Power Monitoring Market Size, Share, Trends, & Industry Analysis Report By Component (Hardware, Software, and Services), By End User, By Region

Description

List of Tables

The power monitoring market size is expected to reach USD 8.93 billion by 2034, according to a new study by Polaris Market Research. The report "Power Monitoring Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software, and Services), By End User, By Region; Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Power monitoring is the process of continuously tracking and analyzing electrical parameters such as voltage, current, power consumption, energy usage, and power quality in real-time or over a period. It involves the use of sensors, meters, and software systems to collect and interpret data from electrical circuits, equipment, or entire facilities. The primary goal of power monitoring is to enhance energy efficiency, ensure operational reliability, and reduce costs by identifying inefficiencies, preventing equipment failures, and optimizing power usage.

Power monitoring plays a critical role in maintaining power quality by detecting issues such as voltage, harmonics, or phase imbalances that damage sensitive equipment. In critical infrastructure such as data centers and hospitals, power monitoring systems provide alerts for potential failures, enabling quick responses to prevent outages. Additionally, in smart grids and renewable energy systems, power monitoring facilitates efficient energy distribution by tracking generation and consumption in real-time. This ensures optimal integration of solar, wind, or other renewable sources with the grid.

Power Monitoring Market Report Highlights

In terms of component, the hardware segment accounted for 48.95% revenue market share in 2024 due to widespread deployment of smart meters, sensors, and other measuring instruments across industrial, commercial, and utility sectors.

Based on end user, the manufacturing & process industry segment held 32.05% revenue share in 2024 due to high energy consumption and critical need for operational efficiency.

The North America power monitoring market dominated the market in 2024, holding 38.11% global market share. This dominance is attributed to the increasing need for energy efficiency, grid modernization, and the integration of renewable energy sources.

The US accounted for 78.32% revenue share of the North America power monitoring market in 2024, due to the expansion of smart cities, IoT-enabled energy management, and federal initiatives promoting clean energy.

The market in Asia Pacific is projected to reach USD 2.23 billion in 2034, owing to rapid industrialization and urbanization.

The market in Europe is projected to hold 27.47% revenue share in 2034 due to stringent EU regulations on energy efficiency and carbon neutrality. The rising adoption of electric vehicles and smart home technologies is also contributing to market growth in Europe.

A few global key market players include ABB; Eaton; Emerson Electric Co; General Electric (GE); Honeywell International Inc.; MachineQ; Mitsubishi Electric Corporation; Rockwell Automation, Inc.; Schneider Electric; Siemens AG; Socomec; and Yokogawa Electric Corporation.

Polaris Market Research has segmented the market report on the basis of component, end user, and region:

By Component Outlook (Revenue, USD Billion, 2020-2034)

Hardware

Software

Services

By End User Outlook (Revenue, USD Billion, 2020-2034)

Manufacturing & Process Industry

Data centers

Public Infrastructure

Utilities & Renewables

Electric Vehicle Charging Station

By Regional Outlook (Revenue, USD Billion, 2020-2034)

North America

Canada

Europe

Germany

France

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America

Product Code: PM3688

1. Global Power Monitoring Market-Report Overview

1.1. Scope of the report
1.2. Market Segment Analysis
1.3. Regulatory Scenario by Region/Country
1.4. Market Investment Scenario Strategic
1.5. Market Analysis by Component (USD BILLION)
- 1.5.1 Global Power Monitoring Market Size by Component (2024-2034)
- 1.5.2 Hardware
- 1.5.3 Software
- 1.5.4 Services
1.6. Market Analysis by End User (USD BILLION)
- 1.6.1 Global Power Monitoring Market Size by End User (2024-2034)
- 1.6.2 Manufacturing & Process Industry
- 1.6.3 Data centers
- 1.6.4 Public Infrastructure
- 1.6.5 Utilities & Renewables
- 1.6.6 Electric Vehicle Charging Station

2. driver restraint challenge and opportunities of Power Monitoring Market

2.1. Driver, Restraint, Challenge and Opportunities Analysis
- 2.1.1 Market Driver Analysis
  - 2.1.1.1 Rising Energy Costs
  - 2.1.1.2 Increasing Demand for Energy Efficiency
  - 2.1.1.3 Integration of Smart Grids and IoT
  - 2.1.1.4 Growing Industrial Automation and Digitalization
  - 2.1.1.5 Stringent Government Regulations and Sustainability Initiatives
- 2.1.2 Market Restraint Analysis
  - 2.1.2.1 High Initial Investment Costs
  - 2.1.2.2 Cybersecurity Concerns and Data Privacy Issues
- 2.1.3 Market Opportunity
  - 2.1.3.1 Adoption of IoT and AI in Power Monitoring
  - 2.1.3.2 Investment in Smart Grid Infrastructure
  - 2.1.3.3 Industrial Energy Efficiency and Sustainability Goals
  - 2.1.3.4 Expansion of Renewable Energy Projects
- 2.1.4 Market Challenges
  - 2.1.4.1 Integration Complexities with Legacy Infrastructure
  - 2.1.4.2 Shortage of Skilled Workforce and Technical Expertise

