The power monitoring market will reach 5.86 billion US dollars in 2028 | Emergen Research said that industry revenue growth is mainly driven by increased demand for energy efficiency and minimization of energy costs


Vancouver, British Columbia, June 7, 2021 (GLOBE NEWSWIRE) – According to the latest analysis by Emergen Research, the global power monitoring market is expected to reach USD 5.86 billion in 2028 and will remain stable for a compound year during the forecast period growth rate. The steady market revenue growth can be attributed to the government’s increasing upgrade of existing power infrastructure to improve energy efficiency in the commercial, industrial, and residential sectors. The US government’s Smart Grid Investment Grant (SGIG) program aims to accelerate the modernization of the US transmission and distribution system. The plan selects projects that receive federal financial assistance, up to 50% of the cost of eligible projects.

Through these projects, the Smart Grid Investment Grant (SGIG) program promotes investment in smart grid technologies, technologies, and tools, thereby improving functionality, flexibility, network security, interoperability, operational efficiency, and contextual efficiency. The increasing demand for improving system reliability and minimizing equipment failures, power peaks and downtime has driven the demand for power monitoring systems and electrical system performance tracking in the manufacturing and processing industries.

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The technological advancement of power monitoring equipment helps to effectively monitor the overall power consumption. The next-generation power monitoring system includes multi-level automatic meter reading (AMR), which monitors power quality and power consumption (PQ) through Wi-Fi connections and an intelligent monitoring system.

Some key highlights from the report

  • In March 2020, Schneider Electric announced the expansion of the PowerLogic ION9000 series of power meters through the PowerLogic ION9000T. The new ION9000T based on the PowerLogic platform adds a high-speed transient capture function to help key facilities avoid equipment damage, power outages, interruptions and operation failures.
  • The hardware sector has the largest revenue share in 2020. Manufacturers are increasingly investing in the production of more advanced power monitoring equipment to improve system reliability, which drives the demand for power monitoring equipment.
  • During the forecast period, the revenue of the manufacturing and processing industries is expected to grow at a rapid compound annual growth rate. The ability of power monitoring systems to identify and analyze power quality issues (such as voltage dips and harmonics) has led to the increasing use of it in manufacturing and processing industries.
  • North America will contribute the most to the global power monitoring market’s revenue share in 2020. In order to meet the growing demand for electricity, the manufacturing and processing industries in the region have increased their investment, using smart meters to meet the growing demand for electricity, which is driving the growth of the electricity monitoring market.
  • The major players in the market include Schneider Electric, ABB, Eaton, Siemens, General Electric, Emerson Electric, Rockwell Automation, Mitsubishi Electric, Omron and Yokogawa.

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Emergen Research will The global power monitoring market based on components, end-uses and regions:

  • Component outlook (revenue, billion US dollars; 2018-2028)
    • software
    • hardware
    • service
  • End-use outlook (revenue, billion U.S. dollars; 2018-2028)
    • data center
    • Utilities and renewable energy
    • Manufacturing and processing industry
    • Electric vehicle charging station
    • Public infrastructure

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  • Regional outlook (revenue, billion US dollars; 2018-2028)
    • North America
      1. we
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. United Kingdom
      4. Benelux Economic Union
      5. Italy
      6. Spain
      7. Ireland
      8. Rest of Europe
    • Asia-Pacific
      1. China
      2. Japan
      3. Korea
      4. India
      5. Rest of Asia Pacific
    • Latin America
      1. Brazil
      2. Rest of Latin America
    • Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Other MEA

About emerging research

Emergen Research is a market research and consulting company that provides joint research reports, customized research reports and consulting services. Our solutions are fully focused on your goals, namely, positioning, positioning and analyzing changes in consumer behavior across demographics and industries, and helping customers make more informed business decisions. We provide market intelligence research to ensure relevant and fact-based research across multiple industries, including healthcare, touchpoints, chemicals, types, and energy. We constantly update our research products to ensure that our customers understand the latest trends existing in the market. Emergen Research has a strong base of experienced analysts from different professional fields. Our industry experience and the ability to develop specific solutions to any research problem enable our customers to ensure an advantage over their competitors.

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