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The IoT valve market size is expected to reach US$ 2.85 billion by 2031 from US$ 1.29 billion in 2023. The market is estimated to record a CAGR of 10.4% from 2023 to 2031. The increasing integration of IoT with Blockchain is likely to be a key market trend in the coming years.
IoT Valve Market Analysis
IoT valves have various applications. They can manage the distribution of water within a home or building, allowing for automated control of water usage in kitchens, bathrooms, and irrigation systems. Also, in manufacturing plants, these valves control the flow of liquids and gases. In utilities and infrastructure, these IoT valves are used in water distribution, wastewater treatment, and gas supply networks.
The demand for industrial valves across sectors such as pharmaceuticals, oil & gas, and chemicals and the rapid evolution of IoT technology fuel the global IoT valve market growth. By incorporating IoT capabilities, valves can be remotely controlled, monitored, and automated, reducing maintenance expenses and enhancing efficiency. For instance, with the integration of IoT technology in HVAC systems, intelligent HVAC systems are increasingly used and can be managed and monitored remotely. The rising adoption of IoT in diverse industries, including aerospace, elevators, and process automation, has increased the demand for IoT valves.
IoT Valve Market Overview
Advancements in IoT technology have transformed numerous industries, and one of the most innovative areas is the advancement of smart valves. Smart valves use IoT technology and present an exceptional breakthrough in the process valves industry, enabling the management of various processes and online monitoring control. These allow immediate response for machine learning, optimization, and safety events, along with equipment and machinery protection, device tracking, and additional customer-tailored benefits. Smart valves possess smart metering control systems, enabling accurate distribution and measurement of resources such as water and gas. Smart metering control reduces waste, optimizes resource usage, and improves performance by precisely controlling and monitoring flow rates. Smart valves provide affordable solutions by effectively utilizing resources. They provide accurate gas and water control and distribution, eliminating waste and reducing expenses. Smart valves help organizations reduce utility costs and maintenance costs by minimizing leaks and providing effective automation.
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IoT Valve Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
IoT Valve Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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IoT Valve Market Drivers and Opportunities
Rising Energy and Water Conservation Efforts
The rise in energy and water conservation efforts is a significant driver for the IoT valves market. As the global focus intensifies on sustainable practices, governments, industries, and consumers are seeking solutions that optimize resource usage. IoT valves provide precise control, monitoring, and automation in these conservation efforts. In manufacturing plants, IoT valves can regulate the flow of steam, gases, and liquids used in various processes. Using sensors and data analytics, these valves can adjust the flow based on real-time requirements, reducing energy waste. For instance, Bosch is developing smart factories utilizing IoT in manufacturing. Sensors in these facilities collect data on all parts of the manufacturing procedure, which includes everything from the chain of distribution to the assembly line. Municipal water supply systems can leverage IoT valves to monitor and control water distribution networks. In a smart city project, IoT valves can detect leaks in the water supply system and shut off the affected section to prevent water loss. They can also optimize water pressure in different areas based on usage patterns, ensuring efficient water distribution. Governments are implementing stricter regulations on energy and water usage, incentivizing industries to adopt smart technologies. For instance, according to the report of Indian Infrastructure, as of April 5, 2024, 645 smart energy projects worth US$ 1,675.0 million have been completed, and 38 projects worth US$ 85.3 million are in progress in India. These projects have several components to ensure efficient energy utilization, such as smart lighting, buildings, metering, waste management, and mobility. Additionally, consumers are becoming more environmentally conscious, seeking products and solutions that contribute to sustainability.
Growth of Industry 4.0
Various countries are widely recognized as pioneers in the implementation of Industry 4.0, or the Fourth Industrial Revolution. The German government has recognized the need for a strategic development of Industry 4.0, providing significant funding for research and development and establishing partnerships between industry and academia. Under its Industrial Strategy 2030, the government set a goal of raising the share of German industries in gross value added in the Germany economy to 25% by 2030.
There is a rise in the incorporation of Industry 4.0 industries as various countries have a strong manufacturing base, which includes well-established companies such as Bosch, Siemens, and Volkswagen. These companies have been early adopters of new technologies and have invested heavily in research and development to create innovative solutions for the challenges of Industry 4.0, such as interoperability. The implementation of Industry 4.0 has had a significant effect on the manufacturing sector. For example, the use of data analytics and predictive maintenance has enabled companies to reduce downtime and improve the efficiency of their operations. The adoption of Industry 4.0 leads to the integration of AI, IoT, and sensors in components such as valves. Also, IoT valves are compatible with Industry 4.0 technologies; for example, the IoTH-800 Series, offered by Ultra Clean technology, is compatible with Industry 4.0. Thus, the growth of Industry 4.0 is likely to create opportunities for the proliferation of the global IoT valve market during the forecast period.
