The global remote monitoring and control market is expected to grow from USD 24.6 billion in 2022 to USD 32.3 billion by 2027, registering a CAGR of 5.6% from 2022 to 2027. The rising demand for industrial mobility solutions and the deployment of AI and IoT technologies in the manufacturing sector are propelling the growth of the remote monitoring and control market.
Emerson Electric (US), Honeywell International (US), Siemens (Germany), Schneider Electric (France), and ABB (Switzerland) are the top five players in the remote monitoring market. These companies offer a wide range of remote monitoring and control systems, as well as related solutions and services, and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share.
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Emerson Electric is a global technology and engineering company that provides innovative solutions for customers in the industrial, commercial, and residential markets. It operates through the following business segments: Automation Solutions, Climate Technologies, and Tools & Home Products. The Automation Solutions segment caters to the oil & gas, refining, chemical, power, pharmaceutical, food & beverage, automotive, pulp & paper, metals & mining, and water & wastewater treatment industries. This segment offers measurement and analytical instrumentation, valves, actuators and regulators, industrial solutions, and process control systems and solutions. Emerson offers remote monitoring and control solutions under its Automation Solution business segment, including SCADA systems, measuring instrumentation, and programmable automation control systems (PLC/PAC). The company offers SCADA systems and distributed RTU networks, which are used in different networks and parts of SCADA systems.
Honeywell International is a diversified technology and manufacturing company serving its customers worldwide. The company operates through four major segments—Aerospace, Performance Material and Technologies, Safety and Productivity Solutions, and Honeywell Building Technologies. Honeywell offers remote monitoring and control solutions through its Performance Materials and Technologies business unit. This unit provides services for the oil & gas, refining, power generation, chemicals, pulp & paper, metals, minerals, and mining industries. The unit also provides control & supervisory systems, field instruments, process instruments, software, spare parts, terminal, thermal solutions, and wireless networks and transmitters. Honeywell offers sensors, field instruments, HMI, PLC, SCADA, transmitters, RTU, and control valves.
Siemens, formerly known as Siemens & Halske AG, is a German electronics & electrical engineering company that operates in the fields of electrification, automation, and digitalization. It operates through the following five business segments: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Siemens Financial Services. The Smart Infrastructure segment supplies products, systems, services, and software for a sustainable transition in electrical energy for power utilities, industrial companies, and infrastructure segments. Siemens offers remote monitoring and control solutions under its Digital Industries segment that offers a comprehensive portfolio of products and system solutions for automation technologies used in manufacturing industries, such as automation systems and software for factory automation, industrial controls and numerical control systems, motors, drives and inverters, and integrated automation systems for machine tools and production machines, complemented by product and production lifecycle software and software for simulation and testing of mechatronic systems.
Remote Monitoring and Control Market by Type(Solutions (SCADA, Vibration Monitoring), Field Instruments (Level Transmitters, Pressure Transmitters, Temperature Transmitters, Intelligent Flow Meters)), Industry and Region - Global Forecast to 2027
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