Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4.80 Billion | USD 8.82 Billion | 6.27% | 2024 |
FrequentlyAsked Questions
Power monitoring systems are electrical or power-driven devices that are used to analyze the energy utilization by any electric load carrier.
The global power monitoring system market is expected to grow due to rising energy efficiency demands, increasing adoption of smart grids, stringent government regulations, and growing industrial automation.
According to a study, the global power monitoring system market size was worth around USD 4.80 Billion in 2024 and is expected to reach USD 8.82 Billion by 2034.
The global power monitoring system market is expected to grow at a CAGR of 6.27% during the forecast period.
North America is expected to dominate the power monitoring system market over the forecast period.
Leading players in the global power monitoring system market include Schneider Electric (France), ABB(Switzerland), Eaton(Ireland), Siemens(Germany), General Electric(US), Emerson(US), Rockwell Automation (US), Mitsubishi Electric (Japan), Omron(Japan), Yokogawa(Japan), among others.
The report explores crucial aspects of the power monitoring system market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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