New research points to the increasing digitization and Internet of Things (IoT) technologies in hydraulic devices, including hydraulic equipment.
Technavio suggest that while IoT applications usually hover around electric system, it is also being used in fluid power systems as well. Even more, hydraulic systems are increasingly adopting electronics for intelligent motion and sensors for collecting data.
In particular, manufacturers are also pushing toward greater digitization of hydraulic products, offering more components and modules with digital interfaces and sensor intelligence.
For construction companies, this will help monitor, configure, and maintain and entire machine, from a single display interface. For instance, IoT technology can be used for predicting hydraulic hose failure or connector leakage, which is one of the major issues with hydraulic systems.
The research firm predicts that the global hydraulic equipment market will grow three percent between 2018 and 2022. The mobile segment held the largest market share in 2018, accounting for almost 65 percent of the market and is expected to post steady growth.
The Americas were the highest share of hydraulic equipment in 2017, and is anticipated to dominate the global market going forward.
For those construction companies leveraging new hydraulic equipment, the use of technologies such as IoT can help monitor and maintain the machine.
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