Remote Monitoring and Control Industry Segments Poised for Strong Growth in Future 2023

Market Highlights

The factors contributing to the growth of the Remote Monitoring and Control Industry are the growing demand for industrial automation, asset excellence, and the rising demand industrial mobility in the process industry. Also, initially Remote Monitoring and Control Industry was developed to address various issues such as issues related to remote site and local area network. The system specifies a group of functions and statistics.

The remote monitoring and control system accumulate various information types such as bytes, packets among others. The system also uses certain network devices and contains network management. It controls the network by using its servers and applications simultaneously. Factors such as growth in power industry and increasing in industrial automation are the factors boosting the growth of the Remote Monitoring and Control Industry. The market is estimated to have a high growth rate over the forecast period.

Major Key players

• Honeywell International Inc. (US)

• Emerson Electric Co. (US)

• Rockwell Automation, Inc. (US)

• Schneider Electric SE (France)

• ABB Ltd. (Switzerland)

• Yokogawa Electric Corporation (Japan)

• General Electric Co. (US)

• Fuji Electric Co., Ltd. (Japan)

• Endress+Hauser AG (Switzerland)

Regional Analysis:

The global Remote Monitoring and Control Industry is expected to grow significantly over the forecast period, 2017-2023. Power segment of Remote Monitoring and Control Industry globally drives the market. The market is expected to have higher growth rate as compared to the previous years.

Asia-Pacific region is expected to boost the market over the forecast period, 2017-2023. Countries such as India and China contributes largely to the growth of the market. The reason is attributed to the growing industries such as power, chemicals in these region, increasing demand for energy and emphasis to conserve water. Furthermore, Remote Monitoring and Control Industry has an immense scope in this region majorly due to various regulations pertaining to industrial wastewater disposal.

Segmentation:

According to Market Research Future, market has been segmented into component, end-users and region.

On the basis of component, the market has been bifurcated into solutions and instruments. Out of these components, instruments accounted for the largest market share because field instruments are basic building blocks for remote process parameters measurement such as mass flow, continuous level detection, point level detection, temperature, and pressure.

On the basis of region, the market has been segmented into North-America, Europe, Asia-Pacific and Rest of the world. North American region dominated the Remote Monitoring and Control Industry.

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