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Remote monitoring segment to grow with the highest CAGR during the forecast period

The remote monitoring segment is expected to register the highest growth rate during the forecast period. Remote monitoring involves collecting data from assets and using these data to trigger automatic alerts and actions, such as remote diagnostics, maintenance requests, and other operational processes. By using IoT, assets located anywhere can be monitored.

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There are some benefits that manual monitoring or traditional monitoring systems using older connections (such as serial or POTS) cannot offer. Thats where IoT monitoring systems come in. The key advantages of these systems are less costs, data collection, enhanced efficiency of monitoring processes, and proactive maintenance.