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Remote Monitoring and Control Market Size & Share - Industry Trends and Forecast 2017 - 2025
The objectives of this study are as follows:
To define, describe, and forecast the "Remote Monitoring and Control " market by type, application, component, delivery model, end user, and region
To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW)
To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
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The remote monitoring and control systems facilitate efficient controlling and monitoring of processes across industries such as oil & gas, power generation, chemicals and wastewater industries. The field instruments are basic building blocks of the remote processes and are used to supervise various parameters such as temperature, level, pressure, and flow rate across numerous applications.
Increasing industrial automation demand coupled with requirement of industrial mobility and asset excellence in the process industry is expected to propel the remote monitoring and control market over the forecast timeframe. The sources used for power generation are limited and thus the optimum utilization of these non-renewable resources are of utmost importance. Emphasis on industrial safety and their health is anticipated to drive the emergency shutdown systems in the power industrial applications. Safety valves, safety sensors and switches are wise used in power industries.
The SCADA system applications in the power sector helps in improving the productivity of the system by providing efficient control and supervision. Each process in power sector requires temperature measurement for various controlled operations. Pressure transmitters are commonly used inside the coal processing units to monitor their pressure inside the dryer units.
Power monitoring and connectivity unite in fight against downtime as reducing downtime involves the remote control and monitoring. Most of the electrical components such as trip units, and meters can be connected by increasing their ability to provide alerts via email or on smartphones for efficiently handling the operations. The operators can access the historical and real-time information to find the alarm causes and eliminating it. Systems coupled with automatic control capabilities can immediately take responsive steps to restore the power and preserve the loads while analysing the problems.
The most versatile monitoring and control systems offer fully integrated processors for complex controlling tasks such as generator paralleling and starting, demand control and load shedding. These systems also include safe failure modes, hot backup and supports common programming language as these systems are commonly used for mission-critical operations.
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Packaging segment is expected to witness highest growth prospects amongst other applications with the packaging equipment coupled with the Industrial Internet of Things (IIoT) over the forecast timeline. The manufacturers are taking advantage of smartphone connectivity, social media and internet linkages in packaging industry. Equipment which offers automation and control through smart connectivity improves the flexibility by providing manufacturers with the data and analytics associated with the databases for making better decisions. Manufacturers across all industries are taking advantage of the benefits to remain competitive in the market enhance the product quality thereby improving the customer satisfaction.
Downfall in petroleum prices is one of the key restraining factor for remote monitoring and control market as it is adversely affecting the bottom lines of the major participants involved in the value chain of the oil and gas industry. Therefore, these factors are expected to halt the investments in oil and gas industry which shall further impact the remote monitoring and control systems market globally.
The Asia Pacific remote monitoring and control market is expected to grow with the highest CAGR from 2017 to 2025. Chemicals, power, automation, water and waste water industries is anticipated to drive the industrial growth in this region. Increasing primary energy consumption and investments in waste water management would propel the market demand in emerging economies such as China and India.
The remote monitoring and control market can be segmented by type into solutions and field instruments. Pressure transmitter, humidity transmitter, temperature transmitter, flow meter and level transmitter constitute the field instruments. By application, the industry can be classified into power generation, oil & gas, chemicals, pulp & paper, water & wastewater, metal & mining, and food & beverage industries.
The prominent industry vendors of the remote monitoring and control systems market are Honeywell International, Emerson Electric, Schneider Electric, ABB Ltd., Rockwell Automation, General Electric Co., Yokogawa Electric Corporation, Endress+Hauser AG, and Fuji Electric Co. Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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