COVID-19 Impacts: Intelligent Remote Terminal Unit Market will Accelerate at a CAGR of over 6% through 2020-2024 | Growing Need For Grid Modernization Through Smart Grids to Boost Growth | Technavio
Technavio has been monitoring the intelligent remote terminal unit market and it is poised to grow by $ 1.59 bn during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Intelligent Remote Terminal Unit Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Advantech Co. Ltd., Emerson (News - Alert) Electric Co., Honeywell International Inc., Larsen and Toubro Ltd., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, General Electric Co., and Yokogawa Electric (News - Alert) Corp. are some of the major 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.
The growing need for grid modernization through smart grids has been instrumental in driving the growth of the market. However, the high cost associated with the installation and maintenance of RTUs might hamper the market growth.
Intelligent Remote Terminal Unit Market 2020-2024 : Segmentation
Intelligent Remote Terminal Unit Market is segmented as below:
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Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our intelligent remote terminal unit market report covers the following areas:
This study identifies the growing adoption of SCADA in water monitoring as one of the prime reasons driving the intelligent remote terminal unit market growth during the next few years.
Intelligent Remote Terminal Unit Market 2020-2024 : Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the intelligent remote terminal unit market, including some of the vendors such as ABB Ltd., Advantech Co. Ltd., Emerson Electric Co., Honeywell International Inc., Larsen and Toubro Ltd., Rockwell Automation Inc., Schneider Electric SE, Siemens AG (News - Alert), General Electric Co., and Yokogawa Electric Corp. Backed with competitive intelligence and benchmarking, our research reports on the intelligent remote terminal unit market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Intelligent Remote Terminal Unit Market 2020-2024 : Key Highlights
Table Of Contents :
Five Forces Analysis
Market Segmentation by End-user
Drivers, Challenges, and Trends
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