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North America is expected to account for a significant share of the industrial energy monitoring systems market, supported by sanction-based environmental regulations and a high awareness of economical energy saving. Future Market Insights expects a market share of 27% in 2022.
NEWARK, Del., August 22, 2022 /PRNewswire/ — The global industrial energy monitoring systems market is expected to reach US$6,534.7 million in 2032 while issuing a stable CAGR of 4.2% over the forecast period of 2022 to 2032. Driven by an increasing emphasis on efficient use of energy resources, the industrial energy monitoring systems market is anticipated to be reached US$4,318.6 million by the end of 2022. This growth will be further complemented by the demand for increased reliability and reduced costs of electrical infrastructure.
The need for a distinctive energy monitoring system is illustrated by the massive power consumption by end-user industries such as mining and minerals, oil and gas, and many others. Industrial power monitoring systems have the ability to communicate and monitor power distribution components from anywhere and at any time to prevent critical losses. This leads to a surge in demand for industrial energy monitoring systems. In addition, the increasing adoption of voluntary or compulsory energy management systems and the large-scale implementation of environmental regulations against energy waste are expected to fuel the demand for industrial energy monitoring systems.
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Due to the fact that power fluctuations can lead to data corruption or loss, industrial power monitoring systems are in high demand in various industries. The industrial energy monitoring systems are likely to discover a wide range of applications in various industrial sectors, especially healthcare, telecom (for remote monitoring and notification), governmental and financial organizations, where the presence of sensitive data does not require problems and smooth operation.
“Due to their high reliability and high efficiency, industrial energy monitoring systems are witnessing high demand from various industries, which is expected to boost sales of industrial energy monitoring systems over the forecast period,” says an FMI analyst.
The central theses:
- Use remote access and management of energy resources to increase market opportunities.
- Lack of qualified resources and high investment costs can prevent the sale of industrial energy monitoring systems.
- 2022, North America is expected to account for a 27% market share.
- Industrial Energy Monitoring Systems Market in Europe should hold a market share of 29%.
- Asia Pacific Industrial Energy Monitoring Systems Market is expected to offer many lucrative opportunities during the forecast period.
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competitive landscape
ABB Ltd, Emerson Electric Company, Eaton Corporation PLC, EnerNOC, Inc., General Electric Company, Honeywell International, Inc. and Rockwell Automation, Schneider Electric SE, Siemens AG and others are some of the major players in the Industrial Energy Monitoring Systems Market profile in full version of the report.
Major market players are focused on product development and launch of advanced industrial energy monitoring systems.
Table of Contents
1. Summary
1.1. Global Market Outlook
1.2. Demand-side trends
1.3. Supply-side trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
3. Market background
3.1. market dynamics
3.1.1. driver
3.1.2. limitations
3.1.3. opportunity
3.1.4. tendencies
3.2. scenario forecast
3.2.1. demand in the optimistic scenario
3.2.2. demand in the probable scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply-side participants and their roles
3.5.1.1. producers
3.5.1.2. Mid-level participants (dealers/agents/brokers)
3.5.1.3. wholesalers and distributors
3.5.2. Value creation and value creation at the node of the supply chain
3.5.3. List of raw material suppliers
3.5.4. List of existing and potential buyers
3.6. Investment feasibility matrix
3.7. Analysis of the value chain
3.7.1. Profit Margin Analysis
3.7.2. wholesalers and distributors
3.7.3. retailers
3.8. PESTLE and Porter’s analysis
3.9. regulatory landscape
3.9.1. By key regions
3.9.2. By key countries
3.10. Outlook on the regional parent market
3.11. Production and consumption statistics
3.12. Import and export statistics
Click Here to View 294 Pages TOC Report for Industrial Power Monitoring System Market
Learn more about the Industrial Power Monitoring System market report
In its latest report, FMI provides an unbiased analysis of the global Industrial Energy Monitoring Systems Market with historical data from 2016-2021 and forecast statistics for 2022-2032.
To understand the global market potential, growth and scope, the market is segmented by control system (programmable logic controllers (PLC) industrial energy monitoring system, supervisory control and data acquisition (SCADA) industrial energy monitoring system, industrial energy monitoring system with distributed control system (DCS)), technology ( Meter Data Management (MDM) Industrial Energy Monitoring System, Peak Demand Control System (PLCS) Industrial Energy Monitoring System, Demand Response Management Solution (DRMS) Industrial Energy Monitoring System, Energy Management Information System (EMIS) Industrial Energy Monitoring System), Application (Mining and Metals, Power Generation and Transmission, Oil and gas, data centers and server rooms, general manufacturing) and region.
According to the latest FMI reports, based on region, Industrial Energy Monitoring Systems Market is in North America is expected to show significant growth, accounting for almost 27% of the market share. Increased government investment in energy infrastructure coupled with the increasing need to improve system reliability and reduce equipment malfunctions, power spikes and shutdowns are driving the demand for industrial energy monitoring systems in this region.
in the Europe, the industrial energy monitoring system market is expected to hold a 29% market share. This growth is attributed to the increasing demand for industrial energy monitoring systems from the expanding data centers. Increasing investments in electric vehicles in countries like Italy, Germanyand UK also promotes market growth in this region.
That Asia Pacific The Industrial Energy Monitoring Systems market is expected to witness impressive growth during the forecast period. The growth in this market is mainly driven by of China rapid introduction of intelligent meters for electricity consumption.
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