According to a research report titled “Remote Monitoring and Control Market”, the remote monitoring and control market is expected to be valued at USD 27.11 Billion by 2023, at a CAGR of 4.47% between 2017 and 2023. The key driving factors for the growth of the remote monitoring and control market are increasing demand for industrial automation and optimum utilization of assets and rising demand for industrial mobility for remotely managing the industrial process.
- Field instruments to hold the largest market share in the remote monitoring and control market during the forecast period
- Power industry is expected to drive the growth for SCADA and emergency shutdown system between 2017 and 2023 in remote monitoring and control market
- Market in APAC is expected to drive the growth of remote monitoring and controls between 2017 and 2023
The major players involved in this market include Emerson Electric Co. (US), Honeywell International Inc. (US), Schneider Electric SE (France), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), General Electric Co. (US), and Fuji Electric Co., Ltd. (Japan).