Rising Demand for Industrial Automation Is Expected to Boost the Growth of the Global Remote Monitoring and Control Market During the Forecast Period

Remote Monitoring and Control Market - Global Industry Analysis and Forecast 2020 to 2027

Global Remote Monitoring and Control Market: Key Highlights

  • The global remote monitoring and control market is segmented by into component and industry.
  • Based on basis of end-user, the market is sub segmented into oil & gas, metals & mining, chemicals, pulp & paper, power, food & beverages, water and wastewater, pharmaceuticals and others. The water and wastewater industry is projected to grow at the highest market share in the forecast period. the SCADA systems is being used in a water treatment plant and wastewater treatment plant for the purpose of regular monitoring and regulating of the water flow, reservoir levels, and pipe pressure.
  • On the bases of region, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
  • North America accounted for the major market share with the presence of major numbers of enterprises as well as the rising adoption of remote monitoring.
  • Top players that account for the major share include ABB Ltd, Emerson Electric Co., Endress+Hauser Group Services AG, Fuji Electric Co., Ltd, General Electric Company, Honeywell International Inc., Rockwell Automation, Inc., Schneider Electric, Siemens, Yokogawa Electric Corporation, and among others.

Remote Monitoring and Control Market

Global Remote Monitoring and Control Market: Key Market Dynamics

  • There has been rising demand for industrial automation is play a significant role for the remote monitoring and control market. The industrial automation as well as the process control is being increasing at the fast rate by integration of SCADA with field instruments and mobility solutions, which includes smartphones, tablets, and other solutions.
  • The growing demand for industrial mobility is also lead to enhance the demand of the Remote Monitoring and Control Market growth.  
  • Further, growing awareness about energy efficiency is create a significant opportunities for the market.
  • However, high cost of implementation are hindering the growth of the market.

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Global Remote Monitoring and Control Market: Regional Overview

  • North America:
    • North America region is further divided in to US, Canada and Mexico. Globally, North America accounted for the major market share.
    • North America accounted for the major market share with the presence of major numbers of enterprises as well as the rising adoption of remote monitoring.
    • The US Centers for Medicare and Medicaid Services, has also expanded Medicare coverage for remote patient monitoring to include patients with acute conditions as well as the new patients and the existing patients.
    • On 2020, the US Food and Drug Administration (FDA) had expands guidance on remote monitoring devices for COVID-19.
  • Asia-Pacific
    • Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea.
    • Asia Pacific is projected grow at the fastest growth rate, with the chemicals, power, automation, water and waste water industries is projected to boost the industrial growth in this region.
    • The growing in technological advancement in network facilities as well as the rising in urbanization and industrialization of the region lead to create an opportunities for the market growth.
    • For example, the growing in the primary energy consumption as well as the investments in waste water management would lead to boost the demand of the market in countries such as China and India.

Global Remote Monitoring and Control Market: Key Players

Some of the key players operating in the market include ABB Ltd, Emerson Electric Co., Endress+Hauser Group Services AG, Fuji Electric Co., Ltd, General Electric Company, Honeywell International Inc., Rockwell Automation, Inc., Schneider Electric, Siemens, Yokogawa Electric Corporation, and among others.

Global Remote Monitoring and Control Market: Key Developments

  • On November 2019, Emerson had launches IIoT-enabled Connected Services to support multiphase flow meters in unconventional shale.
  • On November 2018- Honeywell had introduced that Honeywell Connected Plant Thermal IQ, a cloud-based remote monitoring system, which enable to monitor and manage the thermal process data, is now available to customers in the EMEA region.
  • On November 2018, Rockwell Automation, Inc. has Introduces the Connected Mine. The Connected Mine will lead to support the mining companies collect as well as aggregate data to get end-to-end visibility into their operations. Also to make informed business decisions to enhance the mining operations.

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Rep Id : SC 0123

Published : 2020-10-16