Remote Monitoring and Control Market by Solutions (SCADA and Emergency Shutdown System), Field Instruments (Pressure Transmitter, Temperature Transmitter, Humidity Transmitter, Level Transmitter, Flowmeter), Industry and Region - Global Forecast to 2023
“Remote monitoring and control market to exhibit significant growth potential between 2017 and 2023”
The remote monitoring and control market is expected to grow at a CAGR of 4.47% between 2017 and 2023 to reach USD 27.11 billion by 2023. The key driving factors for the growth of the remote monitoring and control market are increasing demand for industrial automation and optimum utilization of assets and rising demand for industrial mobility for remotely managing the industrial process.
“Oil & gas industry holds the largest market size for field instruments in remote control and monitoring market”
Field instruments are widely deployed across the value chain of the oil & gas industry to take multiple measurements regarding mass flow, level detection, temperature, and pressure. Triggered by growing energy demand from emerging economies, huge oil & gas exploration and production activities especially in nonconventional petroleum production during the past decade years created a huge installation base for field instruments in the oil & gas industry worldwide.
“APAC to be the fastest-growing market for remote monitoring and control during the forecast period”
APAC is an emerging market for the remote monitoring and controls. Power, chemicals, and water and wastewater industry are expected to drive the growth of the market in APAC lead by China and India. Growing energy demand, emphasis to conserve water and firm regulation pertaining to industrial wastewater disposal are some key factors to drive the growth of the market in APAC. The SCADA system in the power sector offers effective transmission and distribution in various substations.
The break-up of the profiles of primary participants for the report has been given below:
• By Company Type: Tier 1 = 30%, Tier 2 = 35%, and Tier 3 = 35%
• By Designation: C-Level Executives = 55%, D-Level Executives = 30%, and Others = 15%
• By Region: North America = 20%, Europe = 35%, APAC = 35%, and RoW = 10%
The key players in the market include Emerson Electric Co. (US), Honeywell International Inc. (US), Schneider Electric SE (France), General Electric Co. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), and Fuji Electric Co., Ltd. (Japan).
The research report on the global remote monitoring and control market covers different segments—type, industry, and geography. The market has been segmented on the basis of type into solutions (SCADA and emergency shutdown system) and field instruments (pressure transmitters, temperature transmitters, humidity transmitters, level transmitters, and flowmeters). Further, the remote monitoring and control market has been segmented on the basis of industries into oil & gas, metals & mining, chemicals, pulp & paper, power, food & beverage, water and wastewater, and pharmaceuticals. The report covers four major geographic regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, industry, and geography have been conducted to give an overall view of the remote monitoring and control market.
The value chain analysis included in the report to provide an in-depth insight into the remote monitoring and control market.
The major drivers, restraints, opportunities, and challenges for the remote monitoring and control market have been detailed in this report.
The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.
DIVE matrix provided in the report gives in-depth analysis of various manufacturers in the remote monitoring and control market and listed them in dynamic differentiators, innovators, visionary leaders, and emerging companies.