Circuit Monitoring Market
Circuit Monitoring Market Forecasts to 2028 - Global Analysis By Type (Modular Circuit Monitoring, Branch Circuit Monitors and Multi-Circuit Monitors), End User (Data Centers, Residential, Commercial, Industrial and Other End Users), and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $617.6 MN |
|
Projected Year Value (2028) |
US $911.3 MN |
|
CAGR (2022 - 2028) |
6.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Circuit Monitoring Market is accounted for $617.6 million in 2022 and is expected to reach $911.3 million by 2028 growing at a CAGR of 6.7% during the forecast period. The Circuit Monitoring System (CMS) is a multichannel measurement system for AC and DC branch monitoring that is incredibly small and high-performing. It offers a comprehensive method of keeping track of electrical parameters in distribution panels, enabling measurement of energy usage in buildings and other crucial power applications. One can keep an eye on and track the entire system with a reliable power monitoring system. Systemic power monitoring warns when peak capacity is likely to be reached, preventing demand charges. It saves a tonne of money by lowering energy use and monitoring the facility's equipment.
According to the Energy Information Administration (EIA), computers and related equipment were the major consumers of electricity in 2018. Other systems that used electricity in bulk were refrigeration, space cooling, ventilation, lighting, and space and water heating.
Market Dynamics:
Driver:
Requirement of electricity stability for continuous business operations
For economies and industries to function, electricity is a fundamental and essential requirement, but many places lack a reliable power distribution infrastructure. As power density in contemporary industrial and commercial applications rises, more attention would turn to enhancing the infrastructure for power distribution's efficiency. For effective power monitoring to boost efficiency, circuit monitoring units serve as the foundation. A similar power-intensive sector is the healthcare sector, which broadly encompasses hospitals and dispensaries. This is because vital applications like medical equipment, lighting and heating requirements, and computer operations all require electricity on a continuous basis which propels the growth of the market.
Restraint:
Improvements in energy monitoring systems declined the adoption of Circuit monitoring
Data centres, businesses, residential and commercial sectors, and other establishments all deploy energy management systems. This system has many advantages, including increased safety, higher production, better power quality, and more scalability. Circuit monitoring systems not only assist with monitoring but also, to a certain extent, with measuring the power quality. As a result, energy management systems are more advantageous and give more functions than circuit monitoring systems and as a result, end users in the commercial, data centre, residential, and industrial sectors generally are implementing them. The aforementioned is preventing more circuit monitoring systems from being used.
Opportunity:
Compliance with strict guidelines to lessen data centres' carbon footprint
Data centres generate a sizable amount of carbon emissions and are heavy users of water and electricity. By placing a ban on new data centre projects starting in 2019 and announcing a temporary halt to data centre development in the nation, the Infocomm Media Development Authority (IMDA) of the Singaporean government, for example, regulated the growth of data centres in that city-state. Data centres can minimise their energy use, carbon emissions, and environmental effect by employing circuit monitoring. This is crucial at a time when demand for data processing and storage is rising and data centres are playing a bigger role in the world's technological infrastructure.
Threat:
Disturbances in the supply chain
Circuit monitoring component manufacturers are forced to contend with fluctuating raw material prices and supply chain disruptions. Circuit monitoring systems have parts and components from China, the US, and Europe. In the coming years, the circuit monitoring industry may experience modest growth due to manufacturing interruptions in China and the US. The local currencies of various nations have declined as a result of the inflation and economic crisis, which has an impact on the purchasing prices of products that are often exchanged in US dollars. The mismatch between supply and demand causes losses for component and part makers.
Covid-19 Impact
After COVID-19, the market for raw materials experienced a bullwhip effect-recovery as a result of an abrupt increase in demand for components and raw materials brought on by significant stimulus injections and Federal Reserve actions. Component producers who had reduced their production owing to the epidemic were adversely affected by this. The war between Russia and Ukraine and COVID-19's reappearance in China have had a negative influence on raw material and energy costs, which have sharply risen.
The branch circuit monitoring segment is expected to be the largest during the forecast period
The branch circuit monitoring segment is estimated to have a lucrative growth; due to users can monitor branch circuits from a single place to track power consumption effectiveness (PUE). This comprises both IT and facilities equipment, down to the level of the specific branch circuit and the utility metre. The data centre manager can monitor each cabinet's branch circuit in real time to monitor total load versus available capacity. Sharing this data with the BMS enables better operational efficiency and energy savings while assisting in capacity planning.
