Overview of the global remote power generator monitoring market
Technavio’s market research analysts have identified the growing R&D and innovation as one of the primary factors that will trigger the growth of the remote power generator motoring market in the coming years. The capability for the increasing adoption rate of remote power generator monitoring systems depends on the growing number of smart systems. To ensure efficient machine operations, product development, modernization, and technological innovations are necessary for remote power generator monitoring system. The major players in the market are focusing on developing innovative features and new product types to expand their product portfolio. IoT-integrated remote power generator monitoring systems and mobile application-based remote power generator monitoring systems are the latest inclusion in the advanced remote generator monitoring systems. The advanced remote generator monitoring systems are significantly reducing the risk of failure and unplanned downtime. These challenges can be resolved as they can detect deterioration early. Technavio’s market research analysts predict that this global market will post a revenue of more than USD 630 million by 2022.
The growing need for mobile application-based generator monitoring is one of the key trends in the remote power generator motoring market. The traditional technique of monitoring a power generator needed regular monitoring of oil, temperature, voltage, and current. This process was labor intensive and the results produced were often imprecise. Generac being one of the major players in the market has increased investments in R&D to develop applications that can monitor electric generators wirelessly using the operating systems of smartphones. This type of systems send data through cellular networks and are easier to configure and more reliable than ethernet and telephone connections.
The remote power generator monitoring market appears to be fragmented due to the presence of several vendors. This industry research report provides information about the competitive environment among companies in the remote generator monitoring market and also offers an analysis of the companies and their products. Moreover, the report also provides information about key areas the players currently focus on and strategies they follow to sustain the competition.
The report includes an analysis of a number of companies in this marketspace including -
Segmentation by end-user and analysis of the remote power generator monitoring market
Oil and gas
Metals and mining
The utility segment accounted for the major share of the remote generator monitoring market during 2017. During the forecast period, the market will continue to witness steady growth in this segment due to the increasing consumption of electricity in the developing countries such as China and India. Moreover, the growing per capita income of these countries that has increased the usage of consumer electronic devices and appliances, driving the need for which electricity will also drive the growth of the market in this segment.
Geographical segmentation and analysis of the remote power generator monitoring market
APAC accounted for the maximum shares of the remote generator monitoring market during 2017. Countries such as China, Japan, India, and South Korea are the major revenue contributors in this region. Our analysts have predicted that APAC will witness steady growth in the next five years owing to the rapid industrialization and urbanization.
Key questions answered in the report include
What will the market size and the growth rate be in 2022?
What are the key factors driving the global remote power generator monitoring market?
What are the key market trends impacting the growth of the global remote power generator monitoring market?
What are the challenges to market growth?
Who are the key vendors in the global remote power generator monitoring market?
What are the market opportunities and threats faced by the vendors in the global remote power generator monitoring market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global remote power generator monitoring market?
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