– A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Remote Asset Management – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 9722
Companies: 41 – Players covered include AT&T, Inc.; Cisco Systems, Inc.; Hitachi Ltd.; Infosys Ltd.; PTC, Inc.; Rockwell Automation, Inc.; SAP SE; Schneider Electric SA; Verizon Communications, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Application (Building Automation, Connected Agriculture, Healthcare, Retail, Production Monitoring, Utilities & Smart Grids, Connected Logistics & Fleet Management, Other Applications); Solution (RTLS, Predictive Maintenance, Streaming Analytics, Asset Condition & Performance Management, Surveillance & Security, Other Solutions)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Remote Asset Management Market to Reach $56.3 Billion by 2026
Amid the COVID-19 crisis, the global market for Remote Asset Management estimated at US$16.7 Billion in the year 2020, is projected to reach a revised size of US$56.3 Billion by 2026, growing at a CAGR of 22% over the analysis period. RTLS, one of the segments analyzed in the report, is projected to record a 23% CAGR and reach US$18.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Predictive Maintenance segment is readjusted to a revised 21.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.4 Billion in 2021, While China is Forecast to Reach $9.9 Billion by 2026
The Remote Asset Management market in the U.S. is estimated at US$6.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.9 Billion by the year 2026 trailing a CAGR of 21.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.8% and 18.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.3% CAGR.
Streaming Analytics Segment to Reach US$6.1 Billion by the year 2026
In the global Streaming Analytics segment, USA, Canada, Japan, China and Europe will drive the 20.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$5.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
Director, Corporate Communications
Global Industry Analysts, Inc.
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