The remote monitoring and control market size has grown strongly in recent years. It will grow from $27.68 billion in 2023 to $29.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth experienced in the historic period can be attributed to several factors, including industry automation and efficiency, a heightened demand for real-time monitoring, cost savings, and resource optimization, the increasing complexity in industrial processes, as well as a notable focus on safety and compliance.
The remote monitoring and control market size is expected to see strong growth in the next few years. It will grow to $37.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The projected growth in the forecast period can be attributed to digital transformation initiatives, the integration of Internet of Things (IoT) and data analytics, a heightened focus on sustainability and energy efficiency, the expansion of the industrial internet, and an increased emphasis on resilience and business continuity. Major trends expected in the forecast period include integration with 5G technology, a heightened focus on remote asset management, the adoption of augmented reality (AR) for remote assistance, the implementation of remote monitoring in agriculture, and a growing emphasis on regulatory compliance in remote monitoring solutions.
The increasing demand for automation is anticipated to propel the growth of the remote monitoring and control market in the foreseeable future. Automation involves the use of technology to minimize human intervention in task completion. Remote monitoring and control play a vital role in automated systems by offering a secure method to supervise potentially hazardous machinery and other systems. The rising requirement for automation is expected to drive the demand for remote monitoring and control solutions. For example, as of December 2022, 76% of businesses are reported to utilize automation for standardizing or automating daily workflows, while 58% use automation for data/reporting in planning, and 36% leverage it for regulatory or compliance purposes, according to Paperform, an Australia-based online form builder. Additionally, a report from the World Economic Forum in October 2020 revealed that over 80% of global corporate leaders were expanding the use of remote work and accelerating work process automation in 2020. Worldwide, 50% of business managers intended to automate routine tasks in their organizations. Hence, the growing need for automation is a key driver for the remote monitoring and control market's growth.
The increasing adoption of the Internet of Things (IoT) is expected to contribute to the growth of the remote monitoring and control market. IoT adoption refers to the widespread integration and utilization of IoT technologies across various industries and sectors. The extensive adoption of IoT technologies, facilitating seamless connectivity and communication between devices, is a significant factor propelling the expansion of remote monitoring and control solutions. As of March 2023, the Internet of Things News, a UK-based news platform, reported that the IoT installed base reached 42.62 billion in 2022 and is anticipated to further accelerate, with growth expected to reach 75.44 billion by 2025. Consequently, the growing adoption of IoT is a driving force behind the growth of the remote monitoring and control market.
Technological advancement stands out as a prominent trend gaining traction in the remote monitoring and control market. Major companies within this market are strategically focusing on the development of cutting-edge technologies to fortify their market positions. For instance, in March 2021, Meech International, a UK-based manufacturer of static control equipment and web cleaning systems, introduced the SmartControl Touch as its latest remote monitoring solution. This innovative tool allows users to efficiently manage and monitor multiple connected Hyperion ionizing bars and sensors remotely, using smartphones, tablets, or desktop computers. SmartControl Touch, equipped with a 10"" integrated touch screen, supports Meech voltage and distance sensors, enables data logging, and aligns with the advancements in Industry 4.0 technology, contributing to enhanced efficiency and quality output for businesses.
Major companies in the remote monitoring and control market is the development of groundbreaking solutions such as bioreactor control software. Bioreactor control software, specialized computer programs or applications, is designed for monitoring, controlling, and optimizing bioreactor operations. For example, in November 2023, The Cultivated B. GmbH, based in Germany, introduced a next-generation bioreactor remote monitoring and control software. This software offers a real-time, application-specific, personalized user interface for AUXO V bioreactors, accompanied by advanced remote accessibility features. Representing a significant advancement in the cultivated meat industry, the software ensures unparalleled convenience, flexibility, and efficiency, catering to both expert and non-expert users involved in managing bioprocesses.
In September 2022, MOBILTEX, a US-based provider of innovative field and cloud-connected technologies, acquired GCR Tech Limited for an undisclosed amount. This acquisition is expected to synergize Mobiltex's IIoT technology with GCR Tech's expertise in pressure management and product quality. GCR Tech's capabilities will empower Mobiltex to offer innovative pressure measurement and remote monitoring solutions to their primary clients. GCR Tech, headquartered in the UK, specializes in manufacturing pressure measurement and remote monitoring solutions.
Major companies operating in the remote monitoring and control market report are Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric, Honeywell International Inc., ABB Ltd., Schlumberger Limited, Johnson Controls International PLC, Larsen & Toubro Ltd., Eaton Corporation PLC, Texas Instruments Incorporated, Nidec Corporation, Emerson Electric Co., Bosch Rexroth AG, Rockwell Automation Inc., OMRON Corporation, Fanuc Corporation, Teledyne Technologies Incorporated, Phoenix Contact GmbH & Co. KG, Sensata Technologies Inc., Endress+Hauser Group Services AG, Yokogawa Electric Corporation, Advantech Co. Ltd., National Instruments Corporation, ITarian LLC, Leo Tech LLC, Fuji Electric Co. Ltd., ICONICS Inc., KROHNE Messtechnik GmbH, SICK AG, ProSoft Technology Inc., Novatech Measurements Limited, Toshiba Corporation.
