The global market for Power Monitoring is estimated at US$3.1 Billion in 2023 and is projected to reach US$4.5 Billion by 2030, growing at a CAGR of 5.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the power monitoring market is driven by several factors that underscore the increasing importance of energy efficiency and reliability. Firstly, the rising energy costs and the need for cost-effective energy management solutions propel the demand for power monitoring systems. Organizations are increasingly looking to reduce their energy expenses by identifying and eliminating inefficiencies through continuous monitoring. Secondly, the growing emphasis on sustainability and environmental regulations drives the adoption of power monitoring solutions that help in reducing carbon footprints and ensuring compliance with energy standards.
Technological advancements, particularly in IoT, big data analytics, and cloud computing, are also significant growth drivers, as they enhance the functionality and accessibility of power monitoring systems. Additionally, the increasing complexity of modern electrical systems, driven by the integration of renewable energy sources and advanced manufacturing processes, necessitates the use of sophisticated monitoring solutions to ensure system reliability and efficiency. Lastly, the rise of smart cities and smart infrastructure projects globally is boosting the demand for power monitoring systems that support intelligent energy management and contribute to the overall efficiency and sustainability of urban environments.
The growth in the power monitoring market is driven by several factors that underscore the increasing importance of energy efficiency and reliability. Firstly, the rising energy costs and the need for cost-effective energy management solutions propel the demand for power monitoring systems. Organizations are increasingly looking to reduce their energy expenses by identifying and eliminating inefficiencies through continuous monitoring. Secondly, the growing emphasis on sustainability and environmental regulations drives the adoption of power monitoring solutions that help in reducing carbon footprints and ensuring compliance with energy standards.
Technological advancements, particularly in IoT, big data analytics, and cloud computing, are also significant growth drivers, as they enhance the functionality and accessibility of power monitoring systems. Additionally, the increasing complexity of modern electrical systems, driven by the integration of renewable energy sources and advanced manufacturing processes, necessitates the use of sophisticated monitoring solutions to ensure system reliability and efficiency. Lastly, the rise of smart cities and smart infrastructure projects globally is boosting the demand for power monitoring systems that support intelligent energy management and contribute to the overall efficiency and sustainability of urban environments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Power Monitoring Hardware segment, which is expected to reach US$2.7 Billion by 2030 with a CAGR of a 5.7%. The Power Monitoring Software segment is also set to grow at 4.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $960.8 Million in 2023, and China, forecasted to grow at an impressive 7.3% CAGR to reach $536.1 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Power Monitoring Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Power Monitoring Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Power Monitoring Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Ltd., Eaton Corporation PLC, Analog Devices, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 66 Featured):
- ABB Ltd.
- Eaton Corporation PLC
- Analog Devices, Inc.
- Advantech Co., Ltd.
- Delta Electronics, Inc.
- EXFO, Inc.
- Fluke Corporation
- ETAP
- Eaton Industries GmbH
- Aveva Group PLC
- ElMeasure India Pvt., Ltd.
- Albireo Energy LLC
- eGauge Systems LLC
- Accuenergy Canada Inc.
- Atandra Energy Private Limited
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
- ABB Ltd.
- Eaton Corporation PLC
- Analog Devices, Inc.
- Advantech Co., Ltd.
- Delta Electronics, Inc.
- EXFO, Inc.
- Fluke Corporation
- ETAP
- Eaton Industries GmbH
- Aveva Group PLC
- ElMeasure India Pvt., Ltd.
- Albireo Energy LLC
- eGauge Systems LLC
- Accuenergy Canada Inc.
- Atandra Energy Private Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 617 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 3.1 Billion |
| Forecasted Market Value ( USD | $ 4.5 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
