Intelligent Pump Industry is Driven by Growth in Iiot & Economic Benefits of Intelligent Systems The global intelligent pump market was valued a...

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Intelligent Pump Industry is Driven by Growth in Iiot & Economic Benefits of Intelligent Systems The global intelligent pump market was valued at USD 573.2 Million in 2015, and is expected to grow at a CAGR of 7.5% from 2016 to 2021. Strict energy-efficiency standards in developed nation, growth in Industrial Internet of Things (IIoT) and economic benefits of intelligent systems, focus on smart water & wastewater systems, increasing power generation capacities across the globe, and significant investments in non-oil & gas sectors in the Middle East and North Africa (MENA) are the major factors driving the intelligent pump market.  The Asia-Pacific market is projected to grow at the highest CAGR from 2016 to 2021. The region is the largest market for the construction sector. The growth of the manufacturing sector, especially in Southeast Asian countries, coupled with an increase in power generation capacity and development of smart cities in India, is expected to drive the intelligent pump market in the region.  Download Informative PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=231268027  ; The research study of Intelligent Pump further segmented into pump type, component type and end-user Pump type is classified into positive displacement and centrifugal. The centrifugal segment is projected to dominate the intelligent pump market. This is because centrifugal pumps require much use of control systems in high-viscosity and variable pressure conditions.Component  type is classified into pumps, variable drives, and control systems. The control systems segment accounted for the largest market share in 2015. These intelligent pumps are being increasingly adopted due to their energy-efficient application in various industries. End-user is classified into building automation, water & wastewater, oil & gas, chemicals, power generation, and others. The water & wastewater segment is expected to grow at the fastest rate during the forecast period. Development of smart cities and strict energy-efficiency standards will likely to drive the overall water & wastewater segment, which is expected to create new revenue pockets for the intelligent pump market during the forecast period.Intelligent pumps offer better pumping solution for the mining industry as it is more efficient and requires less human intervention; its slowdown has hindered the growth of the intelligent pump market.Key players:Xylem, Inc. (U.S.), ITT Corporation (U.S.), Grundfos Holding A/S (Denmark), Sulzer Ltd. (Switzerland), and Flowserve Corporation (U.S.).

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