Power Monitoring Market size was valued at US$ 4.37 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 5.6% from 2022 to 2029, reaching nearly US$ 6.40 Bn.
Power Monitoring Market Overview:
The purpose of this study is to provide a thorough examination of the Power Monitoring market by component, application, industry, and geography. The study goes into great detail on the primary factors influencing the Power Monitoring market's growth. The study also offers a comprehensive analysis of the market's value chain.
Market Scope:
The research method used to assess and anticipate the Power Monitoring market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segmentation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Power Monitoring market was calculated using the revenue of significant enterprises.
Segmentation:
By Component
Hardware, software, and services make up the three market segments. By 2029, the hardware segment is anticipated to have the biggest market share. This is because there are more government regulations to install smart metres in order to reduce carbon emissions, investments in the technology globally, and measures to expand the use of smart grids.
By End-user
Manufacturing & Process Industry, Datacenters, Public Infrastructure, Utilities & Renewables, and Electric Vehicle Charging Station make up the market segments. The end-user segment for datacenters is anticipated to expand quickly between 2023 and 2029, at a CAGR of. Due to increased IT hub spending and a rise in demand for monitoring the data center's electrical power distribution infrastructure, the market for datacenters is expanding at the quickest rate.
1 Global Power Monitoring Market, by Component (2022-2029)
• Hardware
• Software
• Services
2 Global Power Monitoring Market, by End-user (2022-2029)
• Manufacturing & Process Industry
• Datacenters
• Public Infrastructure
• Utilities & Renewables
• Electric Vehicle Charging Station
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Key Players:
The major players covered in the Power Monitoring market report are
1. Schneider Electric
2. ABB
3. Eaton
4. Siemens
5. General Electric
6. Emerson
7. Rockwell Automation
8. Mitsubishi Electric
9. Omron
10. Fluke Corporation
11. Fuji Electric FA Components & Systems Co., Ltd.
12. Littelfuse Inc.
13. Yokogawa Electric Corporation
14. Albireo Energy, LLC
15. GE Grid Solutions
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Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Power Monitoring Market:
Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 epidemic. COVID-19 has had an impact on the Power Monitoring market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spreads. Our most recent inquiry, opinions, and bits of knowledge on administration are critical to the businesses and associations in the Power Monitoring industry, which is driving through the COVID-19 emergency to handle risk digitising jobs in order to convey trusted data and experiences to the CEOs.
Key Questions Answered in the Power Monitoring Market Report are:
- Which segment grabbed the largest share in the Power Monitoring market?
- How was the competitive scenario of the Power Monitoring market in 2020?
- Which are the key factors responsible for the Power Monitoring market growth?
- Which region held the maximum share in the Power Monitoring market in 2020?
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