3. Global Growth Trends

3.1. Industry Trends
- 3.1.1 SWOT Analysis
  - 3.1.1.1 Strengths
  - 3.1.1.2 Weaknesses
  - 3.1.1.3 Opportunities
  - 3.1.1.4 Threats
- 3.1.2 PESTEL Analysis
  - 3.1.2.1 Political Landscape
  - 3.1.2.2 Economic Landscape
  - 3.1.2.3 Social Landscape
  - 3.1.2.4 Technological Landscape
  - 3.1.2.5 Environmental Landscape
  - 3.1.2.6 Legal Landscape
- 3.1.3 Porter's Five Forces Analysis
  - 3.1.3.1 Bargaining Power of Suppliers
  - 3.1.3.2 Bargaining Power of Buyers
  - 3.1.3.3 Threat of Substitute
  - 3.1.3.4 Threat of New Entrant
  - 3.1.3.5 Competitive Rivalry
3.2. Potential Market and Growth Potential Analysis

4. Covid-19 Analysis

4.1. COVID-19 Impact
4.2. Post COVID Analysis
- 4.2.1 COVID V Analysis
- 4.2.2 COVID U Analysis
- 4.2.3 COVID L Analysis
- 4.2.4 COVID W Analysis

5. Companies Analysis

5.1. Global Power Monitoring Market, Sales Area, Product Type
5.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Power Monitoring Market
5.3. Company List in the Global Power Monitoring Market

6. Exceutive Summary

7. Global Power Monitoring MARKET Forecast, 2020-2034, (USD BILLION)

7.1. Global Power Monitoring Market Size, (USD BILLION)

8. Global Power Monitoring Market Size and Market Share by Component (2020-2034), (USD BILLION)

8.1. Global Power Monitoring Market Size and Market Share by Component (2020-2026)
8.2. Global Power Monitoring Market Size and Market Share by Component (2027-2034)

9. Global Power Monitoring Market Size and Market Share by End User (2020-2034), (USD BILLION)

9.1. Global Power Monitoring Market Size and Market Share by End User (2020-2026)
9.2. Global Power Monitoring Market Size and Market Share by End User (2027-2034)

10. Global Power Monitoring Market Size and Market Share by Region (2020-2034), (USD BILLION)

10.1. Global Power Monitoring Market Size and Market Share by Region (2020-2026)
10.2. Global Power Monitoring Market Size and Market Share by Region (2027-2034)

11. North America Power Monitoring Market Size (2020-2034), (USD BILLION)

11.1. North America Power Monitoring Market Size by Country (2020-2026)
11.2. North America Power Monitoring Market Size by Country (2027-2034)
11.3. North America Power Monitoring Market Size by Component (2020-2026)
11.4. North America Power Monitoring Market Size by Component (2027-2034)
11.5. North America Power Monitoring Market Size by End User (2020-2026)
11.6. North America Power Monitoring Market Size by End User (2027-2034)
11.7. United States Power Monitoring Market Size by Component (2020-2026)
11.8. United States Power Monitoring Market Size by Component (2027-2034)
11.9. United States Power Monitoring Market Size by End User (2020-2026)
11.10. United States Power Monitoring Market Size by End User (2027-2034)
11.11. Canada Power Monitoring Market Size by Component (2020-2026)
11.12. Canada Power Monitoring Market Size by Component (2027-2034)
11.13. Canada Power Monitoring Market Size by End User (2020-2026)
11.14. Canada Power Monitoring Market Size by End User (2027-2034)

12. Europe Power Monitoring Market Size (2020-2034), (USD BILLION)

12.1. Europe Power Monitoring Market Size by Country (2020-2026)
12.2. Europe Power Monitoring Market Size by Country (2027-2034)
12.3. Europe Power Monitoring Market Size by Component (2020-2026)
12.4. Europe Power Monitoring Market Size by Component (2027-2034)
12.5. Europe Power Monitoring Market Size by End User (2020-2026)
12.6. Europe Power Monitoring Market Size by End User (2027-2034)
12.7. United Kingdom Power Monitoring Market Size by Component (2020-2026)
12.8. United Kingdom Power Monitoring Market Size by Component (2027-2034)
12.9. United Kingdom Power Monitoring Market Size by End User (2020-2026)
12.10. United Kingdom Power Monitoring Market Size by End User (2027-2034)
12.11. Germany Power Monitoring Market Size by Component (2020-2026)
12.12. Germany Power Monitoring Market Size by Component (2027-2034)
12.13. Germany Power Monitoring Market Size by End User (2020-2026)
12.14. Germany Power Monitoring Market Size by End User (2027-2034)
12.15. France Power Monitoring Market Size by Component (2020-2026)
12.16. France Power Monitoring Market Size by Component (2027-2034)
12.17. France Power Monitoring Market Size by End User (2020-2026)
