The industrial remote terminal unit (RTU) market is expected to grow by USD 1.94 billion, progressing at a CAGR of almost 6% during the forecast period. The rising investments in water and wastewater treatment and oil and gas industries will be crucial in generating revenue in the market. In addition, the rising dependence on natural gas and fossil fuels to ensure energy security is expected to drive demand for industrial RTU across end-user industries over the forecast period.
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Technavio has announced its latest market research report titled Global Industrial Remote Terminal Unit (RTU) Market 2020-2024 (Graphic: Business Wire)
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The increase in sales and revenue with the support of e-commerce is one of the major factors propelling market growth. Many small and medium enterprises (SMEs), as well as big organizations, are buying industrial RTU through online platforms. This has created an opportunity for market vendors to enter the market and expand their operations across various regions. These factors are expected to positively influence the growth during the forecast period. However, factors such as excessive cost of installation and maintenance services might challenge growth.
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Industrial Remote Terminal Unit Market: End-user Landscape
Based on the end-users, the market saw maximum demand for industrial RTU from the oil and gas industry. This is due to the high use of SCADA systems in the industry. In addition, rising investments in upstream E&P activities are expected to further fuel the growth of the segment. The market growth in the segment will be significant during the forecast period.
Industrial Remote Terminal Unit Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 35% of the market’s overall growth is expected to originate from APAC. The market in APAC is driven by factors such as rapid industrialization and the increasing demand for industrial RTU from chemical and petrochemical and water and wastewater industries. China and Japan are the key markets for the industrial remote terminal unit in APAC.
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Companies Covered:
- ABB Ltd.
- Advantech Co. Ltd.
- Arteche Group
- Emerson Electric Co.
- Honeywell International Inc.
- Rockwell Automation Inc.
- Schneider Electric SE
- Schweitzer Engineering Laboratories Inc.
- Siemens AG
- Yokogawa Electric Corp.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Oil and gas industry – Market size and forecast 2019-2024
- Power generation industry – Market size and forecast 2019-2024
- Chemical and petrochemical industry – Market size and forecast 2019-2024
- Water and wastewater industry – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Product
- Wireless industrial RTU
- Wired industrial RTU
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive Scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Advantech Co. Ltd.
- Arteche Group
- Emerson Electric Co.
- Honeywell International Inc.
- Rockwell Automation Inc.
- Schneider Electric SE
- Schweitzer Engineering Laboratories Inc.
- Siemens AG
- Yokogawa Electric Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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