Published on : Dec 05, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Digital Smart Valve Positioners Market Insights, Forecast to 2025”. The report on the global digital smart valve positioners market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application.
The global digital smart valve positioners market will see a steady growth over the forecast period – 2019 to 2025. The CAGR (Compound Annual Growth Rate) that the market is set to chart will generate untapped opportunities for players, adding to market worth considerably.
Factors driving the market ahead include need for more security in critical operations such as oil and gas extraction where the need to plan, schedule, execute, and monitor several simultaneous operations is paramount. Thus, it doesn’t come as a surprise that players are always trying to meet rising demand and cut down operational costs. The digital valves fulfill the goals, leading to rise in demand for digital valve positioners. Not to mention, as growth happens across the oil and gas sector due to rise in population and thus rise in demand, popularity of digital smart valves positioners will increase.
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Another factor contributing to growing demand of these digital smart valve positioners is rising trend of automation. More and more businesses are moving towards smart solutions in plant operations. It is mainly to ensure seamlessness in processes, precision and advanced diagnostics. The way these positioners work includes using a micro-processor for placing the actuator. It also keeps track of data and possess internal logic based on this data. They can convert electric signals to pressure signals. Besides, knowing what’s happening and what’s going to happen in advance (predictive diagnostics), helps save businesses both time and money.
Moreover, governments on a global level are opting for smart transference and clever grids. There is also a call for smart cities to promote connected living and green, sustainable lifestyles. This will boost growth in the digital smart valves positions market in a major way too.
What can really be a constraint in terms of market aiming to reach its full potential is dearth of skilled laborers and few technological limitations. But these would be compensated for by increase in demand from multiple industry verticals.
The market is fairly consolidated and prominent players in the global digital smart valve positioners market landscape include the following.
In order to stay ahead of competitors, market players resort to a number of strategies. Prominent among them are mergers and acquisitions, strategic partnerships and collaboration and product development through innovation.
Breaking down region-wise growth includes a mention of the Asia Pacific (APAC) region as it over the forecast period, the region is set to accelerate growth for multiple market domains, including global digital smart valve positioners. It will create lucrative opportunities, ready to be tapped by players who are looking towards increasing their grasp on the market. It also owes to rapid urbanization and thus need for water and need for wastewater treatment in the region that thus increases. Besides, as economies in the region do well and water gets scarcer than ever, need for digital safety valves positioners increases, fueling the market forward. It comes as no surprise then that the region will account for the largest share between 2019 and 2025.