TMCnet News
European Intelligent Pumps and Controllers Market Forecast to 2024 with Case Studies from Emotron, Xylem & ArmstrongDUBLIN, Dec. 17, 2018 /PRNewswire/ -- The "European Intelligent Pumps and Controllers MarketDriving Smart Revolution, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering. This study dives into the benefits of Industrial Internet of Things (IIoT) technology incorporated into pumps. Intelligent pumps started off with integrating Variable Frequency Drives (VFDs) and controllers to pumps in order to conserve energy, monitor the performance, control the speed, and measure a few parameters by adding sensors to the equipment. However, its capability is quite limited. With increased customer demand to include advanced capabilities that could translate normal data into more meaningful action, intelligent pumps are in the process of evolving into smart pumps. With IIoT, advanced features as such predictive maintenance, remote monitoring, digital twin technology, artificial intelligence and Virtual Reality (VR)/Augmented Reality (AR) end users will be able to greatly benefit in the next decade. The impact of smart pumps in end-user industries such water and wastewater, Oil and Gas (O&G), chemicals, pharmaceuticals, building services, and food and beverage have been discussed. Perspectives from major participants have also been included in this study. End-user companies do not want to purchase new equipment; instead they work towards maintaining their existing assets. They aim at improving the reliability of the existing infrastructure. Now-a-days, consumers are more conscious about OPEX savings and so there is an increased demand for higher efficiency, process optimisation, energy conservation, higher output, and reduced downtime. As mentioned earlier, for a plant operator to improve the profitability, it is important to reduce the fixed cost as much as possible. By maintaining existing equipment in its proper condition and by utilising the assets to their maximum potential, it is possible to improve the productivity and energy efficiency. Energy consumption attributes to a major proportion of fixed cost and reducing it can lead to abundant savings for plant operators. It is important for pump manufacturers to follow an innovative and unique approach to this challenge. Data obtained from sensors installed on the pumps, during several operating conditions are stored in cloud-based systems and will help the operator in learning the pumps functionality, by observing the trend. From the in-depth knowledge gained, the operating conditions can be tweaked to improve the efficiency of the pumps. With connected plants, supply chains that are located in various regions can be linked together on a common platform through protocol interoperability. This improves transparency and visibility within an organisation, making it easy for a manager to plan efficiently. With connected plants , remote operations are also possible with AR/VR and digital twin technologies, reducing the need for plant operators and experts to travel to hazardous and remote locations. By analysing the stored information over a period of time, the operator can also predict potential issues and suggest predictive maintenance to plant operators that will reduce unplanned downtime when the equipment is performing crucial operations. Software applications are built for the purpose of analysis and according to the authors research, more mergers and acquisitions resulting in collaborative operations between pump manufacturers with the IT sector are expected during the forecast period. Key Topics Covered: 1. Executive Summary
2. Market Overview
3. Drivers and Restraints-Total Intelligent Pumps and Controllers Market
4. Case Studies
5. Industrial Internet of Things (IIoT) in the Pumps Market
6. Forecasts and Trends-Total Intelligent Pumps and Controllers Market
7. Protocols and Standardisation
8. Regional Innovation Index
9. Market Share and Competitive Analysis-Total Intelligent Pumps and Controllers Market
10. Growth Opportunities and Companies to Action
11. The Last Word
12. Appendix
For more information about this report visit https://www.researchandmarkets.com/research/plctb8/european?w=5 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Laura Wood, Senior Manager View original content:http://www.prnewswire.com/news-releases/european-intelligent-pumps-and-controllers-market-forecast-to-2024-with-case-studies-from-emotron-xylem--armstrong-300767298.html SOURCE Research and Markets |