Global Remote Monitoring and Control Market Growth Opportunities, Sales Revenue, Developments and Regional Forecast 2027
Market Highlights
The Global remote monitoring and control system accumulates 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 market. The Global Remote Monitoring and Control Market is predicted to touch USD 23 billion at a 5% CAGR between 2017- 2023 states the recent Market Research Future (MRFR) analysis.
Market 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 market.
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Key Players
Notable players profiled in the global remote monitoring and control market report include Endress+Hauser AG (Switzerland), Fuji Electric Co., Ltd. (Japan), General Electric Co. (US), Yokogawa Electric Corporation (Japan), ABB Ltd. (Switzerland), Schneider Electric SE (France), Rockwell Automation, Inc. (US), Emerson Electric Co. (US), and Honeywell International Inc (US), among others. Industry players have encompassed various strategies to stay ahead in the competition, such as R&D, mergers and acquisitions, product launches, to name a few.
Regional Analysis
By region, the global remote monitoring and control market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, North America is predicted to spearhead the market over the forecast period. Increasing automation, rising adoption by pharmaceutical industries, growing primary energy consumption, and investments in wastewater treatment are adding to the global remote monitoring and control market growth in the region.
The global remote monitoring and control market in the APAC region is predicted to grow at a fast pace over the forecast period. Burgeoning demand from the wastewater, water, chemicals, and power industry in India & China, rising energy demand, focus on conserving water, firm regulation related to industrial wastewater disposal, and growing demand for resource utilization and to attain excellence in different industries are adding to the global remote monitoring and control market growth in the region.
The global remote monitoring and control market in Europe is predicted to have healthy growth over the forecast period while that in the RoW is predicted to have sound growth over the forecast period.
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