Dublin, May 31, 2019 (GLOBE NEWSWIRE) -- The "IoT in Pumps - 2018 End-user Feedback on IoT Implementation and Challenges" report has been added to ResearchAndMarkets.com's offering.

Pumps industry currently worth $38 billion has the potential to unlock new revenue streams and growth opportunities by integrating IIoT technologies such as intelligent sensors, cloud computing, big data and analytics, cognitive intelligence and industrial mobility.

Pumps being the top 5 assets with respect to operational and maintenance challenges faced by end-users, smart and intelligent pumps are likely to gain wider traction and serves as a viable proposition for end-users who are aggressively working towards diminishing their operational costs. In the present context with pressing need to cut down operational expenditure (OPEX), end-users are willing to explore pump solutions that assist in monitoring its health condition, ease maintenance, prevent unexpected failure and asset downtime and in total minimize operational and maintenance costs.

The onset of the Industrial Internet of Things (IIoT) is transforming the entire manufacturing ecosystem by redefining the production process, supply chain and end-product delivered to the customers. The turbulent business environment with existence of uncertain economic conditions, shift in customer preferences towards custom-made products, fluctuating cost of raw materials and commodities and rise in competition with growing number of niche and specialized manufacturers. Optimization of asset and resource utilization, enhancing production efficiency and in total reducing operational expenditure being the main objective of the end-user, there is keen interest to assess and implement IIoT based technologies in the existing manufacturing processes.

In this study we provide in-depth analysis of end-user perspective on the application of IIoT in pumps that includes both centrifugal and positive displacement pumps that are used for critical, non-critical and utility operations. We assess, evaluate and gauge end-user requirements, challenges and future investment plan with respect to plant operations. This research study involved interactions with plant managers, engineers, executives and management board working in process and hybrid industries such as oil and gas - upstream, midstream and downstream, chemical processing, power generation, water and wastewater, metals and mining and food and beverage to name a few.

The key questions this study will help to address include:

Key Issues Addressed

Key Topics Covered:

1. Executive Summary

2. Research Scope and Methodology

3. State of the Industry

4. End-user Survey Results

5. Customer Insights - Selected Quotes from End Users

6. Growth Opportunities and Companies to Action

7. Strategic Conclusions

8. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/37aixi

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. 

CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Pumps, Internet of Things and M2M