The intelligent remote terminal unit global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Intelligent Remote Terminal Unit Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
intelligent remote terminal unit market size has grown strongly in
recent years. It will grow from $2.48 billion in 2023 to $2.64 billion
in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in
the historic period can be attributed to increasing adoption of
automation solutions, growth in infrastructure projects, stringent
regulations and standards, and rising concerns about energy consumption.
The intelligent remote terminal unit market size is expected to see strong growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to growing investments in smart city projects, digital transformation and industry 4.0 initiatives, increasing focus on cybersecurity and resilience, and the integration of renewable energy sources. Major trends in the forecast period include integration with IoT and cloud platforms, advanced analytics and predictive maintenance, cybersecurity enhancements, edge computing capabilities, and remote monitoring and control.
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Scope Of Intelligent Remote Terminal Unit Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Intelligent Remote Terminal Unit Market Overview
Market Drivers -
The
increase in electricity consumption is expected to propel the
intelligent remote terminal unit market going forward. Electricity
consumption refers to the amount of electrical energy used by
individuals, households, businesses, industries, and other entities
within a specified period. Electricity consumption is increasing due to
several factors, including weather, seasons, sunshine, wind, humidity,
the number of people in a household, and technological advancements
driving higher energy demands. Intelligent RTUs enhance electricity
systems by efficiently monitoring and controlling remote equipment,
ensuring reliability and swift response to faults. For instance, in
December 2023, according to the Energy Information Administration, a
US-based government agency, total U.S. electricity consumption in 2022
increased by 3.2% compared to 2021, with residential electricity sales
up 2.6% and commercial sales up 4.7%. Therefore, the increase in
electricity consumption is driving the growth of the intelligent remote
terminal unit market.
Market Trends -
Major companies
operating in the intelligent remote terminal unit market are focused on
developing innovative solutions, such as smart RTU controllers, to
optimize energy efficiency and improve interoperability with other
industrial systems. Smart RTU controllers are advanced devices used in
industrial automation and control systems. These controllers integrate
various functionalities to enable efficient monitoring, control, and
management of remote equipment and processes. For instance, in August
2023, Schneider Electric, a France-based automation and energy
management company, launched the 471i and 474i models, two new SCADAPack
Smart RTU controllers. These controllers integrate an edge computing
platform with a Linux open-source operating system, providing
flexibility and efficiency for remote operations. They are designed to
address common challenges in remote operations, comply with
cybersecurity standards, and offer secure communication protocols. The
SCADAPack controllers are built to withstand harsh environments and can
operate in extreme temperatures.
The intelligent remote terminal unit market covered in this report is segmented –
1)
By Type: Interactive Kiosks, Interactive Video Wall, Interactive
Flat-Panel Display, Interactive Whiteboard, Interactive Monitor
2) By Application: Power Plant, Company Power Sector
3) By End-User: Oil And Gas, Chemical, Water And Wastewater Treatment Plants, Power Generation, Other End-Users
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Regional Insights -
North
America was the largest region in the intelligent remote terminal unit
market in 2023. The regions covered in the intelligent remote terminal
unit market report are Asia-Pacific, Western Europe, Eastern Europe,
North America, South America, Middle East, Africa.
Key Companies -
Major
companies operating in the intelligent remote terminal unit market are
Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi
Electric Corporation, Schneider Electric, Honeywell International Inc.,
ABB Group, Toshiba Corporation, Eaton Corporation plc, Larsen &
Toubro Electrical & Automation, Emerson Electric Co., Rockwell
Automation Inc., Omron Corporation, TechnipFMC plc, Teledyne
Technologies Incorporated, Yokogawa Electric Corporation, Phoenix
Contact GmbH & Co. KG, Belden Inc., Advantech Co. Ltd., WAGO
Kontakttechnik GmbH & Co. KG, National Instruments Corporation,
Schweitzer Engineering Laboratories Inc., Krohne Group, Moxa Inc.,
Campbell Scientific Inc.
Table of Contents
1. Executive Summary
2. Intelligent Remote Terminal Unit Market Report Structure
3. Intelligent Remote Terminal Unit Market Trends And Strategies
4. Intelligent Remote Terminal Unit Market – Macro Economic Scenario
5. Intelligent Remote Terminal Unit Market Size And Growth
…..
27. Intelligent Remote Terminal Unit Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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