The global intelligent remote terminal unit market size reached US$ 3.3 Billion in 2023. Looking forward, the market is projected to reach US$ 5.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.18% during 2023-2032. Significant rise in electricity consumption, rapid industrialization, and the growing demand for freshwater supplies represent some of the key factors driving the market.
An intelligent remote terminal unit (iRTU) is a microprocessor-based electronic equipment used for remote monitoring of various devices and systems for automation via the internet. It monitors both the digital and analog field parameters and transmits data to a supervisory control and data acquisition (SCADA) master station. It runs setup software to connect data input streams to output streams, troubleshoot installation problems, and define communication protocols.
It is widely employed in several processes, including petrochemical (oil) and refineries and nuclear power, chemical, sewage treatment and water treatment plants. Besides this, iRTU is used in agriculture, quality control, food processing, automobile manufacturing, and pharmaceutical manufacturing processes. At present, iRTU providers are focusing on developing more efficient solutions to attract more customers and maximize revenue.
In addition, the increasing adoption of remote monitoring (RPM) systems by various industries, especially asset-intensive industries, is creating a positive market outlook. These industries are facing the difficulty of achieving high operating efficiency due to power fluctuations that damage the functioning of important equipment, resulting in significant revenue loss.
Furthermore, the growing demand for freshwater supplies in urban areas and the rising water pollution level are other factors catalyzing the demand for iRTUs worldwide. Water utilities are continuously investing in innovative technologies and utilizing SCADA systems to enhance water infrastructure monitoring capabilities and monitor important assets of water treatment plants.
Moreover, the shifting consumer preferences towards electric vehicles (EVs) to minimize harmful emissions and support environmental health, along with the integration of renewable energy, is creating a massive load on existing power transmission and distribution assets. Consequently, there is an increase in the need for converting conventional grids to smart grids. Furthermore, the rising number of smart grid projects across numerous countries is expected to drive the demand for SCADA systems and, in turn, propel the market growth.
2. What is the expected growth rate of the global intelligent remote terminal unit market during 2024-2032?
3. What are the key factors driving the global intelligent remote terminal unit market?
4. What has been the impact of COVID-19 on the global intelligent remote terminal unit market?
5. What is the breakup of the global intelligent remote terminal unit market based on the product type?
6. What is the breakup of the global intelligent remote terminal unit market based on the end user?
7. What are the key regions in the global intelligent remote terminal unit market?
8. Who are the key players/companies in the global intelligent remote terminal unit market?
An intelligent remote terminal unit (iRTU) is a microprocessor-based electronic equipment used for remote monitoring of various devices and systems for automation via the internet. It monitors both the digital and analog field parameters and transmits data to a supervisory control and data acquisition (SCADA) master station. It runs setup software to connect data input streams to output streams, troubleshoot installation problems, and define communication protocols.
It is widely employed in several processes, including petrochemical (oil) and refineries and nuclear power, chemical, sewage treatment and water treatment plants. Besides this, iRTU is used in agriculture, quality control, food processing, automobile manufacturing, and pharmaceutical manufacturing processes. At present, iRTU providers are focusing on developing more efficient solutions to attract more customers and maximize revenue.
Intelligent Remote Terminal Unit Market Trends
Presently, a considerable increase in electricity consumption on account of the growing population and industrialization represents one of the key factors positively influencing the market. The development of power infrastructure to prevent frequent power outage problems is also driving the usage of iRTUs to improve the efficiency of the transmission and distribution network.In addition, the increasing adoption of remote monitoring (RPM) systems by various industries, especially asset-intensive industries, is creating a positive market outlook. These industries are facing the difficulty of achieving high operating efficiency due to power fluctuations that damage the functioning of important equipment, resulting in significant revenue loss.
Furthermore, the growing demand for freshwater supplies in urban areas and the rising water pollution level are other factors catalyzing the demand for iRTUs worldwide. Water utilities are continuously investing in innovative technologies and utilizing SCADA systems to enhance water infrastructure monitoring capabilities and monitor important assets of water treatment plants.
Moreover, the shifting consumer preferences towards electric vehicles (EVs) to minimize harmful emissions and support environmental health, along with the integration of renewable energy, is creating a massive load on existing power transmission and distribution assets. Consequently, there is an increase in the need for converting conventional grids to smart grids. Furthermore, the rising number of smart grid projects across numerous countries is expected to drive the demand for SCADA systems and, in turn, propel the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global intelligent remote terminal unit market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on product type and end user.Product Type Insights:
- Wired Intelligent RTU
- Wireless Intelligent RTU
End User Insights:
- Oil and gas
- Power
- Chemical
- Water and wastewater
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global intelligent remote terminal unit market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Advantech Co. Ltd., Emerson Electric Co., General Electric Co., Hitachi Energy Ltd. (Hitachi Ltd.), Honeywell International Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global intelligent remote terminal unit market?2. What is the expected growth rate of the global intelligent remote terminal unit market during 2024-2032?
3. What are the key factors driving the global intelligent remote terminal unit market?
4. What has been the impact of COVID-19 on the global intelligent remote terminal unit market?
5. What is the breakup of the global intelligent remote terminal unit market based on the product type?
6. What is the breakup of the global intelligent remote terminal unit market based on the end user?
7. What are the key regions in the global intelligent remote terminal unit market?
8. Who are the key players/companies in the global intelligent remote terminal unit market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Intelligent Remote Terminal Unit Market
6 Market Breakup by Product Type
7 Market Breakup by End User
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Advantech Co. Ltd.
- Emerson Electric Co. General Electric Co. Hitachi Energy Ltd. (Hitachi Ltd.)
- Honeywell International Inc.
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.3 Billion |
| Forecasted Market Value ( USD | $ 5.2 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
