New ARC Advisory Group research on the on-off valves market reveals that although many manufacturing companies were already considering adopting Industrial IoT solutions, the pandemic pushed many companies that were "on the fence" to begin actively implementing these solutions. Manufacturers are realizing 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 valve remote monitoring services offered by many of the leading valve and actuator suppliers.
"Recent advances in data science, artificial intelligence, and computing power have converged in a ‘perfect storm’ to enable commercialization of algorithms to provide human-like analysis of large data sets at machine speeds. These advances are allowing valve and actuator suppliers to apply artificial intelligence to valve health monitoring solutions to provide more advanced warning and richer analysis of impending valve failures," according to Sandeep Mukunda, Market Analyst and key author of ARC's On-Off Valves, Actuators, and Switchboxes Market Research Report.
On-Off Valves 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 Focus on Safety Lifecycle
- Increasing Regulatory Pressure
- Integrated Connected Valves
- Technological Advancements in Communication Protocols
Leading Suppliers to the On-Off Valves, Actuators, and Switchboxes 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: Crane Company, Emerson Automation Solutions, Flowserve, Rotork, Schlumberger.
About the On-Off Valves, Actuators, and Switchboxes Research
The On-Off Valves, Actuators, and Switchboxes report explores the current and future market performance and related technology and business trends. 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 segmented by World Region, Industry, Sales Channel, Customer Type, Component, Actuator Type, Valve Type, and Switchbox Type.
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.
Concise Market Analysis Report (PDF): This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
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