Artificial Intelligence
Actuators Market to Hit USD 98.92 Billion by 2029 | Rising Industrial Automation to Augment Demand for Actuators
Pune, India, May 17, 2022 (GLOBE NEWSWIRE) — The global actuators market size was USD 41.62 billion in 2021. The market is projected to grow from USD 44.60 billion in 2022 to USD 98.92 billion in 2029 at a CAGR of 12.05% in the 2022-2029 period.
This information is provided by Fortune Business Insights™, in its report, titled, “Actuators Market, 2022-2029.”
According to our analysts, with the augmented demand for automation and amplified efficiency and output of numerous industrial procedures, there has also been a surge in demand for actuators. The growth of this market is accredited to the rising demand for actuators by global oil & gas, commercial, and transportation industries.
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List of Key Players Covered in the Report
- ABB (Zurich, Switzerland)
- MISUMI (Tokyo, Japan)
- TAMAGAWA SEIKI Co. Ltd. (Nagano, Japan)
- Moog Inc. (New York, U.S.)
- Eaton Corporation Inc. (Ohio, U.S.)
- Rockwell Automation, Inc. (Wisconsin, U.S.)
- SMC Corporation (Tokyo, Japan)
- Emerson Electric Co. (Missouri, U.S.)
- Parker Hannifin Corporation (Ohio, U.S.)
- Curtiss-Wright Corporation (North Carolina, U.S.)
- Rotork PLC (Bath, U.K.)
- Venture MFG Co. (Ohio, U.S.)
Report Scope & Segmentation
Attribute | Details |
Forecast Period | 2022 to 2029 |
Forecast Period 2022 to 2029 CAGR | 12.05% |
2029 Value Projection | USD 98.92 Billion |
Base Year | 2021 |
Market Size in 2022 | USD 44.60 Billion |
Historical Data for | 2018-2020 |
No. of Pages | 221 |
Segments covered | By Motion, By Type, By End-Use Industry |
Growth Drivers | Growing Industrial Automation Expected to Increase the Demand for Actuators |
Increasing Commercial Aircraft Deliveries to Fuel Market Growth | |
Pitfalls & Challenges | High Installation & Maintenance Costs of Hydraulic and Pneumatic Actuators to Hamper Growth |
Market Segments:
Electric Segment to Grow at Higher CAGR during Forecast Period
By motion, the market is segmented into linear and rotary.
On the basis of type, the market is categorized into hydraulic, pneumatic, electric, and others. The pneumatic is anticipated to be the largest segment in 2021. The growth is attributed to the surge in demand for pneumatic actuators in oil & gas industries.
Based on end-use industry, the market is segregated into aerospace & defense, automotive, construction, chemicals, food & beverages, healthcare & pharmaceuticals, marine, mining, oil & gas, power generation, and others.
The market has been branched based on regions such as North America, Europe, Asia Pacific, and Rest of the World.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/actuators-market-103531
Report Coverage
The report offers an expanded review of prime players and their insightful tactics to bolster market growth for economic profits. It further mentions concrete insights which guide entrepreneurs with their investment plans. The regional aspects and their crucial role in leading the market in a mounting curve are discussed in the following report. Furthermore, COVID-19 influences have been added for additional information and how it is estimated to impact the demand for actuators in the upcoming future.
Driving Factors
Rising Industrial Automation to Augment Demand for Actuators
With progressions in robotics, Artificial Intelligence (AI), and Machine Learning (ML), the trend of automation has surged. An actuator is a crucial component utilized in all actuation systems, and it aids to automate various systems and processes in the automotive, food, transportation, manufacturing, agriculture, and medical industries. A surge in industrial automation is expected to fuel the actuators market growth through the predicted period.
Regional Insights
North America to Lead Backed by Presence of Prime Players in this Region
North America held the largest actuators market share in 2021 with a size of USD 12.87 billion. The growth is accredited to the existence of a well-settled and rising automotive industry and aircraft manufacturing units in the region.
The market in Asia Pacific is predicted to grow at the highest growth rate during the forecast period owing to the speedy industrialization and urbanization in the region.
The market for automotive actuators in Europe is also estimated to observe substantial growth as this region is the core of prime automobile producers such as BMW and Audi among others.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
-
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Actuators Market
- Impact of the COVID-19 pandemic on the Global Actuators Market
- Steps taken by Industry/ Companies/ Governments to overcome the impact
- Potential opportunities due to COVID-19 Outbreak
- Global Actuators Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast – By Motion
- Linear
- Rotary
- Market Size Estimates and Forecast – By Type
- Hydraulic
- Pneumatic
- Electric
- Others
- Market Size Estimates and Forecast – By End-Use Industry
- Aerospace & Defense
- Automotive
- Construction
- Chemicals
- Food & Beverages
- Healthcare & Pharmaceuticals
- Marine
- Mining
- Oil & Gas
- Power Generation
- Others
- Market Size Estimates and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…!
