According to a market report by Lucintel, the future of the global remote terminal unit (RTU) in smart grids market looks promising with opportunities in the power plant, company power sector, residential, industrial, and transmission & distribution markets. The global remote terminal unit (RTU) in smart grids market is expected to reach an estimated $0.4 billion by 2030 from $0.3 billion in 2024,at a CAGR of 5.2% from 2024 to 2030. The major drivers for this market are increasing adoption of smart grid technologies and integration of renewable energy.
A more than 150-page report to understand trends, opportunity and forecast in remote terminal unit (RTU) in smart grids market to 2030 by communication (wired and wireless), component (processor, memory, input/output devices, and power supply), organization (small and medium enterprises and large enterprises), application (power plant, company power sector, residential, industrial, and transmission & distribution), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that, within the communication category, wireless is expected to witness higher growth over the forecast period due to easy installation in remote areas, cost-effective,and increasingly reliable.
Within the application category, transmission & distribution will remain the largest segment due to improve efficiency, reliability, and security.
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In terms of region, North America is expected to witness highest growth over the forecast period due to high adaption of smart grid technologies and presence of leading RTU manufacturers.
Applied Systems Engineering, General Electric, Honeywell international, Schweitzer Engineering, Siemens are the major suppliers in the remote terminal unit (RTU) in smart grids market.
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Lucintel
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