In a Rapidly Changing Economic Scenario, Here’s What to Expect in the Global Power Monitoring Market in 2020 &Beyond
The global Power Monitoring market is expected to be strongly impacted by the ongoing COVID-19 pandemic and the virus led global recession before recovering to reach a revised market size of US$3.8billion by the year 2027.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Power Monitoring market. The segments covered in the study include Component (Hardware, Software, Services); and End-Use (Manufacturing & Process Industry, Utilities & Renewables, Public Infrastructure, Datacenters, and Electric Vehicle Charging Stations).
10 June 9:31 A.M., California/Marketwire/ - According to the new market research report, the global Power Monitoring market is expected to be strongly impacted by the ongoing COVID-19 pandemic and the virus led global recession before recovering to reach a revised market size of US$3.8billion by the year 2027. The market will be reset to a new normal which going forwards in a post crisis era will be continuously redefined and redesigned.
The collateral damage posed by the COVID-19 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. 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.
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. The role of energy efficiency in long-term climate change goals will undeniably become bigger, which potentially gives strong impetus to power monitoring solutions as power monitoring represents the very first step forward in support of any energy-saving strategy.
Key Competitors Covered in the Report
Albireo Energy, LLC
Eaton Corporation Inc.
Emerson Electric Company
Fuji Electric FA Components & Systems Co., Ltd.
GE Grid Solutions
Greystone Energy Systems Inc.
Mitsubishi Electric Corporation
Rockwell Automation, Inc.
Samsara Networks, Inc.
Schneider Electric SE
Yokogawa Electric Corporation
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, 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, UAE, Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 21897. Among this pool, 1971 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 438 unique participations, a total of 197 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.