LONDON--(BUSINESS WIRE)--Technavio, a tech-focused research firm, has published a new report on the global remote renewable management system market, which is expected to grow at a CAGR of close to 9% from 2015-2019.
According to the new report by Technavio, remote renewable management systems improves economic performance and asset management in renewable power generation. As renewable generation plants are located in remote locations, asset management and monitoring becomes cumbersome.
“Remote renewable management systems analyze key performance indicators, equipment health, maintenance schedules, and application of field data, which reduces turnaround time by streamlining the workflow and improves profit margins by increasing system uptime,” says Faisal Ghaus, Vice President of Technavio.
The new report by Technavio also discusses the vendors that are offering centralized software, which monitor and control the whole renewable plant and enhances user-convenience. The equipment is connected to the remote communication terminal (RCT) that transmits information through a Modbus or Ethernet.
“Vendors are also developing wireless hubs that can transmit and receive signals from the remote control to other systems or devices. Such advances in technology will stimulate the growth of the remote renewable management system market during the forecast period,” adds Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Renewable Energy Market in the Military Sector 2014-2018
- Global Inverter Systems Market for Renewable Energy 2014-2018
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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