Asia-Pacific was the largest region in the global remote monitoring and control market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global remote monitoring and control market during the forecast period. The regions covered in the remote monitoring and control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the remote monitoring and control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The major classifications within remote monitoring and control include solutions and field instruments. Solutions represent tangible business outcomes providing quantifiable value to clients. These encompass monitoring and control actions applicable in industries such as oil and gas, chemical, water and wastewater treatment, metals and mining, food and beverages, power, automotive, pharmaceuticals, among others.
The remote monitoring and control market research report is one of a series of new reports that provides remote monitoring and control market statistics, including remote monitoring and control industry global market size, regional shares, competitors with a remote monitoring and control market share, detailed remote monitoring and control market segments, market trends and opportunities, and any further data you may need to thrive in the remote monitoring and control industry. This remote monitoring and control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The remote monitoring and control market consists of sales of sensors, detectors, actuators, modules, and other related products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The remote monitoring and control market size is expected to see strong growth in the next few years. It will grow to $37.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The projected growth in the forecast period can be attributed to digital transformation initiatives, the integration of Internet of Things (IoT) and data analytics, a heightened focus on sustainability and energy efficiency, the expansion of the industrial internet, and an increased emphasis on resilience and business continuity. Major trends expected in the forecast period include integration with 5G technology, a heightened focus on remote asset management, the adoption of augmented reality (AR) for remote assistance, the implementation of remote monitoring in agriculture, and a growing emphasis on regulatory compliance in remote monitoring solutions.
The increasing demand for automation is anticipated to propel the growth of the remote monitoring and control market in the foreseeable future. Automation involves the use of technology to minimize human intervention in task completion. Remote monitoring and control play a vital role in automated systems by offering a secure method to supervise potentially hazardous machinery and other systems. The rising requirement for automation is expected to drive the demand for remote monitoring and control solutions. For example, as of December 2022, 76% of businesses are reported to utilize automation for standardizing or automating daily workflows, while 58% use automation for data/reporting in planning, and 36% leverage it for regulatory or compliance purposes, according to Paperform, an Australia-based online form builder. Additionally, a report from the World Economic Forum in October 2020 revealed that over 80% of global corporate leaders were expanding the use of remote work and accelerating work process automation in 2020. Worldwide, 50% of business managers intended to automate routine tasks in their organizations. Hence, the growing need for automation is a key driver for the remote monitoring and control market's growth.
The increasing adoption of the Internet of Things (IoT) is expected to contribute to the growth of the remote monitoring and control market. IoT adoption refers to the widespread integration and utilization of IoT technologies across various industries and sectors. The extensive adoption of IoT technologies, facilitating seamless connectivity and communication between devices, is a significant factor propelling the expansion of remote monitoring and control solutions. As of March 2023, the Internet of Things News, a UK-based news platform, reported that the IoT installed base reached 42.62 billion in 2022 and is anticipated to further accelerate, with growth expected to reach 75.44 billion by 2025. Consequently, the growing adoption of IoT is a driving force behind the growth of the remote monitoring and control market.
Technological advancement stands out as a prominent trend gaining traction in the remote monitoring and control market. Major companies within this market are strategically focusing on the development of cutting-edge technologies to fortify their market positions. For instance, in March 2021, Meech International, a UK-based manufacturer of static control equipment and web cleaning systems, introduced the SmartControl Touch as its latest remote monitoring solution. This innovative tool allows users to efficiently manage and monitor multiple connected Hyperion ionizing bars and sensors remotely, using smartphones, tablets, or desktop computers. SmartControl Touch, equipped with a 10"" integrated touch screen, supports Meech voltage and distance sensors, enables data logging, and aligns with the advancements in Industry 4.0 technology, contributing to enhanced efficiency and quality output for businesses.
Major companies in the remote monitoring and control market is the development of groundbreaking solutions such as bioreactor control software. Bioreactor control software, specialized computer programs or applications, is designed for monitoring, controlling, and optimizing bioreactor operations. For example, in November 2023, The Cultivated B. GmbH, based in Germany, introduced a next-generation bioreactor remote monitoring and control software. This software offers a real-time, application-specific, personalized user interface for AUXO V bioreactors, accompanied by advanced remote accessibility features. Representing a significant advancement in the cultivated meat industry, the software ensures unparalleled convenience, flexibility, and efficiency, catering to both expert and non-expert users involved in managing bioprocesses.
In September 2022, MOBILTEX, a US-based provider of innovative field and cloud-connected technologies, acquired GCR Tech Limited for an undisclosed amount. This acquisition is expected to synergize Mobiltex's IIoT technology with GCR Tech's expertise in pressure management and product quality. GCR Tech's capabilities will empower Mobiltex to offer innovative pressure measurement and remote monitoring solutions to their primary clients. GCR Tech, headquartered in the UK, specializes in manufacturing pressure measurement and remote monitoring solutions.
