Power Monitoring Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The power monitoring involves a network of meters connected to the internet to provide real-time data on the power systems. As the developed and developing regions are rapidly adopting smart grid technologies, the market for power monitoring is expected to surge in the coming years. Moreover, investments in the IT hubs and data centers, in particular, are significantly contributing to the market growth. The key vendors of the power monitoring market are focusing on organic growth strategies such as the development of new products to increase their global market share.

MARKET DYNAMICS

The power monitoring market is anticipated to grow in the forecast period owing to driving factors such as developments in the field of smart technology and growing focus towards reducing energy costs. Besides, a sharp focus on the effective utilization of power resources is further likely to promote market growth. High costs associated with high-end monitoring devices is a restraining factor for the power monitoring market. However, industrial developments and smart grid adoption are likely to provide growth opportunities to the players active in the power monitoring market during the forecast period.

MARKET SCOPE

The "Global Power Monitoring Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of power monitoring market with detailed market segmentation by component, end user, and geography. The global power monitoring market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading power monitoring market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global power monitoring market is segmented on the basis of component and end user. Based on component, the market is segmented as hardware, software, and services. The market on the basis of the end user is classified as manufacturing industry, process industry, data centers, utilities and renewables, electric vehicle charging stations, and public infrastructure.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global power monitoring market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The power monitoring market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting power monitoring market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the power monitoring market in these regions.

MARKET PLAYERS

The reports cover key developments in the power monitoring market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from power monitoring market are anticipated to lucrative growth opportunities in the future with the rising demand for power monitoring in the global market. Below mentioned is the list of few companies engaged in the power monitoring market.

The report also includes the profiles of key power monitoring companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

- ABB Ltd.

- Eaton Corporation

- Emerson Electric Co.

- General Electric Company

- Mitsubishi Electric Corporation

- OMRON Corporation

- Rockwell Automation, Inc.

- Schneider Electric

- Siemens AG

- Yokogawa Electric Corporation

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Power Monitoring Report Scope