Global Electrical Power Monitoring System (EPMS) Market Research Report 2024(Status and Outlook)

Global Electrical Power Monitoring System (EPMS) Market Research Report 2024(Status and Outlook)

Report Overview

An Electrical Power Monitoring System (EPMS) is a comprehensive solution designed to monitor, analyze, and manage electrical power distribution within industrial, commercial, and institutional facilities. It consists of hardware, software, and sensors that collect real-time data on electrical parameters such as voltage, current, power factor, energy consumption, and electrical faults. EPMS provides users with actionable insights into the performance, efficiency, and reliability of electrical systems, enabling proactive maintenance, energy conservation, and optimization of power usage.

The Electrical Power Monitoring System (EPMS) market is experiencing several key trends. Integration of IoT and smart grids enhances efficiency and reliability by enabling real-time data collection and analysis, optimizing electricity distribution and consumption. Global electricity consumption has tripled since 1980, driving the need for efficient EPMS solutions to manage increased load and ensure reliable supply. Adoption of cloud-based solutions, AI, and machine learning is on the rise, offering predictive analytics and enhanced cybersecurity. The shift towards renewable energy sources necessitates advanced EPMS for effective monitoring and management. Emerging industries like data centers and 5G networks require sophisticated EPMS for efficient energy use. China's rapid economic growth and high electricity consumption underscore the need for advanced EPMS to support sustainable energy management and infrastructure development.

The global Electrical Power Monitoring System (EPMS) market size is projected to reach US$ 6,929.53 Million by 2030 from US$ 4,600.70 million in 2023 at a CAGR of 6.14% during 2024-2030. The Electrical Power Monitoring System (EPMS) market is driven by several key factors. Global grid modernization initiatives emphasize the importance of advanced monitoring solutions, with EPMS ensuring grid reliability and stability through real-time performance insights. Technological advancements in EPMS introduce sophisticated sensors, analytics tools, and user-friendly interfaces, enhancing system functionality and ease of implementation. The expansion of renewable energy sources like solar and wind power necessitates precise EPMS solutions for optimal integration and management, meeting environmental targets and reducing fossil fuel dependency. Increasing global energy consumption due to industrialization, urbanization, and population growth highlights the need for efficient energy management systems. EPMS solutions enable real-time monitoring and optimization of power usage, driving market growth as industries seek sustainable and cost-effective energy solutions.

At the same time, the EPMS market faces challenges including data security and privacy concerns, and difficulties integrating with legacy systems, necessitating robust cybersecurity measures and flexible, interoperable solutions.

Segment by Type, the Electrical Power Monitoring System (EPMS) can be split into Hardware Components, Software Applications, etc. In 2023, the global Electrical Power Monitoring System (EPMS) market was valued at USD 4,600.70 million, with hardware dominating the market, holding an 83.44% share, and software accounting for 16.56%. The hardware segment, while the largest, is expected to grow at a CAGR of 5.52% from 2024 to 2030, reaching USD 5,540.26 million. In contrast, the software segment, although smaller, is projected to experience the fastest growth, with a CAGR of 8.89%, increasing from USD 833.49 million in 2024 to USD 1,389.27 million by 2030. This rapid growth in the software segment highlights the increasing demand for advanced analytics and user-friendly interfaces in EPMS solutions.

Segment by Application, the Electrical Power Monitoring System (EPMS) market can be split into Industrial, Residential, Commercial, etc. In 2023, the global Electrical Power Monitoring System (EPMS) market reached USD 4,600.70 million, with the residential sector holding the largest market share at 49.18%. The industrial sector followed with a 33.82% share, while the commercial and other sectors accounted for 10.50% and 6.49%, respectively. The residential sector is expected to maintain its lead, growing at a CAGR of 6.32% from 2024 to 2030, reaching USD 3,448.34 million. However, the ""Others"" category, though smaller in size, is projected to have the fastest growth, with a CAGR of 6.99%, increasing from USD 316.02 million in 2024 to USD 474.06 million by 2030. This indicates a rising demand for EPMS solutions in diverse and emerging applications beyond traditional industrial, residential, and commercial uses.

On basis of geography, the Electrical Power Monitoring System (EPMS) market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa, etc. Among the regions, Asia-Pacific holds the largest market share in 2023, accounting for 35.07% of the total market revenue. This dominance is attributed to the region's rapid industrialization, urbanization, and increasing energy consumption, especially in countries like China and India. Furthermore, the Asia-Pacific region is expected to exhibit the fastest growth, with a CAGR of 8.84% from 2024 to 2030. This rapid growth is driven by ongoing infrastructure development, the expansion of data centers, and the implementation of smart grid technologies. Europe, holding the second-largest market share at 27.93% in 2023, is also a significant player in the EPMS market. The region is projected to grow at a steady CAGR of 4.38% from 2024 to 2030, supported by stringent regulatory policies promoting energy efficiency and the integration of renewable energy sources.

According to our calculations, the two indicators used to measure market concentration, CR5 and HHI, have reached 35.02% and 2.83% respectively in 2023. This means that leading companies occupy a significant market share, but the overall market concentration is not high, and companies in the industry are still in competitive competition. Currently, major players in the Electrical Power Monitoring System (EPMS) market include Siemens, Schneider Electric, Eaton Corporation, OMICRON Electronics, Socomec, Fluke Corporation, Emerson, Mitsubishi Power, Rockwell Automation, ABB Ltd., General Electric (GE), Fuji Electric, Panasonic, Acrel Co., Ltd, Rittal GmbH & Co. KG, Honeywell International Inc., Toshiba Corporation, Delta Electronics, Inc., Legrand, Omron Corporation, Yokogawa, Gossen Metrawatt GmbH, and others.

This report provides a deep insight into the global Electrical Power Monitoring System (EPMS) market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Electrical Power Monitoring System (EPMS) Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Electrical Power Monitoring System (EPMS) market in any manner.

Global Electrical Power Monitoring System (EPMS) Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Siemens

Schneider Electric

Eaton Corporation

OMICRON Electronics

Socomec

Fluke Corporation

Emerson

Mitsubishi Power

Rockwell Automation

ABB Ltd.

General Electric (GE)

Fuji Electric

Panasonic

Acrel Co., Ltd

Rittal GmbH & Co. KG

Honeywell International Inc.

Toshiba Corporation

Delta Electronics, Inc.

Legrand

Omron Corporation

Yokogawa

Gossen Metrawatt GmbH

Others

Market Segmentation (by Type)

Hardware

Software

Market Segmentation (by Application)

Industrial

Residential

Commercial

Others

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Electrical Power Monitoring System (EPMS) Market

Overview of the regional outlook of the Electrical Power Monitoring System (EPMS) Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

6-month post-sales analyst support

Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Electrical Power Monitoring System (EPMS) Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 10 provides a quantitative analysis of the market size and development potential of each region in the next five years.

Chapter 11 provides a quantitative analysis of the market size and development potential of each market segment (product type and application) in the next five years.

Chapter 12 is the main points and conclusions of the report.