Power Monitoring Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Power Monitoring System Market
The power monitoring system market size was valued at USD 4.52 billion in 2023, and the market is now projected to grow from USD 4.76 billion in 2024 to USD 7.64 billion by 2032, exhibiting a CAGR of 6.08% during the forecast period of 2024-2032.
The COVID-19 outbreak affected more than 200 countries posing a threat to almost all sectors ranging from railways, construction, manufacturing and aviation. The closure of businesses and restriction of movement slowed the economy and disrupted the procurement process. Most affected business entities included large and medium-scale industries that temporarily scaled down their operations. The closure of schools and colleges also reduced global power consumption, impacting the demand for power monitoring system market growth.
The growing adoption of renewable energy, especially solar, drives demand for power monitoring system market share to optimize energy delivery and minimize losses. These systems support real-time data for efficient market trading, grid management and secure supply planning. Integrating PV power monitoring strengthens grid reliability and sustainability. The government and business activities related to this application are also estimated to drive the market in the future years.
Also, the increase in electricity demand, which involves the key pillars of economic development, technological progress and the growing urbanization process defines the need for power generation. Infrastructural development is experiencing an upward trend in developing countries and the world's industrialization is increasing electricity demand. As countries increase power generation capacity, power monitoring systems are essential for efficient operation. The growth of renewable energy installations further boosts demand for these systems.
Comprehensive Analysis of Power Monitoring System Market
The power monitoring system market and power & energy industry are rising at an exponential rate due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by component and by application. The component includes, Hardware, Software and Services. The application includes, Utilities & Renewables, Manufacturing & Process Industry, Datacenters, Public Infrastructure and Others.
Asia Pacific is set to lead the global market driven by surging electricity demand from population growth, urbanization and industrialization. Rising investments in power generation and expanding renewable energy capacity fuel sector growth. Governments are increasing electricity output, boosting demand for power monitoring systems across conventional and renewable energy plants.
The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include, ABB (Switzerland), General Electric (U.S.), Schneider Electric (France), Eaton (Ireland), Siemens (Germany), Emerson (U.S.), Rockwell Automation (U.S.), Mitsubishi Electric (Japan), Omron (Japan), Yokogawa (Japan), Fuji Electric FA Components & Systems (Japan) and Fluke Corporation (U.S.). These market players provide a level-playing competitive landscape.
In January 2024, Starline, a sub-brand of Legrand, introduced its third generation of Critical Power Monitor products, namely the M70 CPM. First launched in 2014, Starline Critical Power Monitor acts as the busway power monitoring processes of the major providers of data centers globally.
Segmentation Table
Global Power Monitoring System Market Scope
Study Period
2019-2032
Base Year
2023
Forecast Period
2024-2032
Growth Rate
CAGR of 6.08% from 2024-2032
Historical Period
2019-2022
Unit
Value (USD Billion)
Segmentation
By Component, Application, and Region
By Component
Hardware
Software
Services
By Application
Utilities & Renewable
Manufacturing & Process Industry
Datacenters
Public Infrastructure
Others
By Region
North America (By Component, By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
- U.K. (By Application)
- France (By Application)
- Spain (By Application)
- Germany(By Application)
- Italy (By Application)
- Rest of Europe (By Application)
- China (By Application)
- India (By Application)
- Japan (By Application)
- Southeast Asia (By Application)
- Rest of Asia Pacific (By Application)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
- GCC (By Application)
