Press Release / Technology / Remote Monitoring and Control Market to Witness an Outstanding Growth During 2018 to 2023

Remote Monitoring and Control Market to Witness an Outstanding Growth During 2018 to 2023

Market Highlights:

The 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 market is estimated to have a high growth rate over the forecast period.

The factors contributing to the growth of the remote monitoring and control market 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 market 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.

However, factor which is hindering the growth of the market is the downfall in raw material prices. Easy availability of alternatives also acts a barrier in the growth of the remote monitoring and control market. The market is expected to grow over the forecast period.

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Major Key Players

Honeywell International Inc. (US),

Emerson Electric Co. (US),

Rockwell Automation, Inc. (US),

General Electric Co. (US),

Schneider Electric SE (France),

ABB Ltd. (Switzerland),

Yokogawa Electric Corporation (Japan),

Fuji Electric Co., Ltd. (Japan) and Endress+Hauser AG (Switzerland)

According to Market Research Future Analysis, Remote Monitoring and Control Market has been valued at USD 23 billion by 2023 growing with 5% of CAGR during forecast period 2017 to 2023.

Regional Analysis

Regionally, North-America accounted for the largest market share majorly due to presence of large numbers of enterprises, increasing adoption of remote monitoring and control by the pharmaceuticals industry and increasing automation. However, Asia-Pacific region is expected to boost the growth of the remote monitoring and control market majorly due to rising demand for utilization of resources and to achieve excellence in various industries.

Segments

For the purpose of this study, Market Research Future has segmented the market of remote monitoring and control into component end-users and region.

Component

Solutions
Instruments
End-users

Chemicals
Oil & Gas
Metals
Mining
Power
Food & Beverages
Water and Wastewater
Pharmaceuticals
Others
Region

North-America
Europe
Asia-Pacific
RoW
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Intended Audience

Manufacturers
Distributors
Research firms
Consultancy firms
Software Developers
Vendors
Semiconductor Manufacturers
End-user sectors
Technology Investors
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