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System for Monitoring Power The market size is anticipated to increase between 2023 and 2030 at a CAGR of 7.44%. The goal of improving electrical infrastructure reliability is anticipated to dominate the global market.
Increased focus on energy cost reduction and maximising the reliability of electrical infrastructure are two main factors driving the global market for power monitoring systems. By guaranteeing efficient use of power resources in the household end-use industry, the power monitoring system serves as a home power monitoring system. For instance, end users have installed a power monitoring system in a sizable region that needs efficient energy, such as large residential complexes and smart cities. As a result, they have put in place power monitoring systems for managing power, billing data, verifying events, and running power plants.
Due to the increased emphasis on energy efficiency, the global market is anticipated to rise rapidly during the forecasted period.
As this equipment is permanently installed, a power monitoring system ensures an easy approach to automatically obtain and analyse power quality events. For end customers who can afford any form of electrical disturbances, a power monitoring system is essential. They use power monitoring devices to quickly locate and fix issues that arise on their electrical network. A power monitoring system can be installed by many end users because of its many benefits. These benefits include dependability, safety, upkeep, and financial gains. Consequently, the entire monitoring system serves as an electrical power monitoring system by assuring safety and dependability in the electrical network. A power monitoring system also includes several parts that are essential to the overall electrical network. Sense energy monitors, Sense power monitors, Sense power monitoring metres, and Sense power monitoring & control software are some of these components.
The Asia-Pacific, North America, Europe, the Middle East & Africa, and South America regions make up the majority of the global market for power monitoring systems. Due to increased attention being paid to upgrading ageing power infrastructure and boosting the installation of smart metres, North America dominated the power monitoring system market in terms of market share. In order to maintain the presence of AMI activity, few project announcements have been made, along with a few anticipated deployments by Consolidated Edison and Hawaiian Electric, according to the U.S. Department of Energy's Smart Grid Investment Grant Programme. Additionally, investments in smart metres, whose market is expected to reach nearly USD 9 billion by 2022. These elements are anticipated to propel the market for power monitoring systems in the area.
Based on components and end-use, the global power monitoring system is divided into sections. The global market encompasses hardware, software, and services as individual components. As hardware consists of numerous devices that are in charge of managing and monitoring various elements of the power monitoring system, hardware is anticipated to hold the highest proportion. The global market is divided into the manufacturing & process industry, data centre, public infrastructure, utilities & renewables, and others based on end-use. Due to rising investments in IT hubs, the data centre category is anticipated to develop at the greatest CAGR during the projection period.
Report Coverage
Global Power Monitoring System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power Monitoring System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power Monitoring System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power Monitoring System market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power Monitoring System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power Monitoring System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Eaton (Ireland), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Emerson (US), General Electric (US), Rockwell Automation (US), Omron (Japan), Yokogawa (Japan), Greystone Energy Systems (Canada), Littlefuse (US), Mitsubishi Electric (Japan), Fuji Electric (Japan), Etap- Operation Technology (US), Samsara (US), and Vacom Technologies (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Power Monitoring System market based on the below-mentioned segments:
Global Power Monitoring System Market, By Component
Hardware
Software
Services
Global Power Monitoring System Market, By End User
Utilities & Renewables
Data Center
Public Infrastructure
Manufacturing & Process Industry
others
Global Power Monitoring System market, Regional Analysis
Increased focus on energy cost reduction and maximising the reliability of electrical infrastructure are two main factors driving the global market for power monitoring systems. By guaranteeing efficient use of power resources in the household end-use industry, the power monitoring system serves as a home power monitoring system. For instance, end users have installed a power monitoring system in a sizable region that needs efficient energy, such as large residential complexes and smart cities. As a result, they have put in place power monitoring systems for managing power, billing data, verifying events, and running power plants.
Due to the increased emphasis on energy efficiency, the global market is anticipated to rise rapidly during the forecasted period.
As this equipment is permanently installed, a power monitoring system ensures an easy approach to automatically obtain and analyse power quality events. For end customers who can afford any form of electrical disturbances, a power monitoring system is essential. They use power monitoring devices to quickly locate and fix issues that arise on their electrical network. A power monitoring system can be installed by many end users because of its many benefits. These benefits include dependability, safety, upkeep, and financial gains. Consequently, the entire monitoring system serves as an electrical power monitoring system by assuring safety and dependability in the electrical network. A power monitoring system also includes several parts that are essential to the overall electrical network. Sense energy monitors, Sense power monitors, Sense power monitoring metres, and Sense power monitoring & control software are some of these components.
The Asia-Pacific, North America, Europe, the Middle East & Africa, and South America regions make up the majority of the global market for power monitoring systems. Due to increased attention being paid to upgrading ageing power infrastructure and boosting the installation of smart metres, North America dominated the power monitoring system market in terms of market share. In order to maintain the presence of AMI activity, few project announcements have been made, along with a few anticipated deployments by Consolidated Edison and Hawaiian Electric, according to the U.S. Department of Energy's Smart Grid Investment Grant Programme. Additionally, investments in smart metres, whose market is expected to reach nearly USD 9 billion by 2022. These elements are anticipated to propel the market for power monitoring systems in the area.
Based on components and end-use, the global power monitoring system is divided into sections. The global market encompasses hardware, software, and services as individual components. As hardware consists of numerous devices that are in charge of managing and monitoring various elements of the power monitoring system, hardware is anticipated to hold the highest proportion. The global market is divided into the manufacturing & process industry, data centre, public infrastructure, utilities & renewables, and others based on end-use. Due to rising investments in IT hubs, the data centre category is anticipated to develop at the greatest CAGR during the projection period.
Report Coverage
Global Power Monitoring System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power Monitoring System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power Monitoring System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power Monitoring System market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Eaton (Ireland), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Emerson (US), General Electric (US), Rockwell Automation (US), Omron (Japan), Yokogawa (Japan), Greystone Energy Systems (Canada), Littlefuse (US), Mitsubishi Electric (Japan), Fuji Electric (Japan), Etap- Operation Technology (US), Samsara (US), and Vacom Technologies (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Power Monitoring System Market from 2021 to 2030.
- Market Forecast for Power Monitoring System Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Power Monitoring System competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Power Monitoring System
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power Monitoring System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power Monitoring System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Eaton (Ireland), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Emerson (US), General Electric (US), Rockwell Automation (US), Omron (Japan), Yokogawa (Japan), Greystone Energy Systems (Canada), Littlefuse (US), Mitsubishi Electric (Japan), Fuji Electric (Japan), Etap- Operation Technology (US), Samsara (US), and Vacom Technologies (US)
Primary Target Market
- Market Players of Power Monitoring System
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Power Monitoring System market based on the below-mentioned segments:
Global Power Monitoring System Market, By Component
Hardware
Software
Services
Global Power Monitoring System Market, By End User
Utilities & Renewables
Data Center
Public Infrastructure
Manufacturing & Process Industry
others
Global Power Monitoring System market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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