Digitalization in valve operations reveals new opportunities for users/operators to minimize downtime and enhance productivity. As a result, there is a growing need for smart valve components among end users to monitor valve operation and manage valve assets. Digital valve controllers and intelligent electric actuators by valve automation suppliers are the two go-to technologies in the market, enabling condition monitoring and predictive maintenance of both isolation and control valves. Other smart devices enabling digitization of pressure relief valve and steam trap operations include wireless non-intrusive acoustic transmitters, lift/position monitors, and differential pressure flow transmitters.
"The ongoing pandemic and increasing emphasis on digitalization have made many end users aware of the cost benefits of condition monitoring and predictive analysis to avoid downtime and minimize human intervention on the process. The increased focus on leveraging pervasive communications networks, cloud storage, and computing capability to enable asset management initiatives drives smart valve actuator‘s demand among end users seeking higher productivity and efficiency," according to Sandeep Mukunda, Market Analyst and key author of ARC's Digital Valve Key Components Market Research Report.
Digital Valve Key Components Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Advances in Data Science, Artificial Intelligence, and Computing Power Batteries to Power Wireless Devices
- Energy Saving Measures
- Increasing Acceptance of Outsourcing Maintenance Increasing Adoption of Wireless Positioners Increasing Demand for More In-depth Information Increasing Electrification of Control Valves Increasing Focus on Safety Lifecycle
- Increasing Regulatory Pressure Integrated Connected Valves
- Technological Advancements in Communication Protocols
About the Digital Valve Key Components Research
The Digital Valve Key Components report is an emerging market analysis which explores current and future market performance and related technology and business trends. The report includes a comprehensive list of suppliers active in the market along with a select number of supplier profiles. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes five-year market forecasts segmented by World Region, Industry, and Component.
This new research is available as a Concise Market Analysis Report (PDF) which provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues.
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