Major companies operating in the remote monitoring and control market report are Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric, Honeywell International Inc., ABB Ltd., Schlumberger Limited, Johnson Controls International PLC, Larsen & Toubro Ltd., Eaton Corporation PLC, Texas Instruments Incorporated, Nidec Corporation, Emerson Electric Co., Bosch Rexroth AG, Rockwell Automation Inc., OMRON Corporation, Fanuc Corporation, Teledyne Technologies Incorporated, Phoenix Contact GmbH & Co. KG, Sensata Technologies Inc., Endress+Hauser Group Services AG, Yokogawa Electric Corporation, Advantech Co. Ltd., National Instruments Corporation, ITarian LLC, Leo Tech LLC, Fuji Electric Co. Ltd., ICONICS Inc., KROHNE Messtechnik GmbH, SICK AG, ProSoft Technology Inc., Novatech Measurements Limited, Toshiba Corporation.
Asia-Pacific was the largest region in the global remote monitoring and control market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global remote monitoring and control market during the forecast period. The regions covered in the remote monitoring and control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the remote monitoring and control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The major classifications within remote monitoring and control include solutions and field instruments. Solutions represent tangible business outcomes providing quantifiable value to clients. These encompass monitoring and control actions applicable in industries such as oil and gas, chemical, water and wastewater treatment, metals and mining, food and beverages, power, automotive, pharmaceuticals, among others.
The remote monitoring and control market research report is one of a series of new reports that provides remote monitoring and control market statistics, including remote monitoring and control industry global market size, regional shares, competitors with a remote monitoring and control market share, detailed remote monitoring and control market segments, market trends and opportunities, and any further data you may need to thrive in the remote monitoring and control industry. This remote monitoring and control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The remote monitoring and control market consists of sales of sensors, detectors, actuators, modules, and other related products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Remote Monitoring and Control Market Characteristics3. Remote Monitoring and Control Market Trends and Strategies32. Global Remote Monitoring and Control Market Competitive Benchmarking33. Global Remote Monitoring and Control Market Competitive Dashboard34. Key Mergers and Acquisitions in the Remote Monitoring and Control Market
4. Remote Monitoring and Control Market - Macro Economic Scenario
5. Global Remote Monitoring and Control Market Size and Growth
6. Remote Monitoring and Control Market Segmentation
7. Remote Monitoring and Control Market Regional and Country Analysis
8. Asia-Pacific Remote Monitoring and Control Market
9. China Remote Monitoring and Control Market
10. India Remote Monitoring and Control Market
11. Japan Remote Monitoring and Control Market
12. Australia Remote Monitoring and Control Market
13. Indonesia Remote Monitoring and Control Market
14. South Korea Remote Monitoring and Control Market
15. Western Europe Remote Monitoring and Control Market
16. UK Remote Monitoring and Control Market
17. Germany Remote Monitoring and Control Market
18. France Remote Monitoring and Control Market
19. Italy Remote Monitoring and Control Market
20. Spain Remote Monitoring and Control Market
21. Eastern Europe Remote Monitoring and Control Market
22. Russia Remote Monitoring and Control Market
23. North America Remote Monitoring and Control Market
24. USA Remote Monitoring and Control Market
25. Canada Remote Monitoring and Control Market
26. South America Remote Monitoring and Control Market
27. Brazil Remote Monitoring and Control Market
28. Middle East Remote Monitoring and Control Market
29. Africa Remote Monitoring and Control Market
30. Remote Monitoring and Control Market Competitive Landscape and Company Profiles
31. Remote Monitoring and Control Market Other Major and Innovative Companies
35. Remote Monitoring and Control Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Remote Monitoring and Control Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on remote monitoring and control market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for remote monitoring and control? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Solutions; Field Instruments
2) By Action: Monitoring; Control
3) By Industry: Oil and Gas; Chemical; Water and Wastewater Treatment; Metals and Mining; Food and Beverages; Power; Automotive; Pharmaceutical; Other Industries
Key Companies Mentioned: Siemens AG; General Electric Company; Cisco Systems Inc.; Mitsubishi Electric Corporation; Schneider Electric
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Siemens AG
- General Electric Company
- Cisco Systems Inc.
- Mitsubishi Electric Corporation
- Schneider Electric
- Honeywell International Inc.
- ABB Ltd
- Schlumberger Limited
- Johnson Controls International plc
- Larsen & Toubro Ltd.
- Eaton Corporation plc
- Texas Instruments Incorporated
- Nidec Corporation
- Emerson Electric Co.
- Bosch Rexroth AG
- Rockwell Automation Inc.
- OMRON Corporation
- Fanuc Corporation
- Teledyne Technologies Incorporated
- Phoenix Contact GmbH & Co. KG
- Sensata Technologies Inc.
- Endress+Hauser Group Services AG
- Yokogawa Electric Corporation
- Advantech Co. Ltd.
- National Instruments Corporation
- ITarian LLC
- Leo Tech LLC
- Fuji Electric Co. Ltd.
- ICONICS Inc.
- KROHNE Messtechnik GmbH
- SICK AG
- ProSoft Technology Inc.
- Novatech Measurements Limited
- Toshiba Corporation
Methodology
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