Global Circuit Monitoring Market Size, Share & Industry Trends Analysis Report By Type (Modular Circuit Monitoring and Others), By End User (Data Centers, Commercial, Industrial, and Residential), By Regional Outlook and Forecast, 2023 - 2029
The Global Circuit Monitoring Market size is expected to reach $867.6 Million by 2029, rising at a market growth of 4.8% CAGR during the forecast period.
Asia Pacific is a fast-growing region due to significant investments made by numerous top organizations in the region, including the construction of regional data center facilities. In addition, the expanding business sector in developing countries is also anticipated to accelerate market expansion in APAC. Hence, APAC is expected to register more than 25% share of the market by 2029. A few of the other factors driving the data centers industry include the rise in low-cost data demand, faster accessibility, and the adoption of cloud storage by a variety of industries. Some of the factors impacting the market are the rapid increase in the number of data centers, increasing concerns about electricity stability for continuous business operations, and advancements in energy monitoring systems causing a reduction in the use of circuit monitoring.
The spread of the pandemic, the acceptance of cloud and cutting-edge technologies like AI, IoT, big data, and the rollout of 5G are some of the key reasons propelling the data center business. Hence, with the growth of data centers, growth opportunities for the market are also anticipated to surge as it can efficiently manage and reduce power consumption in data centers. Electricity is a fundamental and essential requirement for economies and industries to function, but many places lack a reliable power distribution infrastructure. These sectors fuel the demand, which bridges industrial power management and consumption. On the Contrary, Data centers, industrial sectors, residential and commercial sectors, and other types of buildings can benefit from implementing an energy management system. These elements act as a barrier to the widespread use of circuit monitoring systems, hindering market growth.
Type Outlook
Based on type, the market is segmented into modular circuit monitoring and others. The others segment dominated the market with maximum revenue share in 2022. The others segment includes branch circuit monitoring and multi circuit monitoring. Branch circuit monitors and multi-circuit monitors are both space-efficient and so take up less room than conventional single-circuit energy meters. Also, these are utilized by businesses, data centers, and end users in both the commercial and residential sectors.
End User Outlook
On the basis of end-user, the market is divided into residential, data centers, industrial and commercial. The data centers segment held the highest revenue share in the market in 2022. The rising use of circuit monitoring in data centers for remote monitoring and calculating power usage performance is the primary factor driving the expansion of this segment. The use of data centers is anticipated to increase along with internet adoption and data volume, which will increase demand and propel the segment's expansion in the projected period.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed the largest revenue share in the market in 2022. This is because the region is experiencing a significant increase in the number of new data centers being built and offers attractive chances to the various businesses active in the market. In addition, IT infrastructure and services providers are planning to build a brand-new, sizeable data center campus in the region. Hence, due to the growing number of data centers, North America's market is anticipated to grow.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Eaton Corporation PLC, Legrand Group, NHP Electrical Engineering Products Pty Ltd., Omron Corporation, Daxten Ltd., Elecon Measurements Private Limited (Elmeasure), Jiangsu Acrel Electrical Manufacturing Co., LTD. (Acrel Co., Ltd.) and Bay Power, Inc.
Strategies Deployed in Circuit Monitoring Market
Apr-2023: ABB launched CogniEN, a monitoring product intended for low and medium-voltage electrical equipment. The new product enables users to recognize problems through their electrical installations and send maintenance teams faster. Additionally, the new product is hosted on AWS.
May-2022: Schneider Electric launched SureSeT MV switchgear in the North American region. Combined with EvoPacT, the combination possesses the capacity to offer various benefits including compact design, improved operational safety, increased lifetime, etc.
Jan-2022: Eaton took over Royal Power Solutions, a US-based manufacturer of high-precision electrical components. The acquisition of Royal Power Solutions strengthens the acquiring company's potential to capitalize on trending growth across aerospace, electrical, and eMobility segments.
Mar-2021: Eaton acquired Tripp Lite, a US-based manufacturer of power supply systems. The addition of Tripp Lite expands the range of acquiring the company's edge computing and IT product offerings.
