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Power Monitoring Market Review: Long-Term Opportunity Vs. Short-Term Challenges
Power Monitoring Market Latest Edition Published with Forecast to 2027- May 26, 2022
- Electrical Components & Equipment
According to the report, Rise in the Adoption of Smart Grid Technologies is one of the primary growth factors for the market. Improves Equipment Performance and Reduces Energy Costs
is also expected to contribute significantly to the Power Monitoring market. Overall, applications of Power Monitoring, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models – a trend that will continue in the future.
AMA’s Analyst on the Global Power Monitoring Market identified that the demand is rising in many different parts of the world due to "Increasing Urbanization and Industrialization ". Furthermore, some recent industry insights like "In September 2019, ABB launched its first Bluetooth-equipped network analyzers, which guarantee accurate electrical measuring and power monitoring of all energy assets. The new M4M empowers the digital transformation of buildings by leveraging the scalability of ABB’s energy and asset management solutions." is constantly making the industry dynamic. One of the challenges that industry facing is "Synchronization with Existing Components"
The End-user, such as Manufacturing & Process Industry, is boosting the Power Monitoring market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The Component, such as Hardware (Metering & Communication Devices and Measurement Devices), is boosting the Power Monitoring market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The Monitoring Type, such as Voltage, is boosting the Power Monitoring market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Power Monitoring market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market
Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Power Monitoring market and other related sub-markets covered in the study.
o Key & emerging players in the Power Monitoring market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
The overall Power Monitoring market size is calculated using market estimation process, the Power Monitoring market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Power Monitoring market size has been validated using both top-down and bottom-up approaches.
AMA’s Analyst on the Global Power Monitoring Market identified that the demand is rising in many different parts of the world due to "Increasing Urbanization and Industrialization ". Furthermore, some recent industry insights like "In September 2019, ABB launched its first Bluetooth-equipped network analyzers, which guarantee accurate electrical measuring and power monitoring of all energy assets. The new M4M empowers the digital transformation of buildings by leveraging the scalability of ABB’s energy and asset management solutions." is constantly making the industry dynamic. One of the challenges that industry facing is "Synchronization with Existing Components"
The End-user, such as Manufacturing & Process Industry, is boosting the Power Monitoring market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The Component, such as Hardware (Metering & Communication Devices and Measurement Devices), is boosting the Power Monitoring market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The Monitoring Type, such as Voltage, is boosting the Power Monitoring market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Power Monitoring market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market
Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Power Monitoring market and other related sub-markets covered in the study.
o Key & emerging players in the Power Monitoring market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
The overall Power Monitoring market size is calculated using market estimation process, the Power Monitoring market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Power Monitoring market size has been validated using both top-down and bottom-up approaches.
Craig Francis
PR & Marketing Manager