DUBLIN, July 21, 2017 /PRNewswire/ -- The "Remote Monitoring and Control Market - Global Forecast to 2023" report has been added to Research and Markets' offering.
The remote monitoring and control market is expected to reach USD 27.11 Billion by 2023, at a CAGR of 4.47% between 2017 and 2023. The growth of this market is propelled by various factors such as increasing demand for industrial automation, asset excellence, and requirement for industrial mobility in the process industry.
Remote monitoring and control solutions such as SCADA and emergency shutdown system are expected to grow at the highest CAGR during the forecast period. Industrial automation and process control are growing rapidly with the integration of SCADA with field instruments and mobility solutions such as smartphones, tablets, and other solutions leading to the growth of the said market. Industries such as oil & gas, chemicals, and power are the key users of SCADA and emergency shutdown system.
The water and wastewater industry is expected to grow at the highest CAGR during the forecast period. SCADA systems are used in a water treatment plant as well as a wastewater treatment plant for continuously monitoring and regulating the water flow, reservoir levels, and pipe pressure, among others. SCADA controls the automatic operations such as the pressure of the system, water tank levels, the temperature of the plant, chemical treatment, filtration, sedimentation, and other parameters. Field instruments such as a level transmitter and pressure transmitter are also used in the water and wastewater industry to monitor crucial parameters such as level and pressure, respectively.
The market in APAC is expected to grow at the highest CAGR between 2017 and 2023. Power, chemicals, water and wastewater industries are expected to drive the growth of the remote monitoring and control market in APAC. Investment in wastewater management and growing primary energy consumption are some factors that would fuel the growth for remote control and monitoring market in APAC. China and India are the frontrunners to lead the growth of this market in APAC.
One of the key restraining factors for the remote monitoring and control market is the downfall in petroleum prices. This is adversely impacting bottom lines of major players involved across the value chain of the oil & gas industry. Thus, this would halt the further investment in oil & gas activities, which would also affect the remote monitoring and control market globally.
Companies Mentioned
- Abb Ltd.
- Azbil Corporation
- Brooks Instruments
- Danfoss
- Dwyer Instruments, Inc.
- Emerson Electric Co.
- Endress+Hauser Ag
- Fuji Electric Co., Ltd.
- General Electric Co.
- Hima Paul Hildebrandt Gmbh
- Hitachi Ltd.
- Honeywell International Inc.
- Iconics Inc.
- Johnson Controls Inc.
- Krohne Messtechnik Gmbh
- Mitsubishi Electric Corp.
- Omron Corporation
- Proserv Ingenious Simplicity
- Rockwell Automation Inc.
- Schneider Electric Se
- Siemens Ag
- Sierra Instruments Inc.
- Vega Grieshaber Kg
- Wika Alexander Wiegand Se & Co. Kg
- Yokogawa Electric Corporation
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Remote Monitoring And Control Market, By Type
8 Remote Monitoring And Control Market, By Industry
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/tccw8r/remote_monitoring
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