Jan-2021: Schneider Electric took over DC Systems, a Netherlands-based manufacturer of hybrid AC/DC electrical distribution systems. This acquisition accelerates innovations in electrical distribution and further strengthens the acquiring company's capabilities to offer sustainable energy infrastructures.
Jan-2021: ABB introduced a new product line Formula DIN-Rail. The new product line consists of Miniature Circuit Breakers (MCBs), Residual Current Circuit Breakers (RCCBs), and Isolators intended for the electrical retail market. The MCBs come with a seven-year warranty.
Aug-2020: Schneider Electric introduced a new version of ComPacT, a molded-case circuit breaker. The new circuit breaker features a new design, with modular plug-and-play accessories, and connectivity ready, among others.
Feb-2020: Eaton completed the acquisition of Power Distribution, a US-based provider of power distribution and static switching equipment. The addition of Power Distribution broadens Eaton's data center power distribution and monitoring offerings and further enables the acquiring company to better serve the needs of its data center customers.
Scope of the Study
Market Segments covered in the Report:
By Type
- Modular Circuit Monitoring
- Others
- Data Centers
- Commercial
- Industrial
- Residential
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
- ABB Group
- Schneider Electric SE
- Eaton Corporation PLC
- Legrand Group
- NHP Electrical Engineering Products Pty Ltd.
- Omron Corporation
- Daxten Ltd.
- Elecon Measurements Private Limited (Elmeasure)
- Jiangsu Acrel Electrical Manufacturing Co., LTD. (Acrel Co., Ltd.)
- Bay Power, Inc.
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Circuit Monitoring Market, by Type
- 1.4.2 Global Circuit Monitoring Market, by End User
- 1.4.3 Global Circuit Monitoring Market, by Geography
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market composition & scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Strategies Deployed in Circuit Monitoring Market
- Chapter 4. Global Circuit Monitoring Market by Type
- 4.1 Global Modular Circuit Monitoring Market by Region
- 4.2 Global Others Market by Region
- Chapter 5. Global Circuit Monitoring Market by End User
- 5.1 Global Data Centers Market by Region
- 5.2 Global Commercial Market by Region
- 5.3 Global Industrial Market by Region
- 5.4 Global Residential Market by Region
- Chapter 6. Global Circuit Monitoring Market by Region
- 6.1 North America Circuit Monitoring Market
- 6.1.1 North America Circuit Monitoring Market by Type
- 6.1.1.1 North America Modular Circuit Monitoring Market by Country
- 6.1.1.2 North America Others Market by Country
- 6.1.2 North America Circuit Monitoring Market by End User
- 6.1.2.1 North America Data Centers Market by Country
- 6.1.2.2 North America Commercial Market by Country
- 6.1.2.3 North America Industrial Market by Country
- 6.1.2.4 North America Residential Market by Country
- 6.1.3 North America Circuit Monitoring Market by Country
- 6.1.3.1 US Circuit Monitoring Market
- 6.1.3.1.1 US Circuit Monitoring Market by Type
- 6.1.3.1.2 US Circuit Monitoring Market by End User
- 6.1.3.2 Canada Circuit Monitoring Market
- 6.1.3.2.1 Canada Circuit Monitoring Market by Type
- 6.1.3.2.2 Canada Circuit Monitoring Market by End User
