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Global Remote Monitoring And Control Strategic Business Report 2023: IIoT-Powered Remote Monitoring Systems Deliver Compelling Advantages

By PR Newswire

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DUBLIN, July 11, 2023 /PRNewswire/ -- The "Remote Monitoring and Control: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Remote Monitoring and Control estimated at US$25.7 Billion in the year 2022, is projected to reach a revised size of US$40 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2022-2030.

Field Instruments, one of the segments analyzed in the report, is projected to record 5.3% CAGR and reach US$24.9 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Solutions segment is readjusted to a revised 6.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $8.3 Billion, While China is Forecast to Grow at 7.3% CAGR

The Remote Monitoring and Control market in the U.S. is estimated at US$8.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$9.2 Billion by the year 2030 trailing a CAGR of 7.3% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.

Select Competitors (Total 72 Featured) -

  • ABB Ltd
  • Cummins
  • Danfoss A/S
  • Emerson Electric Co
  • Endress+Hauser AG
  • Fuji Electric Co., Ltd
  • General Electric Co
  • Hitachi Ltd
  • Honeywell International Inc
  • ICONICS, Inc
  • ITarian LLC
  • KROHNE Messtechnik GmbH
  • Larsen & Toubro
  • Leo Tech
  • M.B. Control & Systems Pvt. Ltd
  • Omega Engineering, Inc.
  • OMRON Corporation
  • Rockwell Automation, Inc
  • Rubicon Water
  • Schneider Electric SE
  • Teracom Ltd
  • Yokogawa Electric Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 and a Looming Global Recession
  • An Introduction to Remote Monitoring and Control
  • Advantages of Remote Monitoring
  • Global Market Outlook & Prospects
  • Solutions Emerge as the Largest Segment
  • Regional Markets
  • Competition
  • World Brands
  • Recent Market Activity
  • Remote Monitoring and Control - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Industrial Automation Trend in Multiple Industries & the Need for Remote Monitoring of Industrial Processes Support Growth
  • Spending on Industrial Automation Spurs Interest in Remote Monitoring and Control Systems and Solutions: Global Industrial Automation Market (in US$ Billion) for the Years 2019, 2022, 2024 and 2026
  • Increasing Role of SCADA in Data, Energy and Diagnostic Management
  • Industry 4.0 or IIoT Improves Remote Control and Monitoring
  • IIoT-Powered Remote Monitoring Systems Deliver Compelling Advantages
  • COVID-19 Prompts Organizations to Bet on IIoT and Edge Computing to Adjust to New Normal
  • Industrial Mobility Enhances Need for Remote Monitoring and Control
  • Smartphone Usage in the Industrial Era of Interconnectivity & Open Communication Presents Opportunities for Remote Monitoring & Control: Global Shipments of Smartphones (in Million Units) for the Years 2011 through 2019
  • Mobile SCADA Comes into the Spotlight as a Promising Technology
  • Convergence of Emerging Technologies Brings Intelligent Connectivity & Enables Remote Monitoring
  • 5G to Help SCADA Emerge as Major Building Block for Smart Factories
  • Protection of Critical Infrastructure Drives Adoption of Remote Monitoring in Energy & Utilities Industry
  • Projected Infrastructure Investments in the Energy Sector Sets the Business Climate for Remote Monitoring & Control in Utilities: Global Cumulative Infrastructure Spending (In US$ Trillion) by Sector during 2016-2030
  • SCADA Gains Traction in Renewable Energy Plants
  • SCADA Vital for Smart Grid Decision Making
  • Global Smart Grid Revenues in US$ Million for the Years 2018, 2021 and 2024
  • Oil & Gas Industry: Remote Monitoring and Control Helps Real-Time Surveillance of Hazardous & Remote Sites
  • As Digital Technologies Penetrate the Oil & Gas Industry to Relieve Cost & Efficiency Pressures, Remote Monitoring and Control Systems Poised to Benefit: Global Spending on Digital Oilfield Technologies (In US$ Billion) for the Years 2019, 2021 and 2023
  • Remote Monitoring's Growing Role in Proactive Maintenance of Water & Wastewater Networks
  • Smart Water Networks Drives SCADA Demand
  • Cloud Implementation Gains Prominence in Remote Monitoring and Control
  • Cloud-based SCADA Continues to Make Strong Gains
  • Growing Adoption of Cloud SCADA-as-a-Service
  • SCADA Systems Find Increased Application in the Agriculture Sector
  • Remote Monitoring and Management of SCADA Systems Fuels Development of SCADA-HMI Applications
  • RTUs: The Fundamental Building Block for SCADA Systems
  • Advanced PLCs Emerge as Replacements for RTUs
  • Edge Controllers Drive Advancements in Remote Monitoring Capabilities
  • Primary Benefits of Edge Processing
  • Equipment Makers Exploit Remote Machine Monitoring to Improve Service Levels
  • Emergency Shutdown Systems: Vital Part of Remote Monitoring and Control
  • Risk of Cybersecurity Breaches in SCADA Systems

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/pgr3js

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SOURCE Research and Markets

First published on Wed, Jul 12, 2023

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