Power Monitoring Market 2021 Research Analysis on Competitive landscape and Key Vendors, Forecast by 2030

In a recent published report, Kenneth Research has updated the market report for Power Monitoring Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Power Monitoring Market products.

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Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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The Global Power Monitoring Market was valued at USD 3.32 billion in 2016 and is projected to reach USD 5.52 billion by 2025, growing at a CAGR of 5.81% from 2017 to 2025.

Power Monitoring is used for managing your energy cost and efficiency in real time. A power monitoring system is a network of meters connected to the Internet that provide real time data on the power system. There are several benefits of using power monitoring including – saves money, increases profit margin, decreases downtime, identify inefficiencies, early detection of problems, quality control, and energy expenditure reductions.

Sample Infographics:

Market Dynamics:
1. Market Drivers
1.1 Increasing urbanization and industrialization
1.2 Growing adoption of smart grid technologies
1.3 Rising need for maximizing the reliability of electrical infrastructure
1.4 Increasing focus to reduce energy cost
1.5 Growing need for efficient utilization of power resources
2. Market Restraints
2.1 Poor compatibility with existing components
2.2 Availability of low cost alternatives
2.3 Rising cost of high-end monitoring devices

Market Segmentation:
The Global Power Monitoring Market is segmented on the end user, component, and region.

1. End User:
1.1 Public Infrastructure
1.2 Datacenters
1.3 Electric Vehicle Charging Stations
1.4 Manufacturing and Process Industry
1.5 Utilities and Renewables

2. By Component:
2.1 Software
2.2 Hardware
2.3 Services

3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Eaton Corporation PLC
2. Fluke Corporation
3. General Electric Company
4. Mitsubishi Electric Corporation
5. Rockwell Automation, Inc.
6. Siemens AG
7. Yokogawa Electric Corporation
8. ABB Ltd
9. Emerson Electric Co.
10. Fuji Electric FA Components & Systems Co., Ltd.
11. Littelfuse, Inc.
12. Omron Corporation
13. Schneider Electric SE
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Power Monitoring Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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