The Industrial Remote-Control Market is being driven by a number of factors, including the need for real-time monitoring of crucial industrial processes and machinery, the rising demand for automation across numerous sectors, including the automotive and electronics industries, and the requirement for increased safety and security in risky industrial environments. Additionally, the booming mining and construction sectors are anticipated to generate sizable prospects for market expansion in the years to come.
Furthermore, it is projected that the market would rise due to the implementation of strict government laws addressing safety in numerous industries.
The many advantages an industrial remote control has over more conventional means of controlling industrial machinery create the necessity for them. It assists in lowering both the overall cost of manufacturing and the amount of machine downtime. Additionally, it improves worker safety by giving them a secure working environment.
Industrial Remote-Control has a number of benefits, one of which is that it enhances the industrial process' productivity and efficiency. In addition to lowering personnel costs and time requirements, industrial remote control. Reducing energy and raw material waste is made easier by it. Keeping them away from dangerous situations also serves to increase the safety of the workers. The industrial process can be monitored and managed remotely to further assist.
The technology that enables the remote operation of machinery or other equipment is known as an industrial remote control. For automation purposes, it is widely utilised in a variety of industries, including the automotive, electronics, and food and beverage sectors. Due to the rising demand for automation across a number of industries, the industrial remote-control market is predicted to expand significantly during the forecast period.
During the forecast period of 2021 to 2031, the market for industrial remote controls is expected to expand at a CAGR of 7.5% and reach a market value of USD 3.1 billion.
The high cost of installation and lack of standardisation is a couple of the major factors limiting the growth of the worldwide industrial remote-control market. Additionally, the availability of substitutes such as programmable logic controllers is anticipated to restrain market expansion. Nevertheless, during the course of the forecast period, it is projected that Industry 4.0's growing adoption would open up new chances for market participants.
ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (US), Schneider Electric SE (France), Eaton Corporation PLC (Ireland), Honeywell International Inc. (US), Rockwell Automation, Inc. (US), Omron Corporation (Japan), Pilz GmbH & Co. KG (Germany), and ZF Friedrichshafen AG (Germany) are some of the major companies competing in the industrial remote-control market.
The Wireless Remote Control Type emerged as the Most Lucrative Segment
The industrial remote-control market is divided into two groups based on type: corded remote control and wireless remote control. Due to the ubiquity of wireless technologies and the growing acceptance of IoT across various industries, the wireless category is anticipated to grow at the highest CAGR among these over the forecast period. During the projection period, the corded remote control segment is anticipated to expand significantly as well. owing to the dependability and safety of corded remote controllers.
The Most Popular Application Segment is Industrials
The Industrials, mining, oil & gas, ports & maritime, and other segments make up the industrial remote-control market. Due to the increasing need for automation across numerous industries, including the automotive and electronics sectors, the industrials segment is anticipated to account for a sizable portion of the entire market. Due to the rising demand for remotely operated vehicles (ROVs) in these industries, the mining and oil & gas segments are also anticipated to expand significantly over the course of the projected year. Due to the demand for effective management of goods and vessels, the ports & maritime segment is also anticipated to expand significantly during the projection period. The others section covers industries like agriculture and construction.
North America region to render Adequate Financing Avenues
Due to the rising demand for automation across a number of industries, the worldwide industrial remote-control market is anticipated to have considerable expansion during the forecast period. In 2020, the industrial remote control market in North America was the largest. Due to the presence of top companies and a sizable number of end-use industries, the area is predicted to keep its top spot during the projected period. Due to the swift economic expansion of nations like China and India, the Asia-Pacific area is also anticipated to have significant growth throughout the projection period. During the forecast period, it is also anticipated that the Europe and South America areas will expand somewhat.
COVID-19 Impact and Market Status
The industrial remote-control market has been significantly impacted by the COVID-19 epidemic. The epidemic has caused manufacturing activity to slow down and a number of projects in numerous end-use industries to be delayed. The demand for industrial remote-control products and solutions has decreased as a result of this. Additionally, the supply chains of manufacturers and suppliers have been disrupted by the lockdown restrictions implemented in some nations, which has further hampered industry expansion. However, the market is anticipated to rebound in the upcoming month's thanks to the slow relaxing of shutdown restrictions and the resumption of manufacturing activity.
Latest Innovations in the Global Industrial Remote-Control Market: A Snapshot
• Rockwell Automation debuted its new Allen-Bradley Bulletproof Wireless Solutions in January 2019, which are intended to deliver dependable, durable, and secure wireless communication for industrial applications.
• The WLC30 wireless light curtain system by Banner Engineering, which uses Bluetooth Low Energy (BLE) mesh technology for machine safety applications, was released in February 2019.
• The LD Mobile Robot Series from Omron Corporation was introduced in September 2019 with a built-in wireless controller that provides smooth connectivity and Industry 4.0 compliance.
• ABB unveiled the REX521 remote I/O generation in October 2019 with the goal of making installation and maintenance in hazardous places simpler.
Industrial Remote Control Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 3.1 billion|
|Growth Rate||CAGR of 7.5% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (US), Schneider Electric SE (France), Eaton Corporation PLC (Ireland), Honeywell International Inc. (US), Rockwell Automation, Inc. (US), Omron Corporation (Japan), Pilz GmbH & Co. KG (Germany), and ZF Friedrichshafen AG (Germany)|
Key Segment of Global Industrial Remote-Control Market
By Type Overview 2021-2031, (USD Billion)
• Wireless Remote Control
• Corded Remote Control
By Application Overview 2021-2031, (USD Billion)
• Industrials, Mining
• Oil & Gas
• Ports & Maritime
By Region Overview 2021-2031, (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa