Share
Remote Monitoring and Control Market Size, Share, and Analysis, By Action (Monitoring, Control), By Type (Solutions(SCADA, Vibration monitoring), Field instruments(Level Transmitters, Pressure Transmitters, Temperature Transmitters, Intelligent Flow Meters)), By End user (Oil and gas, Power generation, Food and beverage, Water and wastewater, Chemical, Others) and Regional Forecasts, 2022-2032
The Remote Monitoring and Control market size was USD 16.78 billion in 2021 and projected to grow from USD 20.5 billion in 2023 to USD 50.6 billion by 2032, exhibiting a CAGR of 10.6% during the forecast period.
Remote Monitoring and Control (M&C) systems were designed to organize and control complex facilities like power plants, network operation centers, factories, airports etc. with a certain degree of automation. Data may be received to Monitoring and Control systems from sensors, user inputs, telemetry streams and pre-programmed procedures. The software may send telecommunication to computer systems, actuators or for few other devices.
Global Remote Monitoring and Control market is expected to reach USD 50.6 billion at a CAGR of 10.6% during forecast period owing to the discovery of wireless technology has enabled easier and faster implementation of remote monitoring and control systems. The implementation cost of remote monitoring and control solutions is low resulting in mobilizing the market. The adoption of remote monitoring and control solutions is increasing owing to the shortage of resources, as a single resource helps in monitoring multiple production lines, resulting in reduced costs.
Remote Monitoring and Control Market is classified based on the Action into Monitoring, Control. Monitoring segment dominates the Remote Monitoring and Control Market. Monitoring of various parameters like pressure, temperature, humidity level and flow is critical in industrial applications, and the processes requires monitoring & controlled environment. Field instruments produce signals which may be digital or analog that are monitored by remote stations.
Remote Monitoring and Control Market is classified based on the Type into Solutions, Field instruments. Field instruments dominates the Remote Monitoring and Control Market segment. This segment is further classified into Level Transmitters, Pressure Transmitters, Temperature Transmitters, Intelligent Flow Meters. Intelligent flow meters are of low-cost, high flexibility, easy to deploy and have intelligence embedded for delivering value-added services. These flowmeters are used to measure the flow of impure liquids and slurries and in gas applications for replacing differential pressure and turbine flowmeters.
Increasing Adoption of Remote Operating is Expected to Boost Market Growth
Industry 4.0 consists of automation infrastructure, like SCADA or lot, which enables operator to carry out processes remotely, and a real-time information is collected to ensure optimum operations. Industry 4.0 is an integration of cyber-physical systems and cloud computing. Using SCADA system in factories enables operators to predict the maintenance needs of machines, plan production and avoid emergencies & failures while manufacturing as SCADA systems allow reports to be run in real time, obtain current and historical data by predicting future events.
Requirement of Remote Monitoring Field Instruments is Expected to Boost Market Growth
There is a rise in requirement of industrial automation and utilization of assets efficiently. The field measurement of various parameters is crucial in many industrial applications & processes require monitoring in controlled environment which helps in boosting growth.
High Costs of Installation May Hamper the Market Growth
SCADA system is an integration of hardware and software with sensors, PLCs, RTUs and HMIs. These are controlled and maintained from remote locations with the data gathered and control applications provided by SCADA. Gathering data which is of high quality of is the major parameter. Initial investment and maintenance costs for SCADA systems are high and the components included in SCADA systems are highly expensive. Greater number of users in SCADA may result in additional hardware costs which is a restraint to the market.
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Remote Monitoring and Control Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the Remote Monitoring and Control market in 2021 with the highest market share with respect to revenue. Asia Pacific is expected to grow in the remote monitoring and control market during the forecast period owing to the growing population, their increased standards of living & due to the developing economies which resulted in the increasing demand for energy.
During the outbreak of COVID-19 pandemic, the aviation, construction, manufacturing and several other industries were affected due to lockdown. Manufacturing activities were restricted which led to decline in manufacturing of equipment used for remote monitoring and control systems thereby having a negative impact on the growth of Remote Monitoring and Control market.
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Report Attribute |
Details |
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Market size value in 2021 |
USD 16.78 billion |
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Revenue forecast in 2032 |
USD 50.6 billion |
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Growth Rate |
CAGR of 10.6 % from 2022 to 2032 |
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Base year for estimation |
2021 |
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Quantitative units |
Revenue in USD million and CAGR from 2022 to 2032 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Action, Type, End user and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
ABB Ltd, Cummins, Emerson Electric Co, Endress+Hauser AG, Danfoss A/S, Fuji Electric Co., Ltd, ITarian LLC, Leo Tech, Omega Engineering, Inc., OMRON Corporation, Schneider Electric SE, Rockwell Automation, Inc, Teracom Ltd, Larsen & Toubro, Yokogawa Electric Corporation and Other Prominent Players |
Remote Monitoring and Control Market size was estimated at 16.78 billion USD in 2021 and is expected to reach USD 50.6 billion in 2032.
Remote Monitoring and Control (M&C) systems were designed to organize and control complex facilities like power plants, network operation centers, factories, airports etc. with a certain degree of automation.
Monitoring and Field instrument segment accounted for the largest Remote Monitoring and Control Market share.
Key players: ABB Ltd, Cummins, Emerson Electric Co, Endress+Hauser AG, Danfoss A/S, Fuji Electric Co., Ltd, ITarian LLC, Leo Tech, Omega Engineering, Inc., OMRON Corporation, Schneider Electric SE, Rockwell Automation, Inc, Teracom Ltd, Larsen & Toubro, Yokogawa Electric Corporation and Other Prominent Players are the key players in the Remote Monitoring and Control Market.
Increasing adoption of remote operating and Requirement of remote monitoring field instruments are the factors driving the Remote Monitoring and Control Market.
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