Radio Remote Control Market Growth | Global Industry Top Players: Emerson Electric Co. (US), ABB Ltd. (Switzerland), Honeywell International Inc. (US), Siemens AG (Germany), and Schneider Electric SE (France).

Global Radio Remote Control Market Overview:

The Radio Remote Control market is expected to reach USD XX Billion by 2022, at a CAGR of XX% between 2017 and 2022. It is expected that radio remote control solutions, such as the SCADA system and the emergency closure system will grow to the highest level of the CAGR during the forecast period. Industrial automation and process control are growing rapidly with the integration of SCADA with field instruments and mobility solutions such as smartphones, tablets and other solutions to grow the market. Industries such as oil and gas, chemicals and energy are the main users of the SCADA system and the emergency shutdown system.

The water and wastewater industry is expected to grow at the maximum annual growth rate during the forecast period. SCADA systems are used in a water treatment plant to continuously monitor and regulate water flow, deposit levels and pipeline pressure, among others. SCADA controls automatic operations such as system pressure, water tank level, plant temperature, chemical treatment, filtration, sedimentation and other parameters. Field instruments, such as a level transmitter and pressure transmitter, are also used in the wastewater industry to monitor critical parameters such as level and pressure, respectively.

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Drivers and Restraints:

The growth of this market is propelled by various factors such as increasing demand for industrial automation, asset excellence, and requirement for industrial mobility in the process industry. One of the key restraining factors for the Radio Remote Control market is the downfall in petroleum prices. This is adversely impacting bottom lines of major players involved across the value chain of the oil & gas industry. Thus, this would halt the further investment in oil & gas activities, which would also affect the market globally.

Geographic Segmentation:

Geographically, the report is segmented across four regions, namely North America, Europe, Asia Pacific, and LAMEA. Presently, North America occupies most of the market share followed by Europe and the Asia Pacific region. Among all the geographical regions, the U.S. was the largest market in the year 2010 closely followed by China. The APAC market is expected to grow at the highest annual growth rate between 2017 and 2022. It is expected that the energy, chemical, water and wastewater industries will stimulate growth in the market for Radio Remote Control. Investment in wastewater management and the increase in primary energy consumption will boost growth in the market in the Asia-Pacific region. China and India are leaders in the growth of this Asian market.

The key market players include Emerson Electric Co. (US), ABB Ltd. (Switzerland), Honeywell International Inc. (US), Siemens AG (Germany), and Schneider Electric SE (France).

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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