The report segments the global remote power generator monitoring market by product type (diesel generators and gas generators), by end-user (utility, oil and gas, and metals and mining), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global remote power generator monitoring market, according to Technavio industrial automation researchers:
- Increasing adoption of Wi-Com: a major market driver
- Emergence of IoT-based devices and technologies: emerging market trend
- APAC dominated the global remote power generator monitoring market with 36% share in 2017
- In 2017, utility segment held the highest market share of 34%
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Increasing adoption of Wi-Com: a major market driver
The rising implementation of Wi-Com technologies by most end-user industries is driving the growth of the global remote power generator monitoring market. Earlier, Wi-Com technology was being used in consumer appliances such as cell phones, but now it has several applications in various industries such as the remote power generator monitoring. The day-to-day processes in end-user industries are becoming increasingly complex. There has been a substantial increase in the demand for real-time data monitoring and UPS.
The ability of Wi-Com devices to extract data from generators, pumps, motors, conveyors to refineries, cooling towers, and drilling machines has led to its high usage. Wi-Com technology is the best alternative in applications where the installation of cables is highly complex or not feasible economically. In industries, such as oil and gas and power, the plant and the main control unit are separated from each other. Wi-Com helps the operators to collect data that is communicated immediately to all concerned authorities through handheld devices such as smartphones. This ensures transparency in data and enables prompt action.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Emergence of IoT-based devices and technologies: emerging market trend
The onset of the IoT has made some significant changes to the discrete and process industries, globally. Remote power generators with IoT-integrated controllers are new technologies in the field of power generators. The functional benefits of IoT is leading to its increased demand. Its ability to be connected to the Internet to offer remote-controlled connectivity is further fueling the demand. These devices can offer inputs about the designated area by sensing and analyzing its surroundings. In remote power generators with IoT-integrated controllers, the integrated IoT controller enables a two-way connection for the generator. It intermediates unprocessed raw data to pass through and pushed to a cloud-based platform. For smooth functioning of operations, there is a continuous check on the data that is being processed.
According to a senior analyst at Technavio for research on automation, “When the system detects a malfunction in the generator, a ticket is raised, and it is flagged to be sorted out at the earliest. This reduces downtime and increases the productivity of the plant. Further benefits of IoT-integrated remote power generators include its ability to make rational decisions. Based on load requirement, IoT controller decides which generator must run continuously to produce enough power for the plant. This decreases the complexity of maintaining the performance of the generator.”
Global market opportunities
In terms of regional dominance, APAC led the global remote power generator monitoring market, followed by EMEA and the Americas in 2017. APAC is expected to maintain its position throughout the forecast period. Primary factors leading to its growth is the growing population and the improving per capita income. This is leading to industrial development in the region.
Technavio’s best deals of the month!
Mark the beginning of spring with Technavio. Get 30% discount on all energy reports. Offer valid from 12th March for a limited period.
Get 20% off on all media and entertainment services reports. Offer valid only till the 31st of March.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.