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Allied Market Research

Power Monitoring Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A09029
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Aug 2021 | 264 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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A power monitoring system is a collection of meters, which are connected through the internet connection to offer real-time information over the power system. These meters are equipped with a software system that allows service providers as well as owners to recognize potential issues with electronic systems.

Power monitoring system performs various functions such as increase facility uptime, improve response to power related issues, improve power quality, enhance the lifespan of highly advanced equipment, verify reliable power equipment operation,   prevent conductors from overheating, protect & control the network, reduce peak demand power factor penalties,  and ensure energy contract compliance. Thus, a properly configured & installed energy monitoring system is a precious asset to many energy consumers.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Component, Industry Vertical, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

Major players analyzed include Emerson, Rockwell Automation, Mitsubishi Electric, Omron, Yokogawa, Schneider Electric, ABB, Eaton, Siemens, General Electric.

 

COVID-19 impact

  • The global market for power monitoring is severely impacted by the outbreak of the COVID-19 pandemic. 
  • The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. 
  • Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
  • Thus, insufficiency in raw material supply is expected to hamper the production rate of power monitoring devices, which negatively impact the market growth.
  • However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities..

Top impacting factors: market scenario analysis, trends, and drivers 

The power monitoring market is driven by factors such as the need to control the price of electricity, the need for efficient utilization of power resources and maximize the reliability of electrical infrastructure. Replacement of exciting power systems also boost the power monitoring market.  Increasing the adoption of smart grid technologies and a growing focus on industrial developments has led to a rise in the implementation of power monitoring systems and is anticipated to create lucrative opportunities for revenue generation in the forecasted period.

Datacenter is one of the end-user segment of power monitoring market and is the fastest growing market because of the increasing investments in the IT hubs as well as an increase in the need for monitoring of the electrical power distribution infrastructure of the data center facility.

Regional analysis

The Global power monitoring market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. North America region is expected to be the largest market over the coming years in response to the aging transmission and distribution infrastructure and smart grid investment in the region. In addition to this is further expected to complement the growth of this region. Besides this, Asia-Pacific is expected to register significant growth due to rapid urbanization and industrialization and rise in renewable power generation capacity in the region. Furthermore, in Middle East & Africa, investments in the water and wastewater industry and infrastructural development are anticipated to boost the power monitoring market in the region.

Key segments covered:

Segments

Subsegments

  Component

  • Hardware
  • Metering & Communication Devices
  • Measurement Devices
  • Software
  • Services

  Industry Vertical

  • Manufacturing & Process Industry
  • Datacenters
  • Public Infrastructure
  • Utilities & Renewables
  • Electric Vehicle Charging Station

 

Key benefits of the report:

  • This study presents the analytical depiction of the global power monitoring market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global power monitoring market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global power monitoring market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global power monitoring market analysis depending on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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