Intelligent Remote Terminal Unit Market Size, Share, By Type (Interactive Kiosks, Interactive Whiteboard, Interactive Table, Interactive Video Wall, Interactive Monitor, Interactive Flat-Panel Display, and Others), By Application (Oil and Gas Industry, Chemical and Petrochemical Industry, Power Generation Industry, Water and Wastewater Industry, and Others), and By Region - Trends, Analysis and Forecast till 2034

Report Code: PMI99319 | Publish Date: May 2023 | No. of Pages: 167

Global Intelligent Remote Terminal Unit Overview

  • In 2023, intelligent remote terminal unit market was estimated to be worth USD 2.23 Billion.
  • By 2034, the target market is expected to grow to USD 7.2 Billion.
  • Target market is expanding at a CAGR of 6.1%

Market Overview:

With the evolution of the era of big data, internet of things (IoT) technology is being widely used and thus, driving growth of the global intelligent remote terminal unit market. In recent years, workers needed to regularly monitor larger oilfield zones. The use of intelligent terminal unit can easily identify status of equipment, and greatly reduce costs of man power. Thus, boosting growth of the target market. Additionally, rise in the use of electric vehicles has resulted in additional load on transmission and distribution assets which is expected to propel growth of the global market over the forecast period.

 However, some uncertainties associated with low crude oil prices are the major factor restraining growth of the target market. Nevertheless, growing adoption of renewables in power generation is one of the major trends being witnessed in the global market owing to the growing awareness about the environment and regulatory policies supporting renewable energy.

Key Takeaways:

  • Europe held the largest share of the market.
  • Asia Pacific is projected to be the fastest-growing market in the coming years.
  • By type, the interactive monitor dominates the market growth.
  • By application, the oil and gas industry accounted for the highest market share.

Intelligent Remote Terminal Unit Market Report

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Global Intelligent Remote Terminal Unit Drivers & Restraints

Key Drivers of Target Market:

Reliable Transmission of Data

Intelligent RTUs exploit robust communication protocols such as Modbus, DNP3, and Ethernet for achieving the purpose of transmitting data securely and accurately over long distances. This help to ensures that the data collected from remote sites is accurately sent to central control systems, maintaining the integrity and continuity of operations.

Magnified Monitoring and Control

Intelligent RTUs collect real-time data from field devices such as sensors and actuators which allows operators to continuously monitor and control processes from a central location, ensuring

Hardened Design for Harsh Environment

Intelligent RTUs are built to withstand extremely high temperatures, humidity, dust, as well as chemical exposure which makes them ideal for use in remote and challenging environments where other devices might fail.

Restrains:

High Costs

The number and combination of discrete, analogs, and controls for proper monitoring of remote and very remote equipment have the most significant impact on RTU cost. Technology behind RTU is very sophisticated and costly.

  • Counterbalance Statements: One of the major solutions to this problem is Callistonx which can be used to rebuild legacy distribution switchgear instead of replacing it.

Opportunities:

Economies of Growth in Infancy

Emerging market in Asia Pacific regions, which consider increasing adoption of automation, presence of leading manufacturers,  increasing demands, as growing factors, create major opportunities for the market's growth, especially in power, petrochemical, manufacturing of automobile etc

Global Intelligent Remote Terminal Unit Segmentations & Regional Insights

The market is segmented based on Type, and Application.  

By Type

By Application

  • Interactive Kiosks
  • Interactive Whiteboard
  • Interactive Table
  • Interactive Video Wall
  • Interactive Monitor
  • Interactive Flat-Panel Display
  • Others
  • Oil and Gas Industry
  • Chemical and Petrochemical Industry
  • Power Generation Industry
  • Water and Wastewater Industry
  • Others

 

Type Insights:

On the basis of Type Intelligent Remote Terminal Unit Market is segmented into Interactive Kiosks, Interactive Whiteboard, Interactive Table, Interactive Video Wall, Interactive Monitor, Interactive Flat-Panel Display, and Others. Interactive Monitor dominate the target market growth.