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Competitive Landscape
Crucial Players Sign Notable Contracts to Make Prominent Alterations in Market
The players functioning in the market often deploy various tactics that will assist the market growth and product demand. Among the abundantly available strategies, one such remarkable strategy to safeguard the business prospect is engaging in multimillion deals with government organizations and other players and thereby securing a profitable revenue for their own company.
Key Industry Development
December 2021: Rotork PLC engaged in a deal with Milano San Rocco Wastewater Treatment Plant (WWTP) to produce and supply Rotork IQ electric modulating actuators.
Read Related Insights:
Aircraft Actuator Market Size, Share and Industry Analysis, By Motion (Linear, Rotary), By Actuator Type (Hydraulic, Pneumatic, Electric, Electromechanical, Electrohydrostatic), By Platform (Fixed-Wing, Rotary-Wing), By Installation (Power Generation & Distribution System, Flight Control System, Fuel Management System, Landing Gear & Braking System, Passenger Comfort, and others), and Geography Forecast till 2026
Industrial Automation Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software), By Industry (Discrete Automation, Process Automation), and Regional Forecast, 2022-2029
Connected Aircraft Market Size, Share & COVID-19 Impact Analysis, By Type (System and Solutions), By Connectivity (In-Flight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity), By Application (Commercial and Military), By Frequency (Ka-Band, Ku-Band, L-Band), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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Artificial Intelligence
Saviynt Appoints James Ross as RVP-ANZ to Strategically Accelerate Growth in the Australia and New Zealand Region
LOS ANGELES, May 22, 2024 /PRNewswire/ — Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced the appointment of James Ross as RVP-ANZ as the company has seen rapid growth in the Australia and New Zealand (ANZ) region, with double digit growth year over year.
Saviynt has solidified its position as a key player in the cloud identity security landscape with its Identity Cloud. The company’s continued focus on innovation and client satisfaction has contributed significantly to building a safer Australia with prominent customers across the energy and utilities, finance, retail, energy, and transport and logistics sectors.
“James’ appointment as the Regional Vice President (RVP) for ANZ marks a strategic move to accelerate growth and solidify market presence in the region,” said Dan Mountstephen, SVP APAC at Saviynt. “With a proven track record of dynamic leadership at Collibra, ForgeRock, and CA Technologies, James brings a wealth of experience and expertise to the role. His visionary approach and collaborative spirit are poised to inspire and mobilize teams toward ambitious targets.”
Saviynt has consistently expanded its client base and deepened its relationships with existing customers through customized solutions and unparalleled support, cementing its reputation as a trusted partner in the region’s cybersecurity ecosystem. As RVP ANZ, Ross is set to foster key partnerships and implement agile strategies to propel the company towards new heights of success in the dynamic ANZ market.
“Joining Saviynt excites me because it’s an opportunity to help more organizations simplify their identity ecosystem in order to drive efficiencies and improved security posture. I am committed to leveraging Saviynt’s cutting-edge solutions to continue to broaden our partnerships in the region to improve our accessibility for customers, strengthen our regional delivery, whilst continuing to provide a great customer experience,” said Ross.
To learn more about Saviynt, please visit our website.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt’s cutting-edge solutions have been recognized as industry leaders. For more information, please visit www.saviynt.com.
Press Contact
Jacklyn [email protected]
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Artificial Intelligence
Appdome Sweeps Cybersecurity Excellence Awards
Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.
“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense: The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance: Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met. Mobile Application Security: With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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Artificial Intelligence
Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation
Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation 32% of professionals in finance have seen whistleblowers victimized behind their back or to their faceJACKSONVILLE, Fla., May 21, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.
Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “‘might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:
59% have seen whistleblowers subsequently left out of important decisions 33% have seen whistleblowers moved to a different team 32% have heard whistleblowers called derogatory names behind their backs or directly to their faceWhen asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch”, said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”
Jennifer Griffith, whistleblower who was called a “traitor”, said: “Choosing to blow the whistle involves more than just the desire to right a wrong. It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it. It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat”, said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
Georgina Hallford-Hall, CEO of Whistleblowers UK, said: “Too many organisations talk the talk but fail to engage with whistleblowers often at great cost to both. Technology used properly can remove the fear that both organisations and whistleblowers have about dealing with whistleblowing because it removes the person and focuses on the concerns or malfeasance. WhistleblowersUK are calling on the UK government to introduce an Independent Office of the Whistleblower to protect everyone from discrimination setting standards that end stigmatisation and discrimination making it safe to speak up.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
Notes to Editor
Methodology
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 – 05/07/24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
For more information, please contact:
Fight or Flight for [email protected] / +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
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