Power Monitoring Market – Global Industry Analysis, Size, Share, Trends and Forecast 2021 – 2027

Power Monitoring Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of power monitoring market by by component (software, hardware, and services), end user (datacenters, utilities and renewable, manufacturing and process industry, and public infrastructure) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the power monitoring market it includes the five years Industry analysis and the 6 years annual forecast from 2020 to 2026.

Some of the prominent participants in the global power monitoring market are 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 global power monitoring market is projected to grow at a CAGR of 6.00% over the forecast period of 2021-2027.

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Power Monitoring Market: Drivers, Restrain and Opportunities

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.

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North America Dominates the Power Monitoring 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.

Power Monitoring Market: Segmentation

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.

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the power monitoring.

=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company. 

 => Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.