According to ARC's new control valve market research, the pandemic has heightened the awareness of the need for, and willingness to invest in, Industrial Internet of Things (IIoT) solutions that allow workers to perform their jobs and collaborate remotely. Although many manufacturing companies were already looking into adopting Industrial IoT solutions, the COVID-19 pandemic pushed many companies who remained “on the fence” to begin actively implementing these solutions. Manufacturers are coming to the realization that secure data storage platforms that enable remote connectivity and enterprise-wide data access are becoming fundamental to optimizing manufacturing operations. As more manufacturing companies invest in these new data storage platforms and connected valves, many of them are also taking a closer look at control valve remote monitoring services offered by many of the major international control valve suppliers.
"End users don’t need more raw data, they need actionable information that allows them to keep operations up and running. End users don’t need another alert that a control valve is operating out of spec, they need to know what they need to do and when they need to do it, to prevent unplanned downtime due to a critical valve failure. Recognizing this, many international valve suppliers have developed remote monitoring services that help remove the burden of valve maintenance from the end users enabling them to focus on their core competencies. ARC anticipates growing adoption of service models such as “Expertise-as-a- Service” (EaaS) in which remote valve monitoring and diagnostics services are bundled to provide options for end users lacking in-house valve experts," according to David Clayton, Senior Research Analyst and key author of ARC's Control Valves Market Research Report.
Control Valves Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Batteries to Power Wireless Devices COVID-19
- Energy Saving Measures
- Increasing Acceptance of Outsourcing Maintenance
- Increasing Adoption of Wireless Positioners
- Increasing Competition from Low-cost Competitors
- Increasing Electrification of Control Valves
- Increasing Focus on Safety Lifecycle
- Increasing Regulatory Pressure
- Integrated Connected Valves
- Technological Advancements in Communication Protocols
Leading Suppliers to the Control Valves Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Emerson Automation Solutions, Flowserve, Nihon Koso, SAMSON.
About the Control Valves Research
The Control Valves report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. 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 competitive analysis, plus five-year market forecasts and up to 1 year of historical analysis segmented by World Region, Industry, Sales Channel, Customer Type, Component, Revenue Category, Project Type, Actuators by Type, Positioners by Type, and Positioners by Communication Protocol.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:
- Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports. Available with up to 1 years of historical analysis.
- Concise Market Analysis Report (PDF): Provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.