- Saudi Africa (By Application)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Porter’s Five Forces Analysis
- 4.5. Impact of COVID-19 on the Power Monitoring System Market
- 5. Global Power Monitoring System Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Component
- 5.2.1. Hardware
- 5.2.2. Software
- 5.2.3. Services
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Utilities & Renewable
- 5.3.2. Manufacturing & Process Industry
- 5.3.3. Datacenter
- 5.3.4. Public Infrastructure
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Power Monitoring System Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Component
- 6.2.1. Hardware
- 6.2.2. Software
- 6.2.3. Services
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Utilities & Renewable
- 6.3.2. Manufacturing & Process Industry
- 6.3.3. Datacenter
- 6.3.4. Public Infrastructure
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S. Market Analysis, Insights and Forecast – By Application
- 6.4.1.1. Utilities & Renewable
- 6.4.1.2. Manufacturing & Process Industry
- 6.4.1.3. Datacenter
- 6.4.1.4. Public Infrastructure
- 6.4.1.5. Others
- 6.4.2. Canada Market Analysis, Insights and Forecast – By Application
- 6.4.2.1. Utilities & Renewable
- 6.4.2.2. Manufacturing & Process Industry
- 6.4.2.3. Datacenter
- 6.4.2.4. Public Infrastructure
- 6.4.2.5. Others
- 7. Europe Power Monitoring System Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Component
- 7.2.1. Hardware
- 7.2.2. Software
- 7.2.3. Services
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Utilities & Renewable
- 7.3.2. Manufacturing & Process Industry
- 7.3.3. Datacenter
- 7.3.4. Public Infrastructure
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. U.K Market Analysis, Insights and Forecast – By Application
- 7.4.1.1. Utilities & Renewable
- 7.4.1.2. Manufacturing & Process Industry
- 7.4.1.3. Datacenter
- 7.4.1.4. Public Infrastructure
- 7.4.1.5. Others
- 7.4.2. Germany Market Analysis, Insights and Forecast – By Application
- 7.4.2.1. Utilities & Renewable
- 7.4.2.2. Manufacturing & Process Industry
- 7.4.2.3. Datacenter
- 7.4.2.4. Public Infrastructure
- 7.4.2.5. Others
- 7.4.3. France Market Analysis, Insights and Forecast – By Application
- 7.4.3.1. Utilities & Renewable
- 7.4.3.2. Manufacturing & Process Industry
- 7.4.3.3. Datacenter
- 7.4.3.4. Public Infrastructure
- 7.4.3.5. Others
- 7.4.4. Spain Market Analysis, Insights and Forecast – By Application
- 7.4.4.1. Utilities & Renewable
- 7.4.4.2. Manufacturing & Process Industry
- 7.4.4.3. Datacenter
- 7.4.4.4. Public Infrastructure
- 7.4.4.5. Others
- 7.4.5. Italy Market Analysis, Insights and Forecast – By Application
- 7.4.5.1. Utilities & Renewable
- 7.4.5.2. Manufacturing & Process Industry
- 7.4.5.3. Datacenter
- 7.4.5.4. Public Infrastructure
- 7.4.5.5. Others
- 7.4.6. Rest of Europe Market Analysis, Insights and Forecast – By Application
- 7.4.6.1. Utilities & Renewable
- 7.4.6.2. Manufacturing & Process Industry
- 7.4.6.3. Datacenter
- 7.4.6.4. Public Infrastructure
- 7.4.6.5. Others
- 8. Asia Pacific Power Monitoring System Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Component
- 8.2.1. Hardware
- 8.2.2. Software
- 8.2.3. Services
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Utilities & Renewable
- 8.3.2. Manufacturing & Process Industry
- 8.3.3. Datacenter
- 8.3.4. Public Infrastructure
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China Market Analysis, Insights and Forecast – By Application
- 8.4.1.1. Utilities & Renewable
- 8.4.1.2. Manufacturing & Process Industry
- 8.4.1.3. Datacenter
- 8.4.1.4. Public Infrastructure
- 8.4.1.5. Others
- 8.4.2. India Market Analysis, Insights and Forecast – By Application
- 8.4.2.1. Utilities & Renewable
- 8.4.2.2. Manufacturing & Process Industry
- 8.4.2.3. Datacenter
- 8.4.2.4. Public Infrastructure
- 8.4.2.5. Others
- 8.4.3. Japan Market Analysis, Insights and Forecast – By Application
- 8.4.3.1. Utilities & Renewable
- 8.4.3.2. Manufacturing & Process Industry
- 8.4.3.3. Datacenter
- 8.4.3.4. Public Infrastructure
- 8.4.3.5. Others
- 8.4.4. Southeast Asia Market Analysis, Insights and Forecast – By Application
- 8.4.4.1. Utilities & Renewable
- 8.4.4.2. Manufacturing & Process Industry
- 8.4.4.3. Datacenter
- 8.4.4.4. Public Infrastructure
- 8.4.4.5. Others
- 8.4.5. Rest of Asia Pacific Market Analysis, Insights and Forecast – By Application
