Power Monitoring Market is expected to reach USD XX Million by 2026 from USD 469.40 Million in 2018 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report). Power monitoring systems are used to measure electrical energy or power and other parameters for any feeder of an Electrical distribution network such as an industry can monitor grid feeder, all generators, and all electrical loads simultaneously in real-time. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. Some of the benefits of power monitoring systems are: • With an advanced power monitoring system inefficiencies of the systems can find out • With these identified inefficiencies it can be possible to design and implement energy savings programs • Power monitoring systems allow a user to understand the current status of any critical power components. The power monitoring market is based on a component has been segmented into hardware, software, and services. The hardware segment formed one of the largest contributors and is expected to hold the largest market share for the power monitoring market. There is increasing deployment of smart meters and standard meters and increasing demand for reliable power supply globally. Geographically, the market has been segmented into Asia-Pacific, North America, Europe, Middle-East & Africa, and Latin America. North America is expected to be one of the largest markets for power monitoring systems due to large investments in smart grids. Asia Pacific (APAC) is expected to growing market followed by North America. The growth is attributed to increasing industries and increasing renewable power generation capacity across countries like India, China and Japan are further driving the market. Key Highlights: • Power Monitoring market analysis and forecast, in terms of value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Power Monitoring market. • Power Monitoring market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided. • Power Monitoring market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of the study. • Power Monitoring market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Power Monitoring market are also profiled. Research Methodology Bloomberg, Factiva and Hoovers are some of the sites that are being referred to gain insights about the Power Monitoring market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Power Monitoring market globally.
Some of the key players operating in the power monitoring market include
• ABB Ltd (Switzerland) • Emerson Electric Co. (US) • Eaton Corporation PLC (Ireland) • Fluke Corporation (US) • General Electric Company (US) • Fuji Electric FA Components & Systems Co., Ltd. (Japan) • Littelfuse, Inc. (US) • OMRON Corporation (Japan) • Mitsubishi Electric Corporation (Japan) • Schneider Electric SE (France) • Siemens AG (Germany) Key Target Audience: • Communication network providers • Power monitoring system manufacturers and suppliers • Consulting companies in the power sector • Power monitoring software providers • Standard and smart meter manufacturers and suppliers • Manufacturing and process industries • Public and private utilities • Government and power research organizations Years considered to estimate the market size of the Power Monitoring market have been mentioned below: • Base year-2018 • Estimated year-2019 • Forecast year- 2019 to 2026