Power Monitoring Market Growth and Regional Forecast 2023

The Power Monitoring market size will grow from USD 3.49 Billion in 2017 to USD 4.88 Billion by 2023, at an estimated CAGR of 5.72%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.

This growth is attributed to the efficient utilization of power resources, increasing electricity prices, and maximizing reliability of electrical infrastructure. The increasing requirement of reliable power supply and replacement of existing infrastructure would also boost the demand for power monitoring systems. The power monitoring market is segmented by component into hardware, software, and services. The hardware segment accounted for the largest market size in 2017 due to the increasing deployment of smart meters and standard meters globally. The hardware segment is expected to grow at the highest CAGR from 2018 to 2023, owing to increasing smart grid investments and energy efficiency targets globally. The hardware segment is further sub-segmented into metering and communication and measurement devices. The metering and communication devices segment is projected to dominate the hardware market and is expected to grow at the fastest rate during the forecast period. This growth is attributed to smart meter roll out plans and increasing demand for reliable power supply globally.

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The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.

Segments of Global Market:
· By Market Players: ABB Ltd , Eaton Corporation PLC , Emerson Electric Co. , Fluke Corporation , Fuji Electric FA Components & Systems Co., Ltd. , General Electric Company , Littelfuse, Inc. , Mitsubishi Electric Corporation , Omron Corporation , Rockwell Automation, Inc. , Schneider Electric SE , Siemens AG , Yokogawa Electric Corporation
· By Component: Hardware , Software , Services, ,
· By End-User: Manufacturing and Process Industry , Datacenters , Utilites and Renewables , Public Infrastructure , Electric Vehicles Charging Stations

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· The growth factors of the market is discussed in detail wherein the different end users of the market are explained in detail.
· Data and information by manufacturer, by region, by type, by application and etc, and custom research can be added according to specific requirements.
· The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

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