Global Power Management System Market 2018-2022: Leading Players are Schneider Electric, Eaton, Siemens, Rockwell Automation and GE
DUBLIN, March 12, 2018 /PRNewswire/ --
The "Power Management System Market by Type (Hardware, Software, Services), Module (Power Monitoring, Load Shedding, Power Simulator, Generator Controls), End-User (Oil & Gas, Marine, Metals & Mining, Data Centers), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global power monitoring market is projected to grow at a CAGR of 5.76% from 2017 to 2022, to reach a market size of USD 4.57 Billion by 2022.
This growth is attributed to the efficient utilization of power resources, increasing electricity prices, and maximizing reliability of electrical infrastructure. The increasing requirement of reliable power supply and replacement of existing infrastructure would also boost the demand for power monitoring systems.
The power monitoring market is segmented by component into hardware, software, and services. The hardware segment accounted for the largest market size in 2016 due to the increasing deployment of smart meters and standard meters globally. The hardware segment is expected to grow at the highest CAGR from 2017 to 2022, owing to increasing smart grid investments and energy efficiency targets globally. The hardware segment is further sub-segmented into metering and communication and measurement devices. The metering and communication devices segment is projected to dominate the hardware market and is expected to grow at the fastest rate during the forecast period. This growth is attributed to smart meter roll out plans and increasing demand for reliable power supply globally.
The report segments the power monitoring market by end-user into manufacturing and process industry, datacenters, utilities and renewables, public infrastructures, and electric vehicle charging stations. The manufacturing and process industry segment accounted for the largest market share in 2016. Power monitoring systems are used in manufacturing and process industries for delivering reliable power supply and to increase the plant uptime. The manufacturing and process segment includes cement, pharmaceutical, semiconductors, metals and mining, water and wastewater, automotive, oil & gas, and food and beverages. The datacenters segment is expected to grow at the highest CAGR from 2017 to 2022, owing to increasing investments in IT hubs in North America and Asia-Pacific.
In this report, the power monitoring market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is projected to dominate the global power monitoring market by 2022, owing to smart grid investment and aging T&D infrastructure in the region. The market in Asia-Pacific is expected to grow at the highest CAGR from 2017 to 2022.
This growth is attributed to growing industrialization and urbanization and rising renewable power generation capacity in the region. Countries, such as India, Japan, and China are driving the power monitoring market in the Asia-Pacific region. The infrastructural developments and investments in the water and wastewater industry in the Middle East & Africa are expected to drive the power monitoring market in the region.
Leading players in the power monitoring market include Schneider Electric SE (France), Eaton Corporation plc (Ireland), Siemens AG (Germany), Rockwell Automation, Inc. (U.S.), and General Electric Company (U.S.). New product developments was the strategy most commonly adopted by top players in the market from 2013 to June 2017. It was followed by mergers & acquisitions, expansions, and contracts & agreements.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Power Monitoring Market, By Region
4.2 Power Monitoring Market, By Component
4.3 Power Monitoring Market, By Hardware Component
4.4 Power Monitoring Market, By End-User
4.5 North America Power Monitoring Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Focus on Efficient Utilization of Power Resources
5.2.1.2 Growing Attention to Reduce Energy Cost
5.2.1.3 Maximizing the Reliability of Electrical Infrastructure
5.2.2 Restraints
5.2.2.1 High Cost of High-End Monitoring Devices
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Smart Grid Technologies
5.2.3.2 Growing Urbanization and Industrialization
5.2.4 Challenges
5.2.4.1 Availability of Alternatives Such as Energy Management System
5.2.4.2 Lack of Compatibility With Existing Components
5.3 Supply Chain Analysis
5.3.1 Suppliers
5.3.2 Enablers
5.3.3 End-Users
6 Power Monitoring Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Metering and Communication Devices
6.2.2 Measurement Devices
6.3 Software
6.4 Services
7 Power Monitoring Market, By End-User
7.1 Introduction
7.2 Manufacturing and Process Industry
7.3 Datacenters
7.4 Utilites and Renewables
7.5 Public Infrastructure
7.6 Electric Vehicles Charging Stations
8 Power Monitoring Market, By Region
9 Competitive Landscape
9.1 Overview
9.2 Market Ranking, Power Monitoring Market, 2016
9.3 Power Monitoring Market (Global): Competitive Leadership Mapping, 2017
9.3.1 Visionary Leaders
9.3.2 Innovators
9.3.3 Dynamic Differentiators
9.3.4 Emerging Companies
9.4 Strength of Product Portfolio (25 Players)
9.5 Business Strategy Excellence (25 Players)
10 Company Profiles
- ABB Ltd
- Eaton Corporation PLC
- Emerson Electric Co.
- Fluke Corporation
- Fuji Electric FA Components & Systems Co., Ltd.
- General Electric Company
- Littelfuse, Inc.
- Mitsubishi Electric Corporation
- Omron Corporation
- Rockwell Automation, Inc.
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/research/wzwdhs/global_power?w=5
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