The report of global remote monitoring and control market by Component (Solutions [SCADA, Emergency Shutdown System] Field Instruments [Pressure Transmitter, Temperature Transmitter, Humidity Transmitter, Level Transmitter, Flowmeter) Industry (Oil & Gas, Metals & Mining, Chemicals, Pulp & Paper, Power, Food & Beverages, Water and Wastewater, Pharmaceuticals, Others) Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during a forecast period.
Remote monitoring and control system is automation system designed to control and monitor essential facilities in the industries such as oil and gas, chemicals, water and wastewater and more. It reduces maintenance trips, improves customer service and gets full control of industrial machinery and devices at any time from anyplace.
Asia Pacific is witnessing the fastest market growth at CAGR of XX%.
Asia pacific held the largest market share in 2019 and is expected to witness fast growth at CAGR of XX% during forecast period. The developing countries such as China, India and Japan are dominating the market. This is owing to the vast presence of oil and gas industry across the region. Also, rising investments in waste water management and primary energy consumption and increasing security concerns related with leakage of hazardous gases from oil and gas industry are further propelling the growth of market.
North America followed by Europe is expected to witness fast growth during forecast period. The US, Canada, UK, Germany and France are dominating the market. The growth is attributed to the presence of large companies such as Honeywell in the region.
In Nov 2018, Honeywell announced that Honeywell Connected Plant Thermal IQ, a cloud-based remote monitoring system designed to monitor and manage critical thermal process data, is now available to customers in the EMEA region. This cyber secure offering is part of Honeywell’s asset performance management (APM) portfolio that helps customers improve asset performance, which ultimately increases plant uptime.
Key players in global remote monitoring and control market are Emerson Electric Co, Honeywell International Inc, Schneider Electric SE, General Electric Co, ABB Ltd, Rockwell Automation, Inc, Yokogawa Electric Corporation, Endress+Hauser AG, Fuji Electric Co, Teracom, Leotech, ITarian, Omega, Zeal Environmental, Cummins and Rubicon.
Maximize Market Research, India market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Remote Monitoring and Control Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Remote Monitoring and Control Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Global Remote Monitoring and Control Market positioning of competitors.
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