Global Circuit Monitoring Market Report 2023: Rising Concerns Over Power Stability for Uninterrupted Business Operations Drive Adoption

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May 15, 2023, 19:15 ET

DUBLIN, May 15, 2023 /PRNewswire/ -- The "Global Circuit Monitoring Market by Type (Modular Circuit Monitoring, Others (Branch Circuit & Multi Circuit)), End Use (Commercial, Industrial, Data Centers), & Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global circuit monitoring market is estimated to grow from USD 659 Million in 2023 to USD 829 Million by 2028; it is expected to record a CAGR of 4.7% during the forecast period. Huge investments, along with enforcement of stringent standards, to reduce carbon footprint in data centers, and an increasing number of data centers are expected to drive the market for circuit monitoring.

Modular Circuit Monitoring: The fastest growing segment of the circuit monitoring market, by type

This report segments the circuit monitoring market based on type into two types: Modular circuit monitoring, and others. The Modular Circuit Monitoring segment is expected to be the fastest growing market during the forecast period. The market for modular circuit monitoring is driven by its advantages such as accuracy and easy installation and connectivity

The commercial segment is expected to emerge as the second largest segment based on end users

This report segments the circuit monitoring market based on end users into four segments: data centers, commercial, industrial, and residential. The commercial segment is expected to be the second largest segment during the forecast period. The demand for circuit monitors in commercial areas like banking, financial services, insurance, healthcare, and government and defense is driving the market.

North America is expected to be the largest region in the circuit monitoring market

North America is expected to be the largest circuit monitoring market during the forecast period. The region is witnessing substantial growth for new data centers and provides lucrative opportunities for the players operating in the circuit monitoring market. For instance, NTT Ltd., a world-leading IT infrastructure and services company planning to expand its portfolio by constructing a new, sizable data center campus in Northern Virginia, with a planned capacity of 336MW. These are the factors expected to increase the market for circuit monitoring in North America.

Market Dynamics

Drivers

Rising Concerns Over Power Stability for Uninterrupted Business Operations
Increasing Number of Data Centers
Intensifying Need to Monitor Energy Consumption to Achieve Carbon Neutrality

Restraints

Decline in Adoption of Circuit Monitoring Due to Advancements in Energy Monitoring Systems

Opportunities

Enforcement of Stringent Regulations to Reduce Carbon Footprint of Data Centers
Shift Toward Cloud-based Data Centers

Challenges

Supply Chain Constraints and Disruptions
Complexities Involved in Integrating Circuit Monitoring Systems into Operational Data Centers

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Circuit Monitoring Market, by Type
6.1 Introduction
6.2 Modular Circuit Monitoring
6.2.1 Offers Advantages of Accuracy and Easy Installation
6.3 Others

7 Circuit Monitoring Market, by End-user
7.1 Introduction
7.2 Residential
7.2.1 Use Circuit Monitoring to Gain Actual Picture of Power Consumption
7.3 Commercial
7.3.1 Use Circuit Monitoring to Improve Capacity Planning and Power Consumption
7.4 Data Centers
7.4.1 Use Circuit Monitoring to Track Power Consumption of All IT Devices
7.5 Industrial
7.5.1 Deploy Circuit Monitoring to Maximize Machine Uptime, Increase Efficiency, and Lower Costs

8 Circuit Monitoring Market, by Region

9 Competitive Landscape

10 Company Profiles

11 Appendix

Companies Mentioned

ABB
Accuenergy
Acrel - Electric Co
Anord Mardix
Bay Power Inc.
Cet Inc.
Circuitmeter
Daxten
Eaton
Elmeasure
Legrand
MPL Technologies
NHP
Nlyte Software
Omron Corporation
Packet Power
Schneider Electric
Senva Inc.
Socomec
Toshiba International Corporation

For more information about this report visit https://www.researchandmarkets.com/r/t1d6n3

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SOURCE Research and Markets