The data centers segment is expected to have the highest CAGR during the forecast period
The data centers segment is anticipated to witness the highest CAGR growth during the forecast period, due to particular metrics in real time and sends alerts or notifications when measurements surpass or fall below predetermined limits. This gives insights into the health and status of data centres. DCIM software's business intelligence and analytics dashboards and reports may store, analyse, and show the data gathered from monitoring data centre to assist in making data-driven management decisions for data centre.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to increased expenditures in green power generation and the focus on smart city projects, there is an increasing demand for IoT devices to enhance the operation and monitoring of traffic lights, electrical grids, and other infrastructure. The increased demand for circuit protection solutions from electronic and telecommunications companies as a result of growing concerns surrounding equipment is also projected to drive the market rise.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the need for circuit protection products is predicted to rise as a result of the high energy consumption caused by rapid urbanisation and rising construction activity. Additionally, rising sales of electric vehicles in the area are anticipated to support market expansion.
Key players in the market
Some of the key players profiled in the Circuit Monitoring Market include Schneider Electric, Eaton, Legrand, Accuenergy, ABB, Senva Inc, CET Inc, Socomec, Packet Power, Anord Mardix, Daxten, Nlyte Software, Elmeasure, MPL Technology, Toshiba International Corporation, NHP, Omron, Bay Power Inc and Circuitmeter Inc
Key Developments:
In March 2023, Eaton and Sunverge expand strategic collaboration to help utilities manage residential EV charging infrastructure, bringing together Eaton’s innovative EV charging solutions with Sunverge’s advanced, intelligent, and holistic home energy management and real-time multi-service.
In December 2022, Schneider Electric launches AltivarTM Soft Starter ATS480 for the Indian market, the system drives the complete lifecycle of a motor from design, build, operate & maintain to achieve sustainability goals in your plant, Machines & Buildings.
Types Covered:
• Modular Circuit Monitoring
• Branch Circuit Monitors
• Multi-Circuit Monitors
End Users Covered:
• Data Centers
• Residential
• Commercial
• Industrial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliance
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Circuit Monitoring Market, By Type
5.1 Introduction
5.2 Modular Circuit Monitoring
5.3 Branch Circuit Monitors
5.4 Multi-Circuit Monitors
6 Global Circuit Monitoring Market, By End User
6.1 Introduction
6.2 Data Centers
6.3 Residential
6.4 Commercial
6.5 Industrial
6.6 Other End Users
7 Global Circuit Monitoring Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Schneider Electric
9.2 Eaton
9.3 Legrand
9.4 Accuenergy
9.5 ABB
9.6 Senva Inc
9.7 CET Inc
9.8 Socomec
9.9 Packet Power
9.10 Anord Mardix
9.11 Daxten
9.12 Nlyte Software
9.13 Elmeasure
9.14 MPL Technology
9.15 Toshiba International Corporation
9.16 NHP
9.17 Omron
9.18 Bay Power Inc
9.19 Circuitmeter Inc
List of Tables
1 Global Circuit Monitoring Market Outlook, By Region (2020-2028) ($MN)
2 Global Circuit Monitoring Market Outlook, By Type (2020-2028) ($MN)
3 Global Circuit Monitoring Market Outlook, By Modular Circuit Monitoring (2020-2028) ($MN)
4 Global Circuit Monitoring Market Outlook, By Branch Circuit Monitors (2020-2028) ($MN)
5 Global Circuit Monitoring Market Outlook, By Multi-Circuit Monitors (2020-2028) ($MN)
6 Global Circuit Monitoring Market Outlook, By End User (2020-2028) ($MN)
7 Global Circuit Monitoring Market Outlook, By Data Centers (2020-2028) ($MN)
8 Global Circuit Monitoring Market Outlook, By Residential (2020-2028) ($MN)
9 Global Circuit Monitoring Market Outlook, By Commercial (2020-2028) ($MN)
10 Global Circuit Monitoring Market Outlook, By Industrial (2020-2028) ($MN)
11 Global Circuit Monitoring Market Outlook, By Other End Users (2020-2028) ($MN)
12 North America Circuit Monitoring Market Outlook, By Country (2020-2028) ($MN)
13 North America Circuit Monitoring Market Outlook, By Type (2020-2028) ($MN)
14 North America Circuit Monitoring Market Outlook, By Modular Circuit Monitoring (2020-2028) ($MN)
15 North America Circuit Monitoring Market Outlook, By Branch Circuit Monitors (2020-2028) ($MN)
