The intelligent pump market has been estimated to grow with the rising requirement for proper monitoring along with control of the pumps across numerous end-use industries. In addition to this, these pumps enable energy management, remote condition monitoring, and remote systems control. So, these factors are likely to contribute to revenue generation opportunities in the intelligent pump market in the coming years.
Positive displacement and centrifugal are the two types of pumps that are available in the intelligent pump market. Between these two, the centrifugal pumps are likely to hold a noticeable share in the market owing to the fact that these are very efficient and can control conditions of high viscosity and variable pressure conditions. Further, the control systems serve are vital components in the intelligent pump due to their ability to enable energy efficiency across numerous applications.
The water and wastewater industry has been the prominent user of the solutions from the intelligent pump market. The development of smart cities is likely to increase the application of market solutions. Further, strict regulatory norms related to energy efficiency are also estimated to contribute to the expansion opportunities in the intelligent pump market.
Regional Analysis of Intelligent Pump Market
The intelligent pump market has been classified into Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa on the basis of geographical area. Among these Europe has been predicted to hold a noticeable share in the market owing to the increasing number of manufacturing and development activities across flourishing nations, for instance, Italy, Germany, and France. In addition to this, the growing demand for building automation and smart water systems has also been projected to serve as revenue generators in the intelligent pump market in the forthcoming years.
The Asia Pacific is also expected to grow at a noteworthy speed with the rapid growth of the construction industry and the development of smart cities in the region.