The intelligent remote terminal unit market size is expected to grow by USD 1.59 bn during 2020-2024, progressing at a CAGR of over 6%. The report provides thorouh insights on the COVID-19 impact on the market and new business opportunities, if any, during the pandemic period. According to Technavio research experts, we expect the impact to be significant during the first quarter, which should gradually alleviate in subsequent quarters – with a limited impact on the full-year economic growth.
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Intelligent Remote Terminal Unit Market Trends & Drivers
The intelligent remote terminal unit market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand. While it is essential to capitalize on key drivers such as advent of smart grid projects, it is also crucial to understand the challenges that will impede sales during the forecast period. Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.
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The intelligent remote terminal unit market has also explored key trends such as growing adoption of scada in water monitoring, which will have a significant positive impact on the market growth over the forecast period. A thorough study of the market trends will enable vendors to understand demographics effectively, which can be used to further product and service innovation.
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Intelligent Remote Terminal Unit Market: Segmentation Analysis
This market research report segments the intelligent remote terminal unit market by End-user (Oil and gas, Power, Chemical, Water and wastewater, and Others) and Geographic Landscape (APAC, Europe, MEA, North America, and South America).
The Europe region led the intelligent remote terminal unit market in 2020, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as increasingly investing in wind farms.
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A few of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
Vendors covered
Vendor classification
Market positioning of vendors
Competitive scenario