According to the report published by Allied Market Research, the global remote monitoring and control market was estimated at $25.85 billion in 2021 and is expected to hit $43.60 billion by 2031, registering a CAGR of 5.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $25.85 Billion |
| Market Size in 2031 | $43.60 Billion |
| CAGR | 5.3% |
| No. of Pages in Report | 240 |
| Segments Covered | Action, Type, End-user, and Region. |
| Drivers | Growing industrial automation |
| Rising demand for industrial mobility | |
| Opportunities | Technological advancements and launch of new monitoring & control systems |
| Restraints | Downfall in petroleum prices |
Covid-19 scenario-
- Several restrictions on the production and manufacturing facilities impacted the global remote monitoring and control market negatively, especially during the initial period.
- However, the market started recovering at a slow & steady pace as soon as the global situation got back on track.
The global remote monitoring and control market is analyzed across action, type, end-user, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on action, the control segment accounted for nearly three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 5.5% throughout the forecast period.
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Based on type, the solutions segment held more than three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The field instruments segment, however, would cite the fastest CAGR of 5.5% throughout the forecast period.
Based on end user, the others segment contributed to more than one-fourth of the global remote monitoring and control market revenue in 2021, and is expected to dominate by 2031. The water and wastewater segment, on the other hand, would showcase the fastest CAGR of 6.2% during the forecast period.
Based on region, the market across Asia-Pacific generated more than one-third of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The LAMEA region, however, would showcase the fastest CAGR of 8.0% during the forecast period. The other regions studied in the report include North America and Europe.
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Leading Players:
The key market players analyzed in the global remote monitoring and control market report include Cummins, Danfoss A/S, Emerson Electric Co., Fuji Electric Co., Ltd., General Electric Co., Hitachi Ltd, Honeywell International Inc., Yokogawa Electric Corporation, ABB Ltd., ICONICS, Inc, ITarian LLC, KRONE Messtechnik GmbH, Schneider Electric SE, Endress+Hauser AG, Larsen & Toubrom, Leo Tech, and Rockwell Automation, Inc.
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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