Intelligent Remote Terminal Unit Market: Introduction
- A remote terminal unit (RTU) is a microprocessor-controlled device that helps the master device and supervisory control and data acquisition (SCADA) system to monitor and communicate with devices in the grid placed at various geographical locations
- A smart grid offers two-way communication between a power utility and its clients utilizing data and communication technologies
- RTUs essentially observes and controls the grid. They give real-time information that help in completing important activities, including prevention of power outage, leakages in water line, or breakage of the pipeline used to move oil and gas.
- An SCADA framework allows the service industry to remotely screen and control network devices to increase reliability.
- Real-time data is collected in smart grids with the help of sensors. RTUs help in transmitting real-time data to the control station, improving the performance of the grid in real time.
- RTUs are employed in substations to integrate automation, prompting the ideal distribution of power.
- RTUs are also installed in water treatment and distribution plants, for power transmission and distribution (T&D), and to check and control oil and gas lines.
- Large-scale vendors create competitive environment for medium- and small-scale vendors by offering a large portfolio of grid related products and also customizable products.
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Global Intelligent Remote Terminal Unit Market Dynamics
- Rapidly increasing power consumption in different industries has augmented the development of a power grid infrastructure. Moreover, rise in the number of electric vehicles has created demand for power sources. This is adding to the load on transmission and distribution of power assets.
- Globally, several smart grid projects are in progress to improve the global power grid infrastructure. Therefore, development of smart grid projects is anticipated to increase the demand for SCADA systems thus, driving the intelligent remote terminal unit market.
- Moreover, increase in demand for energy and energy efficiency is fueling the need for supervisory control, data analysis, and monitoring of grids
- High cost associated with installation as well as maintenance of RTUs is expected to hamper the growth of the global intelligent remote terminal unit market in the near future
Global Intelligent Remote Terminal Unit Market: Segmentation Analysis
- On the basis of type, the intelligent remote terminal unit market can be segmented into interactive kiosks, interactive video wall, interactive whiteboard, interactive monitor, interactive table, and interactive flat-panel display.
- In terms of end-user, the intelligent remote terminal unit market can be divided into oil & gas, chemical & petrochemical, power generation, and water & waste water (W&WW) treatment.
- The oil & gas end-user segment accounted for a major share of the intelligent remote terminal unit market in 2018.
- The market share of this segment is anticipated to increase its. It is therefore, expected to lead the global intelligent remote terminal unit market during the forecast period.
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Europe to Lead the Global Intelligent Remote Terminal Unit Market
- The global intelligent remote terminal unit market can be divided into: North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- Europe is likely to dominate the market for intelligent remote terminal unit from 2019 to 2027, followed by North America and APAC.
Key Manufacturers Operating in Intelligent Remote Terminal Unit Market
The global intelligent remote terminal unit market was moderately fragmented in 2018. Key manufacturers operating in the global intelligent remote terminal unit market are:
- GE Grid Solutions, LLC
- Honeywell International Inc.
- Schneider Electric SE
- Siemens Energy
- Advantech Co., Ltd.
Global Intelligent Remote Terminal Unit Market: Research Scope
Global Intelligent Remote Terminal Unit Market, by Type
- Interactive Kiosks
- Interactive Video Wall
- Interactive Whiteboard
- Interactive Monitor
- Interactive Table
- Interactive Flat-Panel Display
Global Intelligent Remote Terminal Unit Market, by End-user
- Oil & Gas
- Chemical & Petrochemical
- Power Generation
- Water & Waste Water (W&WW) Treatment
Global Intelligent Remote Terminal Unit Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Microprocessor-Controlled Devices
- Interactive Devices
- Smart Grid Projects
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.