Global Turbine Monitoring and Controls Market 2018-2022 | Rising Wind Energy Consumption Drives Growth | Technavio

October 2, 2018

LONDON--(BUSINESS WIRE)--Oct 2, 2018--The global turbine monitoring and controls market report by predicts the market to post a CAGR of around 5% during the period 2018-2022.

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Technavio has published a new market research report on the global turbine monitoring and controls market for the period 2018-2022. (Graphic: Business Wire)

A key turbine monitoring and controls market driver is the rise in wind energy consumption. The growing number of wind turbines and the increasing consumption of wind energy is driving the turbine monitoring and controls market growth. Many countries globally are adopting non-renewable sources of energy to generate power due to growing environmental concern toward the emission of greenhouse gas and government regulations regarding the adoption of clean sources of energy.

This research also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights the emergence of IoT as one of the key trends in the turbine monitoring and controls market:

Global turbine monitoring and controls market: Emergence of IoT

IoT has become one of the most rapidly growing markets due to the rising emphasis on the connected environment. Product customization is one of the major drivers of IoT owing to which the companies across the globe are focusing on networking their machinery, equipment, and motion control systems.

“OEMs are undergoing major transformation due to the adoption of IoT enabling technologies such as digital control, wireless communications, lower-cost sensors, and remote monitoring. The efficiency, performance, and accessibility of built-in machine intelligence is being enhanced by the adoption of such technologies. The machine builders and manufacturers are expected to adopt technologies such as data analytics and smart energy monitoring,” says a senior research analyst at Technavio.

Global turbine monitoring and controls market: Segmentation analysis

This turbine monitoring and controls market analysis segments the market by application (gas turbine, wind turbine, steam turbine, and hydro turbine) and geography (the Americas, APAC, and EMEA).

The gas turbine segment held the largest turbine monitoring and controls market share in 2017, accounting for over 45% of the market. This application segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with approximately 46% of the market share, followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181002005872/en/

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SOURCE: Technavio Research

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PUB: 10/02/2018 12:40 PM/DISC: 10/02/2018 12:40 PM


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