LONDON--(BUSINESS WIRE)--The global intelligent remote terminal unit market is expected to grow by USD 1.59 billion, as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 6%.
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The market is driven by the growing need for grid modernization via smart grids. In addition, the growing adoption of SCADA in water monitoring is anticipated to boost the growth of the intelligent remote terminal unit market.
Rapid industrialization and rising global population have increased the demand for energy across the world. Besides, the rise in the adoption of electric vehicles has added to the load on transmission and distribution assets. These factors are leading to a demand-supply mismatch, which is resulting in frequent power outages. Adoption of smart grids can help to reduce power outages and address power supply disruption effectively. Hence, several smart grid projects are underway to improve the global grid infrastructure. For instance, in 2016, the Singapore Power Centre of Excellence signed an agreement worth more than USD 7 million on smart grids and data analytics projects. Such investments are increasing the demand for SCADA systems, which is positively influencing the growth of the global intelligent remote terminal unit market.
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Major Five Intelligent Remote Terminal Unit Companies:
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers products such as RTU520, RTU 540, and RTU 560 under its RTU 500 series.
Advantech Co. Ltd.
Advantech Co. Ltd. operates its business through segments such as Industrial Internet of Thing Services (IIoT), Embedded Boards and Design-in Services (EIoT), Allied Design Manufacture Services (Allied DMS), Intelligent Services (SIoT), and Global Customer Services (AGS & APS). The company offers RTU ADAM-3600 Series for data collection, pre-processing, and transmission forwarding.
Emerson Electric Co.
Emerson Electric Co. operates its business through segments such as Automation Solutions and Commercial and Residential Solutions. The company offers ControlWave Micro-Hybrid RTU and PLC. It is a highly programmable controller that combines the unique capabilities of a programmable logic controller and a remote terminal unit into a single hybrid controller.
General Electric Co.
General Electric Co. operates its business through segments such as Power, Renewable energy, Aviation, and Healthcare. The company offers products such as PAC8000 RTU and Multilin DGCM field RTU.
Honeywell International Inc.
Honeywell International Inc. operates its business through segments such as Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers products such as ControlEdge RTU, RC500 RTU, and RTU2020.
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Intelligent Remote Terminal Unit Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Oil and gas
- Water and wastewater
Intelligent Remote Terminal Unit Market Geographic Landscape Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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