Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the power monitoring market provides an in-depth analysis
of segments and sub-segments in the global as well as regional power monitoring
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional power monitoring market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global power monitoring market. According
to the report, the global power monitoring market is projected to grow at a
CAGR of 6.00% over the forecast period of 2021-2027.
The global power monitoring market is expected to grow from USD 4.23 billion in 2021 to USD 6.01 billion by 2027,
at a CAGR of 6.00% during the forecast period. Energy Power Monitoring offers
control capabilities that can help reduce energy-related costs. A Power
Monitoring measures power consumption in order to support energy-saving
activities. The purpose of environmental protection has been added to the
energy saving activities to reduce the cost of electricity rates. Moreover,
currently, it is necessary to produce products while conducting energy saving
activities and also enhancing productivity and quality. Attaining these
purposes requires measurement devices that can be used to easily check power
consumption and help save energy. A wide range of monitoring and control
features such as start-stop control, power interruption and restoration
features, and the electric power demand monitoring function is included, in the
optimum operation of their equipment
Increasing demand from major
end-use industries such as datacenter, electric vehicle charging stations,
utilities & renewables, manufacturing & process industry, & public
infrastructure is driving the growth of the market. The advantage of this
technology is the increasing broadband connectivity and the ability to utilize
this technology in regular businesses. Furthermore, increasing adoption of smart
grid technology where power monitoring becomes an essential part of the overall
system. This is driving the growth of the market. In addition, increasing
urbanization and industrialization, rising need for maximizing the reliability
of electrical infrastructure, increasing focus to reduce energy cost, and
growing need for efficient utilization of power resources is attributing to the
growth of the market. Moreover, governments across the globe have enacted
several supportive policies to increase emphasis on effective power resource
usage, cost reduction, and electrical infrastructure reliability. This will
provide a significant growth opportunity for the market. However, the rising cost
of high-end monitoring devices is affecting the growth of the market.
North America dominates the power
monitoring market. This is because a power monitoring system is anticipated to
play a significant role in upgrading the aging power infrastructure in North America. The US has seen a rising demand for power monitoring systems
owing to an increase in investments in smart meters to enhance the intelligent
infrastructure across the country. Asia Pacific is growing with a healthy CAGR.
Emerging economies like China and India are expected to register major demand
during the forecast period. Furthermore, the increasing installation of power
monitoring systems dominates the market in countries such as China, Japan,
South Korea, and India.
The report on the global power
monitoring market covers segments such as component, and end user. On the basis
of component, the sub-markets include software, hardware, and services. On the
basis of end user, the sub-markets include datacenters, utilities and
renewable, manufacturing and process industry, and public infrastructure.
The report provides profiles of
the companies in the market such as Mitsubishi Electric Corporation, Emerson
Electric Co, Yokogawa Electric Corporation, General Electric Company, Fluke
Corporation, Eaton Corporation PLC, Omron Corporation, Schneider Electric SE,
and Fuji Electric FA Components and Systems Co., Ltd..
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the power monitoring market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.