Intelligent Remote Terminal Unit Market by Product Type (Wired Intelligent RTU, Wireless Intelligent RTU, Oil and gas), End User (Power, Chemical, Water and wastewater, and Others), and Region 2023-2028

Intelligent Remote Terminal Unit Market by Product Type (Wired Intelligent RTU, Wireless Intelligent RTU, Oil and gas), End User (Power, Chemical, Water and wastewater, and Others), and Region 2023-2028

Market Overview:

The global intelligent remote terminal unit market size reached US$ 3.11 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.44 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028. Significant rise in electricity consumption, rapid industrialization, and the growing demand for freshwater supplies represent some of the key factors driving the market.

An intelligent remote terminal unit (iRTU) is a microprocessor-based electronic equipment used for remote monitoring of various devices and systems for automation via the internet. It monitors both the digital and analog field parameters and transmits data to a supervisory control and data acquisition (SCADA) master station. It runs setup software to connect data input streams to output streams, troubleshoot installation problems, and define communication protocols. It is widely employed in several processes, including petrochemical (oil) and refineries and nuclear power, chemical, sewage treatment and water treatment plants. Besides this, iRTU is used in agriculture, quality control, food processing, automobile manufacturing, and pharmaceutical manufacturing processes. At present, iRTU providers are focusing on developing more efficient solutions to attract more customers and maximize revenue.

Intelligent Remote Terminal Unit Market Trends:

Presently, a considerable increase in electricity consumption on account of the growing population and industrialization represents one of the key factors positively influencing the market. The development of power infrastructure to prevent frequent power outage problems is also driving the usage of iRTUs to improve the efficiency of the transmission and distribution network. In addition, the increasing adoption of remote monitoring (RPM) systems by various industries, especially asset-intensive industries, is creating a positive market outlook. These industries are facing the difficulty of achieving high operating efficiency due to power fluctuations that damage the functioning of important equipment, resulting in significant revenue loss. Furthermore, the growing demand for freshwater supplies in urban areas and the rising water pollution level are other factors catalyzing the demand for iRTUs worldwide. Water utilities are continuously investing in innovative technologies and utilizing SCADA systems to enhance water infrastructure monitoring capabilities and monitor important assets of water treatment plants. Moreover, the shifting consumer preferences towards electric vehicles (EVs) to minimize harmful emissions and support environmental health, along with the integration of renewable energy, is creating a massive load on existing power transmission and distribution assets. Consequently, there is an increase in the need for converting conventional grids to smart grids. Furthermore, the rising number of smart grid projects across numerous countries is expected to drive the demand for SCADA systems and, in turn, propel the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global intelligent remote terminal unit market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type and end user.

Product Type Insights:

Wired Intelligent RTU
Wireless Intelligent RTU

The report has provided a detailed breakup and analysis of the intelligent remote terminal unit market based on the product type. This includes wired intelligent RTU and wireless intelligent RTU. According to the report, wired intelligent RTU represented the largest segment.

End User Insights:

Oil and gas
Power
Chemical
Water and wastewater
Others

A detailed breakup and analysis of the intelligent remote terminal unit market based on the end user has also been provided in the report. This includes oil and gas, power, chemical, water and wastewater, and others. According to the report, oil and gas accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Europe was the largest market for intelligent remote terminal unit. Some of the factors driving the Europe intelligent remote terminal unit market included the expansion of numerous industries, the increasing need for power and water supply across residential and commercial sectors, and various smart grid projects.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global intelligent remote terminal unit market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Advantech Co. Ltd., Emerson Electric Co., General Electric Co., Hitachi Energy Ltd. (Hitachi Ltd.), Honeywell International Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

How has the global intelligent remote terminal unit market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global intelligent remote terminal unit market?
What are the key regional markets?
Which countries represent the most attractive intelligent remote terminal unit market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the end user?
What is the competitive structure of the global intelligent remote terminal unit market?
Who are the key players/companies in the global intelligent remote terminal unit market?