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Power Monitoring - Global Market Trajectory & Analytics

  • ID: 4805706
  • Report
  • September 2020
  • Region: Global
  • 617 pages
  • Global Industry Analysts, Inc
The global Power Monitoring market along with the rest of energy industry value chain is expected to be impacted by the ongoing pandemic and the virus led global recession. The global market size is revised at a projected US$3.8billion for the year 2027. The collateral damage posed by the crisis is rapidly being felt across the entire value chain energy technology, equipment & component suppliers. Government measures to curtail movement of people and goods and the worst ever economic downturn will together bring down the energy industry in the year 2020. Lockdowns are bringing electricity consumption in malls, hotels, gyms, schools, shops to almost zero. Utilities are staring at a severe cash crunch as revenues sharply decline and spot prices of electricity plummet. In countries reliant on component supplies from China, supply chain disruptions are pushing up prices of energy related products and equipment such as energy storage devices, lighting fixtures, power generators, and power monitoring devices and technologies, among others. Increased prices are a revenue buster for companies at a time when consumer confidence and business confidence are hitting rock bottom as the deadly march of the pandemic pushes the human costs of the crisis to unbelievable highs.

The web of destruction spun by the pandemic began with the freezing of economic activity as a measure to curtail the spread of the disease. As the economy continues to choke, businesses are collapsing resulting in workforce layoffs. As unemployment rates spiral to unimagined highs, consumer confidence is plummeting as erosion of household wealth and decline in discretionary spending come together to wield the most severe blow to consumption and business confidence, pushing global GDPinto the red. Inability to meet planned sales targets and decline in profitability and revenues for companies means erosion of finances available for energy efficiency investments. Against this backdrop, investments in power monitoring technologies will decline as the focus on energy efficiency get thrown into the backburner, as companies focus all efforts and available financial resources for surviving the downturn. As companies across all industrial vectors slip on deteriorating economic fundamentals, and as finances dry-up for consumers and businesses alike, sales of power monitoring will decline in the coming years.

However, given that there will always be a need to continuously address power quality issues, the market's growth fundamentals will bounce back in-sync with the improvement in economic climate. A return to business as normal scenario will additionally throw the focus back on regulations and conformance to energy efficiency requirements. A major underlying growth factor for power monitoring is the fact that the world is wasting more energy than It uses even as global leaders strategize to reduce carbon emissions and climate change. This fact will remain unchanged even in the post COVID-19 period, creating a business case for power monitoring. Energy related GHG emissions without technical energy efficiency gains stands at an estimated 40 Gt of CO2 in 2020. With implementation of energy efficiency emissions can be reduced to 32 Gt of CO2. The scenario will create opportunities for energy efficiency solutions.

The role of energy efficiency in long-term climate change goals will undeniably become bigger. Power monitoring is the first step forward in support of support energy-saving activities. Timely identification of potential problems with electrical systems & ability to conduct event forensics is important in reducing energy consumption. Comprising a network of meters connected to a power system in a site, power monitoring system typically aids enterprises in improving the power quality, increasing the facility uptime, generating faster response to power related issues, and in verifying the reliable power equipment operation. Further, enterprises can also leverage the power monitoring system to prevent the overheating of conductors, control and protect the electrical network, enhance the lifespan of electrical equipment, ensure energy contract compliance and fully or partially reduce peak demand power factor penalties. Deployment of power monitoring system allows industrial entities to create a proactive approach to enterprise-level energy management.

