Global Remote Monitoring and Control System Market, By Type (Solutions and Field Instruments), By Industry (Oil and Gas, Power Generation, Chemicals, Water and Wastewater, Pulp and Paper, Metals and Mining, Food and Beverages, Pharmaceuticals and Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
In the past years, remote monitoring and control systems have been of great use across various industries, power generation, wastewater, oil and gas, and chemical industries. These systems are considered basic building blocks of the remote processes. The remote monitoring and control systems are widely being utilized for supervising various parameters such as level, flow rate, temperature, and pressure.
Global Remote Monitoring and Control System Market was valued at USD 26.59 billion in 2021 and is expected to reach USD 39.55 million by 2029, registering a CAGR of 5.09% during the forecast period of 2022-2029. “Water and Wastewater” is expected to witness high growth during the forecast period owing to the use in a water treatment plant as well as a wastewater treatment plant. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Remote monitoring and control systems refer to the solutions that are specifically made for the primary usage of controlling complex. These systems assist in controlling facilities, such as airports, network operations centers, space crafts, power plants, and factories, among others. The system is known to function by receiving data from several components of a system.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Solutions and Field Instruments), By Industry (Oil and Gas, Power Generation, Chemicals, Water and Wastewater, Pulp and Paper, Metals and Mining, Food and Beverages, Pharmaceuticals and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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ABB (Switzerland), Dresser-Rand (US), General Electric (US), Rockwell Automation, Inc. (US), Siemens (Germany), Emerson Electric Co. (US), COMPRESSOR CONTROLS CORPORATION (US), Schneider Electric (France), John Wood Group PLC (UK), Ingersoll Rand (Ireland), and Atlas Copco (Sweden), among others
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Market Opportunities
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Water Quality Monitoring Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand for Remote Monitoring and Control
The increase in adoption of remote monitoring and control systems owing to the time efficiency that the system provides acts as one of the major factors driving the growth of remote monitoring and control system market. The control monitoring systems can enhance security and productivity.
- Prevalence of Waterborne Diseases
The increase in prevalence of waterborne diseases accelerate the market growth. The implementation of government norms and regulations such as the Clean Water Act (CWA) and Safe Drinking Water Act (SDWA) for protecting water sources from contamination drives the market.
- Power Monitoring With Connectivity
The increase in demand for power monitoring with connectivity and remote monitoring systems helping users to considerably decline the downtime for great efficiency further influence the growth of the market. Also, the adoption across various industries to improve productivity, security, while reducing downtime and maintenance costs drives the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the remote monitoring and control system market.
Opportunities
Furthermore, increase in demand for field instrument integration with SCADA system extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, increase in demand for demand for industrial mobility for remote monitoring will further expand the market.
Restraints/Challenges
On the other hand, downfall in petroleum prices and high cost associated with the execution are expected to obstruct market growth. Also, concerns regarding the cybersecurity for SCADA system are projected to challenge the remote monitoring and control system market in the forecast period of 2022-2029.
This remote monitoring and control system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on remote monitoring and control system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Remote Monitoring and Control System Market
COVID-19 had a negative impact on various industries including remote monitoring and control system market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The remote monitoring and control system industry faced huge problems due to the shortage of laborers declining the low production. A decline in the demand for remote monitoring and control system was witnessed owing to the limited production and shut down of industries, such as oil and gas sectors, among others. However, the remote monitoring and control system market is expected to witness growth in demand after the post-covid-19 situation.
Global Remote Monitoring and Control System Market Scope and Market Size
The remote monitoring and control system market is segmented on the basis of type and industry. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Solutions
- Field Instruments
Industry
- Oil and Gas
- Power Generation
- Chemicals
- Water and Wastewater
- Pulp and Paper
- Metals and Mining
- Food and Beverages
- Pharmaceuticals
- Others
Water Quality Monitoring Market Regional Analysis/Insights
The remote monitoring and control system market is analyzed and market size insights and trends are provided by country, type and industry as referenced above.
The countries covered in the remote monitoring and control system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the remote monitoring and control system market because of the rise in the pattern of mechanical computerization in nations within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in investment in wastewater management and rise in the primary energy consumption in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Remote Monitoring and Control System Market
The remote monitoring and control system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to remote monitoring and control system market.
Some of the major players operating in the remote monitoring and control system market are
- ABB (Switzerland)
- Dresser-Rand (US)
- General Electric (US)
- Rockwell Automation, Inc. (US)
- Siemens (Germany)
- Emerson Electric Co. (US)
- COMPRESSOR CONTROLS CORPORATION (US)
- Schneider Electric (France)
- John Wood Group PLC (UK)
- Ingersoll Rand (Ireland)
- Atlas Copco (Sweden)
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