- 8.4.5.1. Utilities & Renewable
- 8.4.5.2. Manufacturing & Process Industry
- 8.4.5.3. Datacenter
- 8.4.5.4. Public Infrastructure
- 8.4.5.5. Others
- 9. Latin America Power Monitoring System Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Component
- 9.2.1. Hardware
- 9.2.2. Software
- 9.2.3. Services
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Utilities & Renewable
- 9.3.2. Manufacturing & Process Industry
- 9.3.3. Datacenter
- 9.3.4. Public Infrastructure
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil Market Analysis, Insights and Forecast – By Application
- 9.4.1.1. Utilities & Renewable
- 9.4.1.2. Manufacturing & Process Industry
- 9.4.1.3. Datacenter
- 9.4.1.4. Public Infrastructure
- 9.4.1.5. Others
- 9.4.2. Mexico Market Analysis, Insights and Forecast – By Application
- 9.4.2.1. Utilities & Renewable
- 9.4.2.2. Manufacturing & Process Industry
- 9.4.2.3. Datacenter
- 9.4.2.4. Public Infrastructure
- 9.4.2.5. Others
- 9.4.3. Rest of Latin America Market Analysis, Insights and Forecast – By Application
- 9.4.3.1. Utilities & Renewable
- 9.4.3.2. Manufacturing & Process Industry
- 9.4.3.3. Datacenter
- 9.4.3.4. Public Infrastructure
- 9.4.3.5. Others
- 10. Middle East & Africa Power Monitoring System Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Component
- 10.2.1. Hardware
- 10.2.2. Software
- 10.2.3. Services
- 10.3. Market Analysis, Insights and Forecast – By Application
- 10.3.1. Utilities & Renewable
- 10.3.2. Manufacturing & Process Industry
- 10.3.3. Datacenter
- 10.3.4. Public Infrastructure
- 10.3.5. Others
- 10.4. Market Analysis, Insights and Forecast – By Country
- 10.4.1. GCC Market Analysis, Insights and Forecast – By Application
- 10.4.1.1. Utilities & Renewable
- 10.4.1.2. Manufacturing & Process Industry
- 10.4.1.3. Datacenter
- 10.4.1.4. Public Infrastructure
- 10.4.1.5. Others
- 10.4.2. South Africa Market Analysis, Insights and Forecast – By Application
- 10.4.2.1. Utilities & Renewable
- 10.4.2.2. Manufacturing & Process Industry
- 10.4.2.3. Datacenter
- 10.4.2.4. Public Infrastructure
- 10.4.2.5. Others
- 10.4.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By Application
- 10.4.3.1. Utilities & Renewable
- 10.4.3.2. Manufacturing & Process Industry
- 10.4.3.3. Datacenter
- 10.4.3.4. Public Infrastructure
- 10.4.3.5. Others
- 11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2023
- 11.2. Company Profile
- 11.2.1. Eaton
- 11.2.1.1. Business Overview
- 11.2.1.2. Product & Service Offering
- 11.2.1.3. Overall Revenue
- 11.2.1.4. Recent Development
- 11.2.2. ABB
- 11.2.2.1. Business Overview
- 11.2.2.2. Product & Service Offering
- 11.2.2.3. Overall Revenue
- 11.2.2.4. Recent Development
- 11.2.3. Siemens AG
- 11.2.3.1. Business Overview
- 11.2.3.2. Product & Service Offering
- 11.2.3.3. Overall Revenue
- 11.2.3.4. Recent Development
- 11.2.4. Schneider Electric
- 11.2.4.1. Business Overview
- 11.2.4.2. Product & Service Offering
- 11.2.4.3. Overall Revenue
- 11.2.4.4. Recent Development
- 11.2.5. Mitsubishi Electric Corporation
- 11.2.5.1. Business Overview
- 11.2.5.2. Product & Service Offering
- 11.2.5.3. Overall Revenue
- 11.2.5.4. Recent Development
- 11.2.6. General Electric
- 11.2.6.1. Business Overview
- 11.2.6.2. Product & Service Offering
- 11.2.6.3. Overall Revenue
- 11.2.6.4. Recent Development
- 11.2.7. Emerson
- 11.2.7.1. Business Overview
- 11.2.7.2. Product & Service Offering
- 11.2.7.3. Overall Revenue
- 11.2.7.4. Recent Development
- 11.2.8. Rockwell Automation
- 11.2.8.1. Business Overview
- 11.2.8.2. Product & Service Offering
- 11.2.8.3. Overall Revenue
- 11.2.8.4. Recent Development
- 11.2.9. Omron
- 11.2.9.1. Business Overview
- 11.2.9.2. Product & Service Offering
- 11.2.9.3. Overall Revenue
- 11.2.9.4. Recent Development
- 11.2.10. Yokogawa
- 11.2.10.1. Business Overview
- 11.2.10.2. Product & Service Offering
- 11.2.10.3. Overall Revenue
- 11.2.10.4. Recent Development
- 11.2.11. Fluke Corporation
- 11.2.11.1. Business Overview
- 11.2.11.2. Product & Service Offering
- 11.2.11.3. Overall Revenue
- 11.2.11.4. Recent Development
- 11.2.12. Fuji Electric FA Components & Systems
- 11.2.12.1. Business Overview
- 11.2.12.2. Product & Service Offering
- 11.2.12.3. Overall Revenue
- 11.2.12.4. Recent Development
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