The internal combustion engine (ICE) finds its place in the market with latest design modifications in various components to improve efficiency, economy and overall performance. However, one component has remained unchanged in the internal combustion engine development i.e., the camshaft, has been the primary means of controlling the valve actuation and timing, and therefore, influencing the overall performance of the vehicle. Camless technology is capturing the future of internal combustion engines. It has been known to man that if valves could be controlled independently in an Internal Combustion Engine then there would be benefits like increased power, reduced emissions and increased fuel economy. In the camless technology valve motion is operated by valve actuators of electro-mechanical and electro-hydraulic type. In this paper we compare camless valve operation with conventional valve operation and we deal with the valve actuating mechanisms of camless engine by considering the electromechanical and electrohydraulic actuators as the important types of actuating valves in camless engines.