16 North America Circuit Monitoring Market Outlook, By Multi-Circuit Monitors (2020-2028) ($MN)
17 North America Circuit Monitoring Market Outlook, By End User (2020-2028) ($MN)
18 North America Circuit Monitoring Market Outlook, By Data Centers (2020-2028) ($MN)
19 North America Circuit Monitoring Market Outlook, By Residential (2020-2028) ($MN)
20 North America Circuit Monitoring Market Outlook, By Commercial (2020-2028) ($MN)
21 North America Circuit Monitoring Market Outlook, By Industrial (2020-2028) ($MN)
22 North America Circuit Monitoring Market Outlook, By Other End Users (2020-2028) ($MN)
23 Europe Circuit Monitoring Market Outlook, By Country (2020-2028) ($MN)
24 Europe Circuit Monitoring Market Outlook, By Type (2020-2028) ($MN)
25 Europe Circuit Monitoring Market Outlook, By Modular Circuit Monitoring (2020-2028) ($MN)
26 Europe Circuit Monitoring Market Outlook, By Branch Circuit Monitors (2020-2028) ($MN)
27 Europe Circuit Monitoring Market Outlook, By Multi-Circuit Monitors (2020-2028) ($MN)
28 Europe Circuit Monitoring Market Outlook, By End User (2020-2028) ($MN)
29 Europe Circuit Monitoring Market Outlook, By Data Centers (2020-2028) ($MN)
30 Europe Circuit Monitoring Market Outlook, By Residential (2020-2028) ($MN)
31 Europe Circuit Monitoring Market Outlook, By Commercial (2020-2028) ($MN)
32 Europe Circuit Monitoring Market Outlook, By Industrial (2020-2028) ($MN)
33 Europe Circuit Monitoring Market Outlook, By Other End Users (2020-2028) ($MN)
34 Asia Pacific Circuit Monitoring Market Outlook, By Country (2020-2028) ($MN)
35 Asia Pacific Circuit Monitoring Market Outlook, By Type (2020-2028) ($MN)
36 Asia Pacific Circuit Monitoring Market Outlook, By Modular Circuit Monitoring (2020-2028) ($MN)
37 Asia Pacific Circuit Monitoring Market Outlook, By Branch Circuit Monitors (2020-2028) ($MN)
38 Asia Pacific Circuit Monitoring Market Outlook, By Multi-Circuit Monitors (2020-2028) ($MN)
39 Asia Pacific Circuit Monitoring Market Outlook, By End User (2020-2028) ($MN)
40 Asia Pacific Circuit Monitoring Market Outlook, By Data Centers (2020-2028) ($MN)
41 Asia Pacific Circuit Monitoring Market Outlook, By Residential (2020-2028) ($MN)
42 Asia Pacific Circuit Monitoring Market Outlook, By Commercial (2020-2028) ($MN)
43 Asia Pacific Circuit Monitoring Market Outlook, By Industrial (2020-2028) ($MN)
44 Asia Pacific Circuit Monitoring Market Outlook, By Other End Users (2020-2028) ($MN)
45 South America Circuit Monitoring Market Outlook, By Country (2020-2028) ($MN)
46 South America Circuit Monitoring Market Outlook, By Type (2020-2028) ($MN)
47 South America Circuit Monitoring Market Outlook, By Modular Circuit Monitoring (2020-2028) ($MN)
48 South America Circuit Monitoring Market Outlook, By Branch Circuit Monitors (2020-2028) ($MN)
49 South America Circuit Monitoring Market Outlook, By Multi-Circuit Monitors (2020-2028) ($MN)
50 South America Circuit Monitoring Market Outlook, By End User (2020-2028) ($MN)
51 South America Circuit Monitoring Market Outlook, By Data Centers (2020-2028) ($MN)
52 South America Circuit Monitoring Market Outlook, By Residential (2020-2028) ($MN)
53 South America Circuit Monitoring Market Outlook, By Commercial (2020-2028) ($MN)
54 South America Circuit Monitoring Market Outlook, By Industrial (2020-2028) ($MN)
55 South America Circuit Monitoring Market Outlook, By Other End Users (2020-2028) ($MN)
56 Middle East & Africa Circuit Monitoring Market Outlook, By Country (2020-2028) ($MN)
57 Middle East & Africa Circuit Monitoring Market Outlook, By Type (2020-2028) ($MN)
58 Middle East & Africa Circuit Monitoring Market Outlook, By Modular Circuit Monitoring (2020-2028) ($MN)
59 Middle East & Africa Circuit Monitoring Market Outlook, By Branch Circuit Monitors (2020-2028) ($MN)
60 Middle East & Africa Circuit Monitoring Market Outlook, By Multi-Circuit Monitors (2020-2028) ($MN)
61 Middle East & Africa Circuit Monitoring Market Outlook, By End User (2020-2028) ($MN)
62 Middle East & Africa Circuit Monitoring Market Outlook, By Data Centers (2020-2028) ($MN)
63 Middle East & Africa Circuit Monitoring Market Outlook, By Residential (2020-2028) ($MN)
64 Middle East & Africa Circuit Monitoring Market Outlook, By Commercial (2020-2028) ($MN)
65 Middle East & Africa Circuit Monitoring Market Outlook, By Industrial (2020-2028) ($MN)
66 Middle East & Africa Circuit Monitoring Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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