Competitors identified in this market include, among others:
  • ABB Ltd.
  • Accuenergy Ltd.
  • Albireo Energy, LLC
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • Fluke Corporation
  • Fuji Electric FA Components & Systems Co., Ltd.
  • GE Grid Solutions
  • Greystone Energy Systems Inc.
  • Littelfuse, Inc.
  • Mitsubishi Electric Corporation
  • Omron Corporation
  • Rockwell Automation, Inc.
  • Samsara Networks, Inc.
  • Schneider Electric SE
  • Siemens AG
  • VaCom Technologies
  • Veris Industries
  • Yokogawa Electric Corporation.
Note: Product cover images may vary from those shown
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • COVID-19 Outbreak to Dent Market Prospects in the Immediate Term
  • What the Stock Market Tells About the COVID-19 Impact is Simple: Maintaining Growth in These Unprecedented Times is Challenging
  • An Introduction to Power Monitoring Products and Services
  • Power Monitoring Products and Services: Current Market Scenario and Outlook
  • Recent Market Activity
  • Power Monitoring Hardware: Largest & Fastest Growing Category
  • Power Monitoring Software Continues to Make Robust Gains
  • Sustained Demand for Power Monitoring Services
  • While Developed Regions Remain Major Revenue Contributors, Developing Regions Extend High Growth Opportunities
  • World Power Monitoring Products & Services Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • World Power Monitoring Products & Services Market - Geographic Regions Ranked by % CAGR (Revenues) for 2020-2027: China, Asia-Pacific, Latin America, USA, Middle East, Europe, Canada, Africa, and Japan
  • COVID-19 Pandemic Set to Dent Economic Growth Across All Regions
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Global Purchasing Managers' Index (PMI) Points for the Years 2018 through 2020
  • Competitive Scenario: A Fragmented Marketplace
2. FOCUS ON SELECT PLAYERS
  • ABB Ltd. (Switzerland)
  • Accuenergy Ltd. (Canada)
  • Albireo Energy, LLC (USA)
  • Eaton Corporation Inc. (USA)
  • Emerson Electric Company (USA)
  • Fluke Corporation (USA)
  • Fuji Electric FA Components & Systems Co., Ltd. (Japan)
  • GE Grid Solutions (USA)
  • Greystone Energy Systems Inc. (Canada)
  • Littelfuse, Inc. (USA)
  • Mitsubishi Electric Corporation (Japan)
  • Omron Corporation (Japan)
  • Rockwell Automation, Inc. (USA)
  • Samsara Networks, Inc. (USA)
  • Schneider Electric SE (France)
  • Siemens AG (Germany)
  • VaCom Technologies (USA)
  • Veris Industries (USA)
  • Yokogawa Electric Corporation (Japan)
3. MARKET TRENDS & DRIVERS
  • Growing Energy Efficiency Needs amid Escalating Energy Costs Creates Fertile Environment for Power Monitoring Solutions Market
  • Reducing Carbon Emissions - Right Time for Energy Efficiency Solutions
  • Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2018 by Industry
  • The World is Wasting More Energy than It Uses Even as Global Leaders Strategize to Reduce Carbon Emissions & Climate Change. The Time is Now Right for Energy Efficiency Solutions
  • Energy Use Efficiency & Wastages in the U.S. (In Quadrillion British Thermal Units)
  • Emphasis on Curbing Carbon Emissions Accelerates Deployments
  • Price of Carbon Emission in US$ per Metric Ton of CO2-Equivalent by Select Countries: 2019
  • Percentage Share of Carbon Dioxide Emissions Worldwide by Price: 2019
  • Focus on Improving the Electrical Infrastructure Reliability Builds Market Momentum
  • Manufacturing & Process Industry: Major Consumer
  • Top 10 Countries in Terms of Manufacturing Output: 2018
  • Industry 4.0 to Steer Next Wave of Growth
  • Global Spending on Industry 4.0 Technologies (in US$ Billion) for the Years 2019, 2021, and 2023
  • Sustained Opportunities in Utilities & Renewable Energy Sectors
  • Global Electricity Generation in Billion kWh by Fuel Type for the Years 2010, 2020, 2030, 2040 and 2050
  • Electricity Consumption in Trillion kWh by Region for the Years 2010, 2012, 2014, 2016 and 2018
  • China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
  • Rising Investments on Smart Grids Accelerates Market Adoption
  • Global Spending on Smart Grid Infrastructure (in US$ Billion) for the Years 2019, 2021, and 2023
  • Novel Opportunities Identified in Renewables Sector
  • Developments in Smart Water Management Industry Augur Well
  • Global Spending on Smart Water Management Solutions (in US$ Billion) for the Years 2019, 2021, and 2023
  • Power Monitoring Systems Come to the Fore to Resolve Critical Power Needs of Data Centers
  • Global Data Center IP Traffic in Zettabytes for the Years 2016, 2018, 2020, and 2022
  • Data Center New Floor Space Capacity Additions (in '000 Sq. Ft.) Worldwide for the Years 2013, 2015, 2017, and 2019
  • Electric Vehicle Charging Stations: New Growth Vertical
  • Number of Public Charging Stations Worldwide for the Years 2015 through 2019
  • IoT & M2M Communication Summon Broad-based Modifications in Power Monitoring Technology
  • Academia Embraces Power Monitoring Technology to Push Energy Efficiency
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 64
Note: Product cover images may vary from those shown
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