Remote Asset Management Market Growing at a CAGR 14.6% | Key Player Siemens, Cisco, Hitachi, Schneid

Jonytoal25 Nov, 2021Business

The Remote Asset Management Market size is projected to grow from USD 16.5 billion in 2020 to USD 32.6 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period. The major factors driving the growth of the remote asset management market include the surge in the adoption of IoT-enabled remote asset management solutions to manage assets efficiency, decreasing cost of IoT-based sensors optimize asset life cycle through remote asset management solutions, and use of predictive maintenance to boost the adoption of remote asset management, thereby reducing operational costs of remote assets.