Application Insights:

The intelligent remote terminal unit market by application is segmented into Oil and Gas Industry, Chemical and Petrochemical Industry, Power Generation Industry, Water and Wastewater Industry, and Others. Oil and Gas Industry accounted for the highest market share.

Regional Insights

Europe: Europe is the largest market for intelligent remote terminal unit due to some of the factors such as the expansion of numerous industries, the increasing need for power and water supply across residential and commercial sectors, and various smart grid projects.

Asia Pacific: This region is considered to be the fastest growing region in the target market due to increasing adoption of technology in various industries and the shift towards renewable energy sources, investments in various end-user industries, including power generation, agriculture, telecommunications, water and wastewater treatment, and oil and gas.

Intelligent Remote Terminal Unit Market Report Scope:

Attribute

Details

Market Size 2024

USD 4.2 Billion 

Projected Market Size 2034

USD 7.2 Billion

CAGR Growth Rate

6.1% (2024-2034)

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels, analyzing industry trends and opportunities across sub-segments from 2024 to 2034. It segments the market by Type, Application, and Region.

Segmentation:

By Type:

  • Interactive Kiosks
  • Interactive Whiteboard
  • Interactive Table
  • Interactive Video Wall
  • Interactive Monitor
  • Interactive Flat-Panel Display
  • Others

By Application:

  • Oil and Gas Industry
  • Chemical and Petrochemical Industry
  • Power Generation Industry
  • Water and Wastewater Industry
  • Others

By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Intelligent Remote Terminal Unit Competitive Landscape & Key Players

The key players operating in the Intelligent Remote Terminal Unit Market include ABB, Rockwell Automation, Inc., Honeywell International Inc., Schneider Electric, Siemens, Advantech Corp. Ltd., eLynx Technologies,  Emerson Electric Co., Enbase Energy Technology Inc., General Electric Company, Hitachi Energy Ltd., Eatcon, Enilit, Dorsett Technologies Inc. , and FF-Automation.

Intelligent Remote Terminal Unit Market Key Players

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Global Intelligent Remote Terminal Unit Recent News

  • In July 2023, Siemens announced the release of its new SIPROTEC 8000 RTU, a high-performance RTU designed for demanding substation applications. The new RTU features advanced protection and control capabilities.
  • In November 2023, Siemens signed a contract with China Southern Power Grid to supply 1,000 RTUs for a new transmission line project. The contract is the largest single order for RTUs ever signed by Siemens.

Analyst View:

The industry for intelligent remote terminal unit market is placed for substantial growth due to rise in the use of electric vehicles and increasing usage of big data, internet of things (IoT) technology. New innovations and development, advance technologies as well as many collaborations and partnerships helps to boost the growth of the market in upcoming years.

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Global Intelligent Remote Terminal Unit Company Profile

  • ABB
  • Rockwell Automation, Inc.
  • Honeywell International Inc.
  • Schneider Electric
  • Siemens
  • Advantech Corp. Ltd.
  • eLynx Technologies
  • Emerson Electric Co.
  • Enbase Energy Technology Inc.
  • General Electric Company
  • Hitachi Energy Ltd.
  • Eatcon
  • Enilit
  • Dorsett Technologies Inc.
  • FF-Automation

FAQs

Intelligent Remote Terminal Unit Market Size was valued at USD 4.2 Billion in 2024 and is expected to reach USD 7.2 Billion by 2034, growing at a CAGR of 6.1%.

The Market is segmented into Type, Application, and Region.

The Market is segmented by region North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. Europe is expected to dominate the Market.

The key players operating in the Intelligent Remote Terminal Unit Market include ABB, Rockwell Automation, Inc., Honeywell International Inc., Schneider Electric, Siemens, Advantech Corp. Ltd., eLynx Technologies, Emerson Electric Co., Enbase Energy Technology Inc., General Electric Company, Hitachi Energy Ltd., Eatcon, Enilit, Dorsett Technologies Inc. , and FF-Automation.