- 6.1.3.3 Mexico Circuit Monitoring Market
- 6.1.3.3.1 Mexico Circuit Monitoring Market by Type
- 6.1.3.3.2 Mexico Circuit Monitoring Market by End User
- 6.1.3.4 Rest of North America Circuit Monitoring Market
- 6.1.3.4.1 Rest of North America Circuit Monitoring Market by Type
- 6.1.3.4.2 Rest of North America Circuit Monitoring Market by End User
- 6.2 Europe Circuit Monitoring Market
- 6.2.1 Europe Circuit Monitoring Market by Type
- 6.2.1.1 Europe Modular Circuit Monitoring Market by Country
- 6.2.1.2 Europe Others Market by Country
- 6.2.2 Europe Circuit Monitoring Market by End User
- 6.2.2.1 Europe Data Centers Market by Country
- 6.2.2.2 Europe Commercial Market by Country
- 6.2.2.3 Europe Industrial Market by Country
- 6.2.2.4 Europe Residential Market by Country
- 6.2.3 Europe Circuit Monitoring Market by Country
- 6.2.3.1 Germany Circuit Monitoring Market
- 6.2.3.1.1 Germany Circuit Monitoring Market by Type
- 6.2.3.1.2 Germany Circuit Monitoring Market by End User
- 6.2.3.2 UK Circuit Monitoring Market
- 6.2.3.2.1 UK Circuit Monitoring Market by Type
- 6.2.3.2.2 UK Circuit Monitoring Market by End User
- 6.2.3.3 France Circuit Monitoring Market
- 6.2.3.3.1 France Circuit Monitoring Market by Type
- 6.2.3.3.2 France Circuit Monitoring Market by End User
- 6.2.3.4 Russia Circuit Monitoring Market
- 6.2.3.4.1 Russia Circuit Monitoring Market by Type
- 6.2.3.4.2 Russia Circuit Monitoring Market by End User
- 6.2.3.5 Spain Circuit Monitoring Market
- 6.2.3.5.1 Spain Circuit Monitoring Market by Type
- 6.2.3.5.2 Spain Circuit Monitoring Market by End User
- 6.2.3.6 Italy Circuit Monitoring Market
- 6.2.3.6.1 Italy Circuit Monitoring Market by Type
- 6.2.3.6.2 Italy Circuit Monitoring Market by End User
- 6.2.3.7 Rest of Europe Circuit Monitoring Market
- 6.2.3.7.1 Rest of Europe Circuit Monitoring Market by Type
- 6.2.3.7.2 Rest of Europe Circuit Monitoring Market by End User
- 6.3 Asia Pacific Circuit Monitoring Market
- 6.3.1 Asia Pacific Circuit Monitoring Market by Type
- 6.3.1.1 Asia Pacific Modular Circuit Monitoring Market by Country
- 6.3.1.2 Asia Pacific Others Market by Country
- 6.3.2 Asia Pacific Circuit Monitoring Market by End User
- 6.3.2.1 Asia Pacific Data Centers Market by Country
- 6.3.2.2 Asia Pacific Commercial Market by Country
- 6.3.2.3 Asia Pacific Industrial Market by Country
- 6.3.2.4 Asia Pacific Residential Market by Country
- 6.3.3 Asia Pacific Circuit Monitoring Market by Country
- 6.3.3.1 China Circuit Monitoring Market
- 6.3.3.1.1 China Circuit Monitoring Market by Type
- 6.3.3.1.2 China Circuit Monitoring Market by End User
- 6.3.3.2 Japan Circuit Monitoring Market
- 6.3.3.2.1 Japan Circuit Monitoring Market by Type
- 6.3.3.2.2 Japan Circuit Monitoring Market by End User
- 6.3.3.3 India Circuit Monitoring Market
- 6.3.3.3.1 India Circuit Monitoring Market by Type
- 6.3.3.3.2 India Circuit Monitoring Market by End User
- 6.3.3.4 South Korea Circuit Monitoring Market
- 6.3.3.4.1 South Korea Circuit Monitoring Market by Type
- 6.3.3.4.2 South Korea Circuit Monitoring Market by End User
- 6.3.3.5 Singapore Circuit Monitoring Market
- 6.3.3.5.1 Singapore Circuit Monitoring Market by Type
- 6.3.3.5.2 Singapore Circuit Monitoring Market by End User
- 6.3.3.6 Malaysia Circuit Monitoring Market
- 6.3.3.6.1 Malaysia Circuit Monitoring Market by Type
