Remote Monitoring and Control Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
The remote monitoring and control systems facilitate efficient controlling and monitoring of processes across industries such as oil & gas, power generation, chemicals and wastewater industries. The field instruments are basic building blocks of the remote processes and are used to supervise various parameters such as temperature, level, pressure, and flow rate across numerous applications.
Increasing industrial automation demand coupled with requirement of industrial mobility and asset excellence in the process industry is expected to propel the remote monitoring and control market over the forecast timeframe. The sources used for power generation are limited and thus the optimum utilization of these non-renewable resources are of utmost importance. Emphasis on industrial safety and their health is anticipated to drive the emergency shutdown systems in the power industrial applications. Safety valves, safety sensors and switches are wise used in power industries.
The SCADA system applications in the power sector helps in improving the productivity of the system by providing efficient control and supervision. Each process in power sector requires temperature measurement for various controlled operations. Pressure transmitters are commonly used inside the coal processing units to monitor their pressure inside the dryer units.
Power monitoring and connectivity unite in fight against downtime as reducing downtime involves the remote control and monitoring. Most of the electrical components such as trip units, and meters can be connected by increasing their ability to provide alerts via email or on smartphones for efficiently handling the operations. The operators can access the historical and real-time information to find the alarm causes and eliminating it. Systems coupled with automatic control capabilities can immediately take responsive steps to restore the power and preserve the loads while analysing the problems.
The most versatile monitoring and control systems offer fully integrated processors for complex controlling tasks such as generator paralleling and starting, demand control and load shedding. These systems also include safe failure modes, hot backup and supports common programming language as these systems are commonly used for mission-critical operations.
Packaging segment is expected to witness highest growth prospects amongst other applications with the packaging equipment coupled with the Industrial Internet of Things (IIoT) over the forecast timeline. The manufacturers are taking advantage of smartphone connectivity, social media and internet linkages in packaging industry. Equipment which offers automation and control through smart connectivity improves the flexibility by providing manufacturers with the data and analytics associated with the databases for making better decisions. Manufacturers across all industries are taking advantage of the benefits to remain competitive in the market enhance the product quality thereby improving the customer satisfaction.
Downfall in petroleum prices is one of the key restraining factor for remote monitoring and control market as it is adversely affecting the bottom lines of the major participants involved in the value chain of the oil and gas industry. Therefore, these factors are expected to halt the investments in oil and gas industry which shall further impact the remote monitoring and control systems market globally.
The Asia Pacific remote monitoring and control market is expected to grow with the highest CAGR from 2017 to 2025. Chemicals, power, automation, water and waste water industries is anticipated to drive the industrial growth in this region. Increasing primary energy consumption and investments in waste water management would propel the market demand in emerging economies such as China and India.
The remote monitoring and control market can be segmented by type into solutions and field instruments. Pressure transmitter, humidity transmitter, temperature transmitter, flow meter and level transmitter constitute the field instruments. By application, the industry can be classified into power generation, oil & gas, chemicals, pulp & paper, water & wastewater, metal & mining, and food & beverage industries.
The prominent industry vendors of the remote monitoring and control systems market are Honeywell International, Emerson Electric, Schneider Electric, ABB Ltd., Rockwell Automation, General Electric Co., Yokogawa Electric Corporation, Endress+Hauser AG, and Fuji Electric Co. Ltd.
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