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Remote Monitoring and Control - Global Market Trajectory & Analytics

  • ID: 4805376
  • Report
  • April 2021
  • Region: Global
  • 621 pages
  • Global Industry Analysts, Inc
COVID Induced Age of Remote Enablement is Here. Remote Monitoring & Control to Reach $33.2 Bn

The global market for Remote Monitoring & Control is projected to reach US$33.2billion by the year 2027 trailing a CAGR of 5.4%.As businesses begin to resume operations amid the pandemic, they are faced with the challenge of keeping workspaces safe. The need to minimize close contact & ensure social distancing is throwing special significance on remote monitoring & control. Technology is playing a vital role in enabling businesses to remain operational, amidst such emergencies. Technology is enabling enterprises with operations in remote locations to stay connected using network connectivity and enabling enterprises to work from remote locations easily. Data management solutions in this regard are critical for ensuring business continuity. Businesses with remote operations are also required to keep focus on good data governance and ensure conformity to regulatory obligations and contractual counterparties. With millions being infected by virus on a daily basis and uncertainties around economic growth increasing, manufacturers in countries across the world are turning towards automation technology.

Digitalization will therefore be critical for making businesses future proof. Also, the COVID-19 pandemic is speeding up innovations in manufacturing. For instance, in the electrical & electronics sector, manufacturers are struggling to find solutions for the COVID-19 problems and are increasingly relying on technologies. Many manufacturers are likely to leverage the cloud power for increased visibility of supply chain and also on automation for optimizing work. Cloud databases enable manufacturers aggregate information gathered from multiple on-premise systems. This allows reduced need for travel for employees. So far, the manufacturing industry has not been very keen on adopting cloud technologies. For long, it favored on-premise solutions for using manufacturing information which is considered highly sensitive. However, despite these security concerns, cloud benefits became too attractive to ignore for the manufacturing industry and even before the pandemic certain amount of manufacturing had started adopting the technologies. When cloud is used for data aggregation, companies are able to obtain real time data enabling remote oversight. Companies also obtain comparative intelligence for their global factories, business units, and suppliers. Cloud data adoption can also unlock some of the emerging technologies such as AI. AI can be deployed for identifying unexpected defects and quality changes in production, even without people being physically present in the factories. Remote monitoring provides the safety & flexibility of monitoring plant equipment from a safe distance without physical presence on the plant floor. Industrial Internet of Things (IIoT), edge computing & artificial intelligence will play key roles in enabling this new age of remote operations. Cloud-based interface is witnessing new importance for remote monitoring & management of IoT edge devices.

The advent of sensors has enabled better monitoring of equipment and in preventing unscheduled stoppages as well as in enabling longer life of equipment. From a technological stand-point, remote monitoring and control solutions have emerged rapidly in line with the evolution of communication technologies. Early solutions were wired solutions that were connected to the PC. With the evolution of web technology, browser based solutions gained prominence and enabled monitoring from remote locations. The emergence of high speed mobile data technologies has enabled the implementation of solutions that can be accessed on smartphones and tablets through browsers or applications. Present solutions offer control through a Human Machine Interface (HMI) that is securely accessed through a virtual private network (VPN). Whether accessed through a web browser or an application, the user is able to monitor the working of the machine or the production line. Two way communications between the machine and the user through the HMI also enables control of the machines from remote locations, thereby enabling smooth functioning of the equipment.

