Remote Monitoring and Control Market Size is projected to reach USD 23 billion by the end of 2023, with 5% CAGR

Remote Monitoring and Control Market, By Component (Solution, Instruments), By End-users (Mining & Metals, Chemical, Oil & Gas) - Forecast 2023

Market Overview:

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. Also, remote monitoring assists network administrators to work efficiently with network infrastructure control and management. Monitoring and control can be explained as control of any system or network through automated procedures and which is generally controlled with a unit.

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. 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.

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Major Key Players

ABB Ltd. (Switzerland),
Emerson Electric Co. (USA),
Endress+Hauser AG (Switzerland),
Fuji Electric Co., Ltd. (Japan),
General Electric Co. (USA),
Honeywell International Inc. (USA),
Rockwell Automation, Inc. (USA),
Schneider Electric SE (France), and Yokogawa Electric Corporation (Japan).

Latest Industry News

• Winnov, a key provider of video recording services for monitoring purposes has announced Command Center 2.4. This is the latest version of its remote monitoring and control software for Cbox multi-source recorders. This version features enhancements to the recordings management tool, a new mode for local capture and streaming, and an updated third-party scheduler. The updates extend options for video production and streamlines scheduling activities and management of recordings. 2 AUG 2018
• In the USA, The Trump Administration has decided to expand the use of remote monitors to track blood pressure and other vital signs for Medicare recipients living at home. 13 JUL 2018

According to Market Research Future Analysis, Remote Monitoring and Control Market has been valued at USD 23 billion by 2023 growing with 5% of CAGR during forecast period 2017 to 2023.

Regional Analysis

The regional segmentation of the global remote monitoring and control market segments the market into regional markets namely North America, Europe, Asia Pacific and rest of the world (RoW). North America holds the largest market share due to increasing adoption of remote monitoring and control by the pharmaceuticals industry, increasing automation, and many key players in this market are based in this continent. The United States of America (USA) is where the majority of key players are based in. In Europe, technological advancement is the key reason for the existence of remote monitoring and control market with some key players being based in France and Switzerland. During the forecast period, Asia Pacific region is expected to witness the greatest boost in the market due to the determination to achieve excellence in various industries and the rising demand for utilization of resources. The technologically advanced countries like Japan and Singapore have the maximum potential to be the ideal market for remote monitoring and control.

Segmentation:

The global remote monitoring and control market has been segmented into component, end users, and lastly region. The components have been sub-segmented into solutions and instruments. Solutions cover functionalities like automation while instruments cover devices like sensors. On the basis of end-users, the market has been segmented into chemicals, food & beverages, metals, mining, oil & gas, pharmaceuticals, power, water & wastewater and others. Remote monitoring is used for vending machines offering beverages. At some places, automated dishwashers are available. Automated systems also monitor power supply to different areas of a city. Via Internet of Things (IoT), the activities regarding the wastewater treatment by remote monitoring and control systems can be monitored.

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Intended Audience

• Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Software Developers
• Vendors
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors

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