IoT Valve Market Report Segmentation Analysis
Key segments that contributed to the derivation of the IoT valve market analysis are connectivity, type, and end user.
- Based on connectivity, the market is segmented into wired and wireless. The wired segment held a larger IoT valves market share in 2023.
- Based on type, the market is segmented into energy valve, pressure-independent control valve (PICV), and regular valves. The pressure independent control valve (PICV) segment held the largest IoT valves market share in 2023.
- Based on end user, the market is divided into industrial, residential, and commercial. The industrial segment held the largest market share in 2023.
IoT Valve Market Share Analysis by Geography
The IoT valve market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2023, followed by North America and Europe.
The high penetration of the Internet across North America, coupled with initiatives by key market players to promote the use of digital technologies for seamless and smooth business operations and human error reduction, catalyzes the adoption of IoT valves across North America. In November 2021, Rusco, a US-based manufacturer of water sediment filtration products, announced the launch of "Smart Ball Valve." These valves can be operated using apps on Android and Apple devices and can be accessed on Zigbee and Wi-Fi models. They are made for commercial, municipal, and residential water filtration systems. This smart valve automates two basic functions—flow shut off and sediment flushing. The apps are alerted if something interrupts normal operations and provide a safe shut-off during power cuts, which improves the overall performance of a water filter system. Thus, the IoT valve market in North America is dominated by automation and the development of smart solutions in water filtration systems.
IoT Valve Market Report Scope
IoT Valves Market News and Recent Developments
The IoT valve market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
- IMI plc acquired Heatmiser UK Ltd. for an enterprise value of US$ 119.5 million, with up to a further US$ 8.6 million based on Heatmiser's future financial performance. Heatmiser became part of IMI Hydronic Engineering ("IMI Hydronic"). (Source: IMI plc, Press Release, November 2022)
- Ultra Clean Holdings, Inc. acquired HIS Innovations Group, a privately held company based in Hillsboro, Oregon. HIS is a leading supplier to the semiconductor sub-fab segment, including the design, manufacturing, and integration of components, process solutions, and fully integrated subsystems. This acquisition aligns with UCT's long-term strategy to pursue sustained and profitable growth by offering a more diversified portfolio of high-quality, high-value solutions to its customers. (Source: Ultra Clean Holdings, Inc., Press Release, October 2023)
IoT Valve Market Report Coverage and Deliverables
The "IoT Valve Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- IoT valves market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- IoT valve market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- IoT valve market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the IoT valve market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Rising energy and water conservation efforts, increasing demand for automation and smart solutions in industries, growing need for remote monitoring and control systems in industrial process, and rising implementation of safety and compliance regulations in industrial process are the major factors that propel the global IoT valves market.
The global IoT valves market was estimated to be US$ 1.29 billion in 2023 and is expected to grow at a CAGR of 10.4 % during the forecast period 2023 - 2031.
Increasing integration of IoT with blockchain, which is anticipated to play a significant role in the global IoT valves market in the coming years.
The global IoT valves market is expected to reach US$ 2.85 billion by 2031.
The incremental growth expected to be recorded for the global IoT valves market during the forecast period is US$ 1,561.95 million.
The key players holding majority shares in the global IoT valves market are Flowserve Corp, Carrier Global Corp, Siemens AG, Belimo Aircontrols (Can.) Inc, and IMI Hydronic Engineering.
The List of Companies - IoT Valve Market
- Klinger Holding GmbH
- KTW Technology GMBH
- Carrier Global Corp
- IMI Plc
- Ultra Clean Holdings Inc
- Siemens AG
- Flowserve Corp
- Honeywell International Inc
- Larsen & Toubro Ltd
- Belimo Holding AG
- Smart Wires Inc
- Flow Dynamics LLC
- IoT Technologies
- ChengDu ZhiCheng Technology Co., Ltd.
- Teksun Inc.
- Autorun Control Valve Co.,Ltd.
- Ham-Let Group
- Rusco
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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