Intelligent Remote Terminal Unit Market Size shall reach a value of $1.90 Billion in 2027, growing with a CAGR of 6.2% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
An intelligent remote terminal unit is an automated appliance that bonds items to a distributed supervisory control and data acquisition system (SCADA) by sending telemetry data to a master device and by utilizing information from the master supervisory device to regulate connected items. The intelligent remote terminal unit helps the SCADA system and master device to control and communicate with tools in the grid placed at different locations.
A smart grid delivers two-way communication between power usage and its clients using communication technologies. An intelligent remote terminal unit virtually controls and observes the grid. They give real-time messages that assist in completing crucial activities, including water line leakages, power outage prevention, or pipeline breakage used to transport oil and gas.
Intelligent remote terminal units are utilized in substations to incorporate automation, encouraging the ideal distribution of power. Intelligent remote terminal units are also established in water treatment and distribution industries for power distribution and transmission. Additionally, they are used to control and check oil and gas lines.
Intelligent Remote Terminal Unit Market Growth and Trends
Driving factors for the industry :
• Extensive power consumption in different industry sectors all over the world has contributed in boosting and developing of the power grid infra structure or smart grids which offers two way communication between a power utility and a client who is utilizing the data.
• The growth of electric vehicles creates demand for power sources adding to the load on transmission and spreading of power assets, thereby boosting the intelligent remote terminal unit market growth and demand within forecasted time period.
• Growing demand for energy and its efficiency is propelling the need for the supervisory control and data analysis and grid monitoring which in turn drives the demand and growth of the intelligent remote terminal unit.
• Rapid improvement in the global power grid infrastructure is carried out by the several smart grid projects. There fore development of better smart grid projects is expected to increase the demand for SCADA (supervisory control and data acquisition) systems, thereby driving the growth of the intelligent remote terminal unit market.
• Large scale vendors are concentrating on the creation of a competitive environment for medium and small skill vendors by presenting them with a large portfolio of grid related customizable product.
• The increasing cross border connection along with growing grid monitoring activities and data analysis are some of the major factors to augment the growth and demand of the intelligent remote terminal unit market.
• The oil and gas end-user sectors including chemical and petrochemical, power generation and water &wastewater treatment industry are projected to hold a major market share of the intelligent remote terminal unit market. And thereby anticipated to augment the growth and demand of the intelligent remote terminal unit market. Apart from this there are many end-user sectors which present extensive demand for the intelligent remote terminal unit market.
Challenges for the industry :
• Lofty price segmentrelated with the installation and maintenance of the RTU (remote terminal unit) which help in transmitting real time data to the control station, is expected to hindered the growth of the intelligent remote terminal unit market.
Intelligent Remote Terminal Unit Market Regional Analysis
The European market of intelligent remote terminal units will hold a great share because of the increase in energy and energy efficiency applications. The rapid development in the several grid projects is expected to increase SCADA systems’ demands from 2019 to 2027. The Asia Pacific region is likely to hold a great share in the market because the increase in the number of industries such as oil, gas, power generation, chemical, and wastewater, petrochemical drives the growth in the global market. Other countries of North America are likely to increase and hold great revenue because of the increment in the vehicles’ demand.
Intelligent Remote Terminal Unit Market Share and Competition
Key companies operating in this industry are: ABB, GE Grid Solutions, LLC, Honeywell International Inc., Schneider Electric SE, Siemens Energy, and Advantech Co., Ltd. Similar industries in this domain that is growing at a high CAGR include Smart Grid Remote Terminal Unit Market and Automotive Remote Keyless Entry System Market.
Intelligent Remote Terminal Unit Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2020 - 2027)
• Interactive Kiosks
• Interactive Video Wall
• Interactive Whiteboard
• Interactive Monitor
• Interactive Table
• Interactive Flat-Panel Display
End-user Analysis (Revenue, USD Million, 2020 - 2027)
• Oil & Gas
• Chemical & Petrochemical
• Power Generation
• Water & Waste Water (W&WW) Treatment
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Intelligent Remote Terminal Unit Market Companies
• GE Grid Solutions, LLC
• Honeywell International Inc.
• Schneider Electric SE
• Siemens Energy
• Advantech Co., Ltd.
Available Versions: -
United States Intelligent Remote Terminal Unit Market Research Report
Europe Intelligent Remote Terminal Unit Market Research Report
Asia Pacific Intelligent Remote Terminal Unit Market Research Report
India Intelligent Remote Terminal Unit Market Research Report
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