Select Competitors (Total 72 Featured):
  • ABB Ltd
  • Cummins
  • Danfoss A/S
  • Emerson Electric Co
  • Endress+Hauser AG
  • Fuji Electric Co., Ltd
  • General Electric Co
  • Hitachi Ltd
  • Honeywell International Inc
  • ICONICS, Inc
  • ITarian LLC
  • KROHNE Messtechnik GmbH
  • Larsen & Toubro
  • Leo Tech
  • M.B. Control & Systems Pvt. Ltd
  • Omega Engineering, Inc.
  • OMRON Corporation
  • Rockwell Automation, Inc
  • Rubicon Water
  • Schneider Electric SE
  • Teracom Ltd
  • Yokogawa Electric Corporation
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 and a Looming Global Recession
  • An Introduction to Remote Monitoring and Control
  • Advantages of Remote Monitoring
  • Global Market Outlook & Prospects
  • Solutions Emerge as the Largest Segment
  • Regional Markets
  • Competition
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Industrial Automation Trend in Multiple Industries & the Need for Remote Monitoring of Industrial Processes Support Growth
  • Exhibit 1: Spending on Industrial Automation Spurs Interest in Remote Monitoring and Control Systems and Solutions: Global Industrial Automation Market (in US$ Billion) for the Years 2019, 2022, 2024 and 2026
  • Increasing Role of SCADA in Data, Energy and Diagnostic Management
  • Industry 4.0 or IIoT Improves Remote Control and Monitoring
  • IIoT-Powered Remote Monitoring Systems Deliver Compelling Advantages
  • COVID-19 Prompts Organizations to Bet on IIoT and Edge Computing to Adjust to New Normal
  • Industrial Mobility Enhances Need for Remote Monitoring and Control
  • Exhibit 2: Smartphone Usage in the Industrial Era of Interconnectivity & Open Communication Presents Opportunities for Remote Monitoring & Control: Global Shipments of Smartphones (in Million Units) for the Years 2011 through 2019
  • Mobile SCADA Comes into the Spotlight as a Promising Technology
  • Convergence of Emerging Technologies Brings Intelligent Connectivity & Enables Remote Monitoring
  • 5G to Help SCADA Emerge as Major Building Block for Smart Factories
  • Protection of Critical Infrastructure Drives Adoption of Remote Monitoring in Energy & Utilities Industry
  • Exhibit 3: Projected Infrastructure Investments in the Energy Sector Sets the Business Climate for Remote Monitoring & Control in Utilities: Global Cumulative Infrastructure Spending (In US$ Trillion) by Sector during 2016-2030
  • SCADA Gains Traction in Renewable Energy Plants
  • SCADA Vital for Smart Grid Decision Making
  • Exhibit 4: Global Smart Grid Revenues in US$ Million for the Years 2018, 2021 and 2024
  • Oil & Gas Industry: Remote Monitoring and Control Helps Real-Time Surveillance of Hazardous & Remote Sites
  • Exhibit 5: As Digital Technologies Penetrate the Oil & Gas Industry to Relieve Cost & Efficiency Pressures, Remote Monitoring and Control Systems Poised to Benefit: Global Spending on Digital Oilfield Technologies (In US$ Billion) for the Years 2019, 2021 and 2023
  • Remote Monitoring’s Growing Role in Proactive Maintenance of Water & Wastewater Networks
  • Smart Water Networks Drives SCADA Demand
  • Cloud Implementation Gains Prominence in Remote Monitoring and Control
  • Cloud-based SCADA Continues to Make Strong Gains
  • Growing Adoption of Cloud SCADA-as-a-Service
  • SCADA Systems Find Increased Application in the Agriculture Sector
  • Remote Monitoring and Management of SCADA Systems Fuels Development of SCADA-HMI Applications
  • RTUs: The Fundamental Building Block for SCADA Systems
  • Advanced PLCs Emerge as Replacements for RTUs
  • Edge Controllers Drive Advancements in Remote Monitoring Capabilities
  • Primary Benefits of Edge Processing
  • Equipment Makers Exploit Remote Machine Monitoring to Improve Service Levels
  • Emergency Shutdown Systems: Vital Part of Remote Monitoring and Control
  • Risk of Cybersecurity Breaches in SCADA Systems
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • Electric Power T&D Sector Presents Opportunities for SCADA Market
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • India: Municipal Authorities and Power Companies Use SCADA Systems
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 72
Note: Product cover images may vary from those shown
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