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Comprehensive Remote Monitoring And Control Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Remote Monitoring And Control
Remote Monitoring And Control Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the last few years, the market size for remote monitoring and control has seen consistent growth. The market is set to expand from $29.15 billion in 2024 to $30.38 billion in 2025, boasting a compound annual growth rate (CAGR) of 4.2%. Several factors have driven growth during the historical period, including the adoption of industry automation and efficiency, increased demand for real-time monitoring, cost reduction, resource optimization, escalating complexity of industrial processes, as well as a focus on safety and compliance.
Remote Monitoring And Control Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for considerable expansion in the remote monitoring and control market over the coming years, with predictions placing its value at $39.44 billion by 2029, a trajectory indicating a compound annual growth rate (CAGR) of 6.7%. This projected growth during the forecast period is connected to digital transformation drives, incorporation of IoT and data analytics, an emphasis on energy efficiency and sustainability, the broadening scope of the industrial Internet, and business continuity and resilience. Noteworthy trends for the forecast period encompass integration with 5G technology, prioritizing remote asset management, the use of augmented reality (AR) for remote support, the application of remote monitoring in agriculture, and regulatory compliance concerning remote monitoring solutions.
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What Are the Drivers Transforming the Remote Monitoring And Control Market?
The growth of the remote monitoring and control market is anticipated to be propelled by the escalating demand for automation. Automation technology, which requires significantly less human intervention for task completion, relies heavily on remote monitoring and control for the safe oversight of potentially hazardous machinery and systems. The growing requirement for automation pencils in a demand upsurge for remote monitoring and control solutions. As an example, Paperform, an online form builder based in Australia, reported in December 2022 that as of 2022, 76% of businesses are implementing automation to standardize or automate everyday workflows. Additionally, 58% use automation for planning data/reporting, and 36% utilize it for regulatory or compliance applications. As a result, the growing demand for automation is bolstering the expansion of the remote monitoring and control market.
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What Are the Key Trends Driving Remote Monitoring And Control Market Growth?
In order to maintain their market dominance, major firms in the remote monitoring and control industry are concentrating on crafting novel technologies, such as automation platforms. Emerson, an Information technology solutions firm based in the US, provides a case in point. In July 2024, Emerson rolled out Ovation 4.0, a significant upgrade to its automation platform targeted specifically at improving operational competencies in the power and water sectors. This innovative version incorporates a software-defined architecture that harnesses data and artificial intelligence (AI). By addressing the principal issues encountered by utilities, Ovation 4.0 succeeds in modernizing their operations. The platform increases availability and performance, allowing utilities to more efficiently manage a diverse set of energy resources, including traditional and renewable varieties.
Which Segments in the Remote Monitoring And Control Market Offer the Most Profit Potential?
The remote monitoring and controlmarket covered in this report is segmented -
1) By Type: Solutions, Field Instruments
2) By Action: Monitoring, Control
3) By Industry: Oil And Gas, Chemical, Water And Wastewater Treatment, Metals And Mining, Food And Beverages, Power, Automotive, Pharmaceutical, Other Industries
Subsegments:
1) By Solutions: Cloud-Based Solutions, Software Applications
2) By Field Instruments: Sensors, Actuators, Controllers
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Which Firms Dominate the Remote Monitoring And Control Market by Market Share and Revenue in 2025?
Major companies operating in the remote monitoring and control market include Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric, Honeywell International Inc., ABB Ltd, Schlumberger Limited, Johnson Controls International plc, Larsen & Toubro Ltd., Eaton Corporation plc, Texas Instruments Incorporated, Nidec Corporation, Emerson Electric Co, Bosch Rexroth AG, Rockwell Automation Inc., OMRON Corporation, Fanuc Corporation, Teledyne Technologies Incorporated, Phoenix Contact GmbH & Co KG, Sensata Technologies Inc., Endress+Hauser Group Services AG, Yokogawa Electric Corporation, Advantech Co Ltd., National Instruments Corporation, Fuji Electric Co Ltd., ICONICS Inc., KROHNE Messtechnik GmbH, SICK AG, ProSoft Technology Inc., Novatech Measurements Limited, Toshiba Corporation
Which Regions Offer the Highest Growth Potential in the Remote Monitoring And Control Market?
Asia-Pacific was the largest region in the global remote monitoring and control market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global remote monitoring and control market during the forecast period. The regions covered in the remote monitoring and control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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