Remote Monitoring and Control Market Worth 27.11 Billion USD by 2023
Monday, July 17, 2017
PUNE, India, July 17, 2017 /PRNewswire/ --
According to a new market research report "Remote Monitoring and Control Market By
Solutions (SCADA and Emergency Shutdown System), Field Instruments (Pressure Transmitter,
Temperature Transmitter, Humidity Transmitter, Level Transmitter, Flowmeter), Industry and
Region-Global Forecast to 2023", published by MarketsandMarkets(TM), the Remote Monitoring
And Control Market is expected to be valued at USD 27.11 Billion by 2023, at a CAGR of
4.47% between 2017 and 2023.
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Browse 66 Market Data Tables and 45 Figures spread through 155 Pages and in-depth TOC
on "Remote Monitoring and Control Market"
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The key driving factors for the growth of the remote monitoring and control market are
increasing demand for industrial automation and optimum utilization of assets and rising
demand for industrial mobility for remotely managing the industrial process.
"Field instruments to hold the largest market share in the remote monitoring and
control market during the forecast period"
Field instruments are basic building blocks for remote process parameters measurement
such as mass flow, continuous level detection, point level detection, temperature, and
pressure. Thus, their wide acceptance across different processes in industries such as
power, chemicals, food & beverages, pulp & paper, and oil & gas amassed huge installation
base for them globally.
"Power industry is expected to drive the growth for SCADA and emergency shutdown
system between 2017 and 2023 in remote monitoring and control market"
Resources used for power generation are limited, and hence the optimum utilization of
those resources is of prime importance. Emphasis on industrial safety and health is
expected to drive the growth of emergency shutdown system in the power industry. Safety
switches, safety valves, and safety sensors are widely used in the power industry. The
application of SCADA systems in the power industry improves the productivity of the whole
system by providing supervision and control. Every process in the power industry requires
temperature measurement for controlled operation of the process. Pressure transmitters are
usually used inside coal processing unit to monitor pressure inside dryer units.
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"Market in APAC is expected to drive the growth of remote monitoring and controls
between 2017 and 2023"
APAC is an emerging market for remote monitoring and controls. Power, chemicals, and
water and wastewater industry are expected to drive the growth of the market in APAC lead
by China and India. Growing energy demand, emphasis to conserve water, and firm regulation
pertaining to industrial wastewater disposal are some key factors to foster the growth of
the market in APAC.
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The major players involved in this market include Emerson Electric Co. (US), Honeywell
International Inc. (US), Schneider Electric SE (France), ABB Ltd. (Switzerland), Rockwell
Automation, Inc. (US), Yokogawa Electric Corporation (Japan), Endress+Hauser AG
(Switzerland), General Electric Co. (US), and Fuji Electric Co., Ltd. (Japan).
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Industry, and Geography - Global Forecast to 2023
Industrial Automation Market for Oil & Gas by Solution (Distributed Control System,
Programable Logic Controller, SCADA), Instruments (Field Instruments, Control Valve,
Leakage Detection System, Flow Computer), and Geography - Global Forecast to 2023
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