San Francisco, California, August 22, 2017 : The global remote terminal units market is prognosticated to witness a robust potential for growth with the surging advent of technological advancements in process monitoring and data transmission. TMR Research expects the market expansion to be bolstered by the improving SCADA (Supervisory Control and Data Acquisition) regulations, rising threats against data security, and the boost of the automation industry. According to a report by the market research company, titled, “Remote Terminal Units Market – Global Industry Analysis, Market size, Share, Growth, Trends and Forecast 2017 – 2025,” a number of these factors are predicted to significantly contribute to the hike in demand of remote terminal units.
Despite the substantial propulsive factors mentioned, the worldwide market for remote terminal units is anticipated to face a few hardships. The Remote Terminal Units (RTU’s) have become saturated systems in some parts of the world, with no scope for new installations. Retrofitting of existing switchgears and control systems can prove to be a herculean task. Moreover, installing new RTU networks across inaccessible locations requires considerable investment. However, discovery of new fields, and the rapidly developing gas and oil industries are expected to provide the necessary impetus to the market in the coming years. Subsequently, market players are expected to experience a sizable industry growth.
During the forecast period of 2017 to 2025, developing markets for remote terminal units such as Asia Pacific are predicted to set the grounds for a noticeable growth in the industry. The geographical segmentation offered in the report clarifies that, the primary revenue achieved by these regional markets could be a result of discovery of new fields in this region. One of the important factors projected to fuel the growth of international remote terminal units market growing implementation SCADA regulations across the world. The burgeoning requirements of data security globally are expected to aid in the business growth.
Players participating in the global remote terminal units market could foresee robust growth prospects on account of the initiation of significant oil exploration and power grids across countries like China, Malaysia, Indonesia and Malaysia. Countries in the Middle East, Latin America and Africa are also predicted to foresee a similar trend. Market players such as General Electric Company, Siemens AG, Schneider Electric SE and TopRank Corporation are expected to make their presence known in the market.
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