Power Monitoring Market

Power Monitoring - Global Market Outlook (2018-2027)

4.8 (31 reviews)
Published: January 2020 ID: SMRC18749
4.8 (31 reviews)
Published: January 2020 ID: SMRC18749

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Power Monitoring Market is accounted for $3.56 billion in 2018 and is expected to reach $6.60 billion by 2027 growing at a CAGR of 7.1%. Rising focus on effective utilization of power resources, increasing attention to reducing energy cost. However, higher costs of high-end monitoring devices are likely to hamper the profit boundaries.

Power monitoring is a network of meters connected to a power system in order to provide real-time data. All electrical equipment in a facility are connected to meters. Power monitoring system performs  several functions such as increase facility uptime, improve response to power related issues, verify reliable power equipment operation,  improve power quality, enhance the lifespan of highly advanced equipment,  prevent conductors from overheating, protect and control the network, reduce peak demand power factor penalties,  and ensure energy contract compliance. It allows to create a proactive approach to energy management.  Effective use of power monitoring system depends on selecting correct meters to capture data and events and using the right software to visualize and conduct analysis.

Based on the end user, the hardware segment is projected to the largest market share. This is because of its increasing number of smart grid deployment projects, increasing smart grid investments globally, and government regulations to install smart meters to reduce carbon emissions. By geography, North America is estimated to be the largest market. This is because a power monitoring system is expected to play a significant role in upgrading the aging power infrastructure in the region. The US has seen a rising demand for power monitoring systems due to an increase in investments in smart meters to enhance the intelligent infrastructure across the country.

Some of the key players in the Power Monitoring Market include ABB, Accuenergy, Albireo Energy, Eaton, Emerson, Fluke Corporation, Fuji Electric Fa Components & Systems, General Electric, Littelfuse , Mitsubishi Electric, Omron, Rockwell Automation, Samsara, Siemens, Veris Industries and Yokogawa 
Components Covered:

• Software
• Services
• Hardware

End Users Covered:
• Utilities & Renewables
• Public Infrastructure
• Manufacturing & Process Industry
• Electric Vehicle Charging Station
• Data Center
• Others 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 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 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- 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

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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 clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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