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The remote monitoring systems market is expected to witness a healthy CAGR during the forecast period. Major factors, such as rising incidences of fire, complex electrical issues, plant operational failure, higher production cost, has created demand for mobile-based monitoring devices, and ease of use and portability of devices, are likely to promote the growth of the market studied. However, factors, such as resistance from the industry professionals toward the adoption of various physical parameter monitoring systems in developing regions, stringent regulatory framework, and high cost of technology, are a few factors impeding the growth of the market studied.
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