The Global Market for Big Data Technologies and Services is Projected to Reach $60 Billion by 2022

The global market for Hydraulic Components is forecast to reach US$85.5 billion by 2025, driven by the ubiquitous use of fluid power in modern engineering and continuous developments in the science of hydraulics which help the technology replace mechanical and electrical drive systems. Especially poised to benefit future growth in the market is the expanding scope, utilization and application scenarios emerging as a result of technology innovations that make fluid power solutions ready for the era of industry 4.0. Smart hydraulics, in this regard, defined as a combination of brawny traditional hydraulics and intelligent electronics will emerge as the key revenue spinner in the market. Benefits of smart hydraulics include cost effectiveness when compared to pure electric systems; compact footprint; versatility, superior control benefits offered by electric servo technology; scalable, modular assembly; smart-leak detection capabilities for greater safety, intelligent tools for condition monitoring and integration with smart factory concepts; open-source connectivity protocols that pave for the way for the development of connected hydraulics; smartphone connectivity for easy transfer and processing of data in real-time and for optimizing hydraulic functions; and graphical programming interface for easy reconfiguration. In light of the aforementioned benefits, smart hydraulics is the middle ground for the manufacturing industry as it moves up the trajectory towards industry 4.0. Smart hydraulics enables hydraulics to be seamlessly embedded into connected environments and into different automation topologies via open standards such as multiple Ethernet interfaces. Smart hydraulics, in other words, is optimally poised to leverage the opportunities offered as the industry migrates from analogous hydraulics to connectable digital fluid technology. Read More…