The global intelligent remote terminal unit market size reached US$ 3.11 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.44 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
What are intelligent remote terminal unit market?
An intelligent remote terminal unit (iRTU) represents a microprocessor-based electronic equipment used for remote monitoring of numerous devices and systems for automation via the internet. It monitors both the digital and analog field parameters and transmits data to a supervisory control and data acquisition (SCADA) master station. The intelligent remote terminal unit runs setup software to connect data input streams to output streams, troubleshoot installation problems, define communication protocols, etc. It is widely utilized in various processes, including petrochemical (oil) refineries and nuclear power, chemical, and sewage treatment plants. In line with this, an intelligent remote terminal unit is extensively used in quality control, agriculture, food processing, automobile manufacturing, and pharmaceutical manufacturing processes. Presently, iRTU providers are focusing on introducing more efficient solutions to attract more customers and maximize revenue.
Request for a free sample copy of this report:
What are the growth prospects and trends in the industry?
The rising usage of electricity, on account of the expanding population and the inflating levels of industrialization, is among the key factors stimulating the intelligent remote terminal unit market. Moreover, the introduction of power infrastructures to prevent frequent power outage problems is acting as another significant growth-inducing factor. Besides this, the widespread adoption of remote monitoring (RPM) systems by asset-intensive industries is propelling the market growth. Furthermore, water utilities are extensively investing in advanced technologies and utilizing SCADA systems to monitor important assets of water treatment plants, which is further catalyzing the global market. Apart from this, the escalating demand for electric vehicles (EVs) to minimize harmful emissions and support environmental health is also augmenting the market growth. Additionally, the growing number of smart grid projects is anticipated to fuel the intelligent remote terminal unit market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Wired Intelligent RTU
- Wireless Intelligent RTU
The report has provided a detailed breakup and analysis of the intelligent remote terminal unit market based on the product type. This includes wired intelligent RTU and wireless intelligent RTU. According to the report, wired intelligent RTU represented the largest segment.
End User Insights:
- Oil and gas
- Power
- Chemical
- Water and wastewater
- Others
A detailed breakup and analysis of the intelligent remote terminal unit market based on the end user has also been provided in the report. This includes oil and gas, power, chemical, water and wastewater, and others. According to the report, oil and gas accounted for the largest market share.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Advantech Co. Ltd., Emerson Electric Co., General Electric Co., Hitachi Energy Ltd. (Hitachi Ltd.), Honeywell International Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, etc
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/