The global power monitoring market size is expected to reach USD 5.86 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need to enhance energy efficiency and minimize energy costs. Emergence of advanced power monitoring system allow users to obtain detailed information regarding the amount of energy consumed. Manufacturing and process industries are increasingly adopting power monitoring systems to manage, analyze, and control energy usage. Power monitoring systems provide detailed information about the amount of energy consumed, which helps in identifying a wide range of ways to boost efficiency by minimizing waste and reducing rates of energy consumption.
The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2021-2028. Most importantly, the document empowers business owners to seek information about potential consumers and where they can find them. With an exclusive coverage of the top vendors, the study enables business owners to know more about the local market and locate potential consumers.
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The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Power Monitoring market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Some Key Highlights
- In February 2020, Eaton, which is a power management company, announced the complete acquisition of Power Distribution, Inc., which is a leading supplier of mission critical power distribution, power monitoring equipment, and services and static switching for data centers and commercial and industrial customers. The acquisition is expected help the company in enhancing services offered to data center customers.
- Hardware segment accounted for largest revenue share in 2020. Rising need to enhance energy efficiency and minimize energy costs is expected to drive revenue growth of the hardware components segment going ahead.
- Manufacturing & process industry segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing demand for secure, reliable, and uninterrupted supply of power among manufacturing and process industries is a key factor boosting demand for power monitoring systems.
The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.
Major Players/Manufacturers profiled in the report are:
Schneider Electric, ABB, Eaton Corporation plc, Siemens AG, General Electric, Emerson Electric Co., Rockwell Automation, Inc., Mitsubishi Electric, Omron Corporation, and Yokogawa Electric.
To know more about the report, visit @ https://www.emergenresearch.com/industry-report/power-monitoring-market
Emergen Research has segmented the global power monitoring market on the basis of component, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
- Software
- Hardware
- Services
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Datacenters
- Utilities & Renewables
- Manufacturing & Process Industry
- Electric Vehicle Charging stations
- Public Infrastructure
A closer look at the aspects including but not limited to market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report. In addition, in-depth analysis of critical factors such as spending capability, gross margin, business environment and profit for the forecast period 2021 – 2028 holds critical information and is based on curated facts and logical arguments. Importantly, validation of statistics recent acquisitions and mergers, collaborations and product launches serve as testimonials for stakeholders, field marketing personnel, product manufacturers and business evangelists on how a product will be positioned in the real world in years to come.
Major Regions Covered in the Power Monitoring Market Report:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Quick Buy—Power Monitoring Market Research Report At: https://www.emergenresearch.com/select-license/656
Key Reasons to Buy This Report:
- The report presents a thorough examination of the Power Monitoring market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
- The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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