- 6.3.3.6.2 Malaysia Circuit Monitoring Market by End User
- 6.3.3.7 Rest of Asia Pacific Circuit Monitoring Market
- 6.3.3.7.1 Rest of Asia Pacific Circuit Monitoring Market by Type
- 6.3.3.7.2 Rest of Asia Pacific Circuit Monitoring Market by End User
- 6.4 LAMEA Circuit Monitoring Market
- 6.4.1 LAMEA Circuit Monitoring Market by Type
- 6.4.1.1 LAMEA Modular Circuit Monitoring Market by Country
- 6.4.1.2 LAMEA Others Market by Country
- 6.4.2 LAMEA Circuit Monitoring Market by End User
- 6.4.2.1 LAMEA Data Centers Market by Country
- 6.4.2.2 LAMEA Commercial Market by Country
- 6.4.2.3 LAMEA Industrial Market by Country
- 6.4.2.4 LAMEA Residential Market by Country
- 6.4.3 LAMEA Circuit Monitoring Market by Country
- 6.4.3.1 Brazil Circuit Monitoring Market
- 6.4.3.1.1 Brazil Circuit Monitoring Market by Type
- 6.4.3.1.2 Brazil Circuit Monitoring Market by End User
- 6.4.3.2 Argentina Circuit Monitoring Market
- 6.4.3.2.1 Argentina Circuit Monitoring Market by Type
- 6.4.3.2.2 Argentina Circuit Monitoring Market by End User
- 6.4.3.3 UAE Circuit Monitoring Market
- 6.4.3.3.1 UAE Circuit Monitoring Market by Type
- 6.4.3.3.2 UAE Circuit Monitoring Market by End User
- 6.4.3.4 Saudi Arabia Circuit Monitoring Market
- 6.4.3.4.1 Saudi Arabia Circuit Monitoring Market by Type
- 6.4.3.4.2 Saudi Arabia Circuit Monitoring Market by End User
- 6.4.3.5 South Africa Circuit Monitoring Market
- 6.4.3.5.1 South Africa Circuit Monitoring Market by Type
- 6.4.3.5.2 South Africa Circuit Monitoring Market by End User
- 6.4.3.6 Nigeria Circuit Monitoring Market
- 6.4.3.6.1 Nigeria Circuit Monitoring Market by Type
- 6.4.3.6.2 Nigeria Circuit Monitoring Market by End User
- 6.4.3.7 Rest of LAMEA Circuit Monitoring Market
- 6.4.3.7.1 Rest of LAMEA Circuit Monitoring Market by Type
- 6.4.3.7.2 Rest of LAMEA Circuit Monitoring Market by End User
- Chapter 7. Company Profiles
- 7.1 Schneider Electric SE
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental and Regional Analysis
- 7.1.4 Research & Development Expense
- 7.1.5 Recent strategies and developments:
- 7.1.5.1 Product Launches and Product Expansions:
- 7.1.5.2 Acquisition and Mergers:
- 7.1.6 SWOT Analysis
- 7.2 ABB Group
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expense
- 7.2.5 Recent strategies and developments:
- 7.2.5.1 Product Launches and Product Expansions:
- 7.2.6 SWOT Analysis
- 7.3 Eaton Corporation PLC
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental Analysis
- 7.3.4 Research & Development Expense
- 7.3.5 Recent strategies and developments:
- 7.3.5.1 Acquisition and Mergers:
- 7.3.6 Swot Analysis
- 7.4 Omron Corporation
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental and Regional Analysis
- 7.4.5 SWOT Analysis
- 7.5 Legrand Group
- 7.5.1 Company Overview
- 7.5.2 Financial Analysis
- 7.5.3 Regional Analysis
- 7.5.4 Research & Development Expense
- 7.6 Daxten Ltd.
- 7.6.1 Company Overview
- 7.7 Elecon Measurements Private Limited (Elmeasure)
- 7.7.1 Company Overview
- 7.8 Jiangsu Acrel Electrical Manufacturing Co., LTD. (Acrel Co., Ltd.)
- 7.8.1 Company Overview
- 7.9 NHP Electrical Engineering Products Pty Ltd.
- 7.9.1 Company Overview
- 7.10. Bay Power, Inc.
- 7.10.1 Company Overview
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