The global power monitoring system market was worth USD 4 billion in 2021 and is expected to increase to USD 6 billion by 2028 at a CAGR of 5.64%.
Power Monitoring System Market
The global power monitoring system market is projected to grow owing to the rapid industrialization witnessed across the globe. Industrialization refers to the social, economic, and technological growth to move towards a manufacturing-driven economy
According to Zion Market Research, the global power monitoring system market size was worth around USD 4 billion in 2021 and is predicted to grow to around USD 6 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.64% between 2022 and 2028
The global power monitoring system market is expected to be dominated by Asia-Pacific during the projection period owing to the rapid industrialization and urbanization of countries in this region. The regional growth is also aided by the rise in investments in electricity and power management systems by the government as well as private institutes.
The global power monitoring system market is dominated by players like General Electric, ABB, Eaton, Schneider Electric, Rockwell Automation, Yokogawa, Fluke Corporation, Omron, Mitsubishi Electric, and Siemens.