The latest Power Monitoring market research report is a compilation of the latest growth trends and the emerging market segments. The report adeptly draws reader’s attention to the ever-changing patterns of the Power Monitoring industry and its prominent facets, infrastructural properties, and highly dynamic environment. The report lists down some critically important parameters that help the market bolster its global foothold and contribute substantially to future revenue generation. Our team of experts has included specific details related to the Power Monitoring industry, such as product offerings, sales and revenue estimates, leading regions, key market contenders, and technological upgradation in the report.
The global power monitoring market size is expected to reach USD 5.86 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need to enhance energy efficiency and minimize energy costs. Emergence of advanced power monitoring system allow users to obtain detailed information regarding the amount of energy consumed. Manufacturing and process industries are increasingly adopting power monitoring systems to manage, analyze, and control energy usage. Power monitoring systems provide detailed information about the amount of energy consumed, which helps in identifying a wide range of ways to boost efficiency by minimizing waste and reducing rates of energy consumption.
These factors are expected to drive demand for power monitoring systems during the forecast period. Incentives and rebates offered by utility companies are also encouraging consumers to decrease energy usage, which is resulting in increasing utilization of power monitoring systems. Incentives and rebates available for retrofitting existing buildings, such as high-efficiency motors and energy efficient lighting, is also expected to drive growth of the power monitoring market to a significant extent over the forecast period.
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The report by Emergen Research, titled ‘Global Power Monitoring Market,’ studies a wide spectrum of factors impacting the performance of the Power Monitoring market. The report includes a historical analysis of the market from 2017 to 2018 to provide the reader with a deep understanding of the current market scenario. Moreover, it offers accurate market estimations for the forecast period (2019-2028).
The report is the latest document encompassing the profound changes in the market dynamics and trends that followed the COVID-19 outbreak. The global health crisis has led to massive changes in the global economic scenario and, particularly, this business sphere. The pandemic has drastically affected the Power Monitoring market with disruptions to supply chains and volatility in prices and demands. The remarkable impact of the pandemic on the Power Monitoring industry and its crucial segments has been depicted in the report. However, the market is expected to regain momentum in the post-COVID scenario, as per market experts.
The research offers an in-depth survey about the performance of each key player in the Power Monitoring market. It provides information about their current advancements and key market strategies. The Power Monitoring report also aims to provide additional information about suppliers, buyers, and manufacturers. The study offers a comprehensive analysis of market share, consumption, growth rate, and product type, and application growth. It further offers comprehensive coverage of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, and partnerships, among others. The company profiles of the established and new players have also been assessed in the Power Monitoring report through effective analytical tools like SWOT analysis.
Top key Companies in Power Monitoring Market are:
Schneider Electric, ABB, Eaton Corporation plc, Siemens AG, General Electric, Emerson Electric Co., Rockwell Automation, Inc., Mitsubishi Electric, Omron Corporation, and Yokogawa Electric.
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Some Key Highlights From the Report
- In February 2020, Eaton, which is a power management company, announced the complete acquisition of Power Distribution, Inc., which is a leading supplier of mission critical power distribution, power monitoring equipment, and services and static switching for data centers and commercial and industrial customers. The acquisition is expected help the company in enhancing services offered to data center customers.
- Hardware segment accounted for largest revenue share in 2020. Rising need to enhance energy efficiency and minimize energy costs is expected to drive revenue growth of the hardware components segment going ahead.
- Manufacturing & process industry segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing demand for secure, reliable, and uninterrupted supply of power among manufacturing and process industries is a key factor boosting demand for power monitoring systems.
- North America accounted for largest revenue share contribution to the global power monitoring market in 2020. Increasing initiatives by governments in upgradation of existing power infrastructure to enhance energy efficiency is expected to drive growth of the power monitoring market in the region during the forecast period.
The report further segments the Power Monitoring market on the basis of product types and application spectrum offered in the market. The report also offers insights into the segment expected to show significant growth over the projected period. The study focuses on the growth rate of every segment and is explained through detailed graphs, figures, charts, and tables. These segments are analysed on the basis of present, emerging, and future trends. The regional segmentation provides current and forecast demand estimation for the Power Monitoring industry in key regions.
Emergen Research has segmented the global power monitoring market on the basis of component, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Utilities & Renewables
- Manufacturing & Process Industry
- Electric Vehicle Charging stations
- Public Infrastructure
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The report gives a comprehensive analysis of the Power Monitoring market at the global and regional level, and the forecast has been presented in terms of value and price for the period of 8 years from 2020-2027. The report covers an extensive study of the market drivers and restraints on the global scale and provides an impact analysis of those market drivers and restraints on the demand and supply ratio for the Power Monitoring market throughout the forecast period.
The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The Global Power Monitoring Market is formulated through extensive primary and secondary research, which is further validated and verified by industry experts and professionals. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. Moreover, the report also offers a feasibility study and investment return analysis to assist the readers in making strategic investment plans.
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Key takeaways of the Global Power Monitoring Market report:
- The report sheds light on the fundamental Power Monitoring market drivers, restraints, opportunities, threats, and challenges.
- It elaborates on the new, promising arenas in the leading Power Monitoring market regions.
- It examines the latest research & development projects and technological innovations taking place in the key regional segments.
- The research report reviews the regulatory framework for creating new opportunities in various regions of the Power Monitoring market
- It focuses on the new revenue streams for the players in the emerging Power Monitoring markets.
- Furthermore, the report offers vital details about the rising revenue shares and the sizes of the key product segments.
Overview of the TOC of the Report:
- Introduction, Scope, and Overview
- Opportunities, Risks, and Drivers
- Competition landscape analysis with sales, revenue, and price
- Extensive Profiling of the Power Monitoring key competitors with the sales figures, revenue, and market share
- Regional analysis with sales, revenue, and market share for each region for the forecast period
- Country-wise analysis of the Power Monitoring market by type, application, and manufacturers
- Power Monitoring Market Segmentation based on types
- Power Monitoring Market segmentation based on applications
- Historical and forecast estimation
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