SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ -- 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 2026Amid 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 2026The 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 2026In 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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SOURCE Global Industry Analysts, Inc.