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.
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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.
Remote Monitoring can be explained as a type of specification that facilitates the observation of network operational activities through various remote devices known as monitors or probes.
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Monitoring and control can be explained as control of any system or network through automated procedures and which is generally controlled with a unit.
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.
Geographically, North-America accounted for the largest market share in the global remote monitoring control market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2017-2023.
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Major Key Players:
- Honeywell International Inc. (US)
- Emerson Electric Co. (US)
- Rockwell Automation, Inc. (US)
- Schneider Electric SE (France)
- ABB Ltd. (Switzerland)
- Yokogawa Electric Corporation (Japan)
- General Electric Co. (US)
- Fuji Electric Co., Ltd. (Japan)
- Endress+Hauser AG (Switzerland)
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.
Remote Monitoring and Control Market:
According to Market Research Future, market has been segmented into component, end-users and region.
On the basis of component, the market has been bifurcated into solutions and instruments. Out of these components, instruments accounted for the largest market share because field instruments are basic building blocks for remote process parameters measurement such as mass flow, continuous level detection, point level detection, temperature, and pressure.
On the basis of region, the market has been segmented into North-America, Europe, Asia-Pacific and Rest of the world. North American region dominated the remote monitoring and control market.
Market Research Future Analysis:
The global Remote Monitoring and Control Market is expected to grow significantly over the forecast period, 2017-2023. Power segment of remote monitoring and control market globally drives the market.
The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region is expected to boost the market over the forecast period, 2017-2023. Countries such as India and China contributes largely to the growth of the market.
The reason is attributed to the growing industries such as power, chemicals in these region, increasing demand for energy and emphasis to conserve water. Furthermore, remote monitoring and control market has an immense scope in this region majorly due to various regulations pertaining to industrial wastewater disposal.
For the purpose of this study, Market Research Future has segmented the market of remote monitoring and control into component end-users and region.
- Oil & Gas
- Food & Beverages
- Water and Wastewater
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
List of Tables
Table 1 Remote Monitoring and Control Market, By Component
Table 2 Remote Monitoring and Control Market, By End-Users
Table 3 Remote Monitoring and Control Market, By Geography
List of Figures
Figure 1 Research Methodology
Figure 2 Remote Monitoring And Control Market, By Component (%)
Figure 3 Remote Monitoring And Control Market, By End-Users (%)
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