Intelligent Remote Terminal Unit Market by End-user and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41635

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The intelligent remote terminal unit market size has the potential to grow by USD 1.59 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (oil and gas, power, chemical, water and wastewater, and others) and geographic landscape (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including ABB Ltd., Advantech Co. Ltd., Emerson Electric Co., Honeywell International Inc., Larsen and Toubro Ltd., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, General Electric Co., and Yokogawa Electric Corp.

Market Overview

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Market Competitive Analysis

The intelligent remote terminal unit market is fragmented. The established vendors emphasize on expanding the market for intelligent RTUs geographically and increasing production capacities. ABB Ltd., Advantech Co. Ltd., and Emerson Electric Co. are some of the major market participants. Although the growing need for grid modernization via smart grids will offer immense growth opportunities, high costs associated with installation and maintenance of RTUs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this intelligent remote terminal unit market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this intelligent remote terminal unit market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • ABB Ltd.
  • Advantech Co. Ltd.
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Larsen and Toubro Ltd.
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • General Electric Co.
  • Yokogawa Electric Corp.

Intelligent Remote Terminal Unit Market: Segmentation by Geographic Landscape

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APAC will offer several growth opportunities to market vendors during the forecast period. The growing demand for energy will significantly drive intelligent remote terminal unit market growth in this region over the forecast period.

Almost 27% of the market’s growth will originate from APAC during the forecast period. China is an essential market for intelligent remote terminal units in APAC. Market growth in this region will be faster than the growth of the market in Europe and North America.

Intelligent Remote Terminal Unit Market: Segmentation by End-user

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Market growth in the oil and gas segment will be slower than the growth of the market in the power and water and wastewater segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the intelligent RTU market size.

Key Drivers and Trends

Power consumption rates have been increasing rapidly due to the spiking demands from industries and the rise in human populations. There has been a demand-supply mismatch in the power industry, causing frequent power outages. Also, solar and wind are variable wherein managing these power generation sources is difficult. Additionally, the rise in the use of electric vehicles has resulted in additional load on transmission and distribution assets. A smart grid provides two-way communication between a power utility and its customers using information and communication technologies. A SCADA system provides utility companies with the ability to remotely monitor and control network devices to achieve reliability. Real-time data are collected in smart grids with the help of sensors. This data is then sent to the control station through RTUs in a transmittable format. Several smart grid projects are underway to improve the global power grid infrastructure. The advent of smart grid projects will increase the demand for SCADA systems and, thus, drive the need for the intelligent remote terminal unit market.

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Intelligent Remote Terminal Unit Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive intelligent remote terminal unit market growth during the next five years
  • Precise estimation of the intelligent remote terminal unit market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the intelligent remote terminal unit industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of intelligent remote terminal unit market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The intelligent remote terminal unit market growth will increase by $1587.80 million during 2019-2024.
The intelligent remote terminal unit market is expected to grow at a CAGR of 6.21% during 2019-2024.
Technavio has segmented the intelligent remote terminal unit market by end user (Oil and gas, Power, Chemical, Water and wastewater, and Others) ,application (Semiconductors, Life sciences, Material sciences, and Nanotechnology) , and geographic (Europe, North America, APAC, and South America).
ABB Ltd., Advantech Co. Ltd., Emerson Electric Co., Honeywell International Inc., Larsen and Toubro Ltd., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, General Electric Co., Yokogawa Electric Corp. are a few of the key vendors in the intelligent remote terminal unit market.
APAC will register the highest growth rate of 34.63% among the other regions. Therefore, the intelligent remote terminal unit market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the intelligent remote terminal unit market growth are:
  • Growing need for remote monitoring
  • Increasing role of data analytics
The intelligent remote terminal unit market vendors should focus on grabbing business opportunities from the oil and gas segment as it accounted for the largest market share in the base year.
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