Automotive, Marine, Oil & Gas, AND Others. The agriculture segment observed a promising revenue share in the hydraulic cylinder market in 2020. The agriculture industry is expanding as more machines are used to do difficult jobs, such as planting vegetables and plowing fields. Hydraulic cylinders are used in practically all agricultural equipment for lifting and movement control, from pecan tree shakers to sugar cane harvesters, automated bale trucks to sprayer booms. The agriculture business is under pressure to supply global food demand due to rising population and decreasing environmental conditions. This has resulted in a rise in investments in precision agriculture machines, which is projected to stimulate demand for hydraulic cylinders.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific region acquired the largest revenue share in the hydraulic cylinders market in 2020. The market is developing due to the rising demand for agricultural, construction, and mining equipment in this region. Agriculture and construction sectors in the region are growing in response to rising food demand from the region’s growing population and increasing industrialization in emerging countries. In APAC, hydraulic cylinders are mostly sold in Japan and Australia. Major car manufacturers and suppliers in Japan are facing growing labor costs and longer lead times as a result of manual operations. Companies are implementing automated and semi-automated material management systems to tackle these issues. Minerals are plentiful in Australia, and their extraction is boosting the demand for mining equipment that comes equipped with hydraulic cylinders.
KBV Cardinal Matrix – Hydraulic Cylinder Market Competition Analysis
Source: KBV Research
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Caterpillar, Inc. is the major forerunner in the Hydraulic Cylinder Market. Companies such as Parker Hannifin Corporation, SMC Corporation, Enerpac Tool Group Corp. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wipro Limited, Caterpillar, Inc., Parker Hannifin Corporation, Standex International Corporation, Kawasaki Heavy Industries, Ltd., SMC Corporation, KYB Corporation, Enerpac Tool Group Corp., Ligon Industries, LLC, and HYDAC International GmbH.
Strategies deployed in Hydraulic Cylinder Market
Jun-2021: SMC unveiled the MGPK Series, an updated Compact Guide Cylinder product line. The series is developed to be dense and features a 28% deduction in volume and a 41% decrease in weight as compared to previous models.
Apr-2021: Enerpac launched the next generation of the popular RC-Series hydraulic cylinders. The RC-Trio bearing system improves endurance as well as a hybrid spring-return system for quick withdrawal with better productivity.
Feb-2021: Enerpac expanded its geographical footprint by establishing a new office in Kraków, Poland. This new office expansion would work as an enterprise commercial hub for all its firm in Eastern and Central Europe.
Sep-2019: Wipro Infrastructure Engineering signed a Memorandum of Understanding with Defence PSU BEML, the biggest Defence, Mining & Construction and Rail Coach manufacturer. Through this MoU, the entities would work in 3D Printing, Hydraulic System Engineering, Industrial Automation, Artificial Intelligence, and Aerospace.
Nov-2018: Enerpac introduced the RLT-Series range of low-height telescopic hydraulic cylinders. The RLT range offers lengthy cylinder strokes that are restricted are often found during tool fastening and machinery positioning to provide the secure path of lifting massive loads.
Mar-2018: Parker Hannifin Corporation expanded its enhanced version of single-acting telescopic hydraulic cylinders for the dump truck industries. The improved SAT cylinder would emphasize an increase of 25 percent in operating pressure to 2,500 psi for enhanced performance and strength as well as to reduce prolonged price and increase productivity.
Nov-2017: Enerpac introduced a new CULP-Series, Ultra-Flat hydraulic cylinder series. The series is developed for industries where massive lifting forces are required in restricted spaces. Additionally, CULP-Series begins with an ability of 10 to 50 tons whereas CUSP-Series can lift up to 10 to 1000 tons.
Feb-2017: Parker Hannifin took over Helac Corporation, a Machine industry company. This partnership aimed to enhance Parker’s situation is crucial growth markets and expand the reach of Helac products within Parker’s sales channels globally.
Jan-2017: Hydradyne completed the acquisition of Hydraulic House, Custom Hydraulic Hoses, and Cylinder Repair. Through this partnership, Hydraulic House would provide repair and service of various company’s hydraulic equipment with Parker hydraulic parts and a complete range of Parker fluid connector products.
Scope of the Study
Market Segments covered in the Report:
By Function
• Double-acting
• Single-acting
By Specification
• Welded
• Tie Rod
• Telescopic
• Mill Type
By Bore Size
• 50–150 MM
• <50 MM
• >150 MM
By Application
• Mobile
• Industrial
By Industry
• Construction
• Aerospace
• Material Handling
• Mining
• Agriculture
• Automotive
• Marine
• Oil & Gas
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Wipro Limited
• Caterpillar, Inc.
• Parker Hannifin Corporation
• Standex International Corporation
• Kawasaki Heavy Industries, Ltd.
• SMC Corporation
• KYB Corporation
• Enerpac Tool Group Corp.
• Ligon Industries, LLC
• HYDAC International GmbH
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06273354/?utm_source=GNW
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Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/identity-governance-administration
“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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