Global Turbine Monitoring and Controls Market 2018-2022 | Rising Wind Energy Consumption Drives Growth | Technavio
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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181002005872/en/
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.
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.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181002005872/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: TECHNOLOGY ELECTRONIC DESIGN AUTOMATION HARDWARE INTERNET SOFTWARE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 10/02/2018 12:40 PM/DISC: 10/02/2018 12:40 PM