Remote Power Generator Monitoring - Increasing Adoption of Wi-Com is a Major Driver | Technavio

Technavio has published a new market research report on the global remote power generator monitoring market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The latest market research report by Technavio on the global remote power generator monitoring market predicts a CAGR of above 4% during the period 2018-2022.

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%

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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.

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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.

 

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The latest market research report by Technavio on the global remote power generator monitoring market predicts a CAGR of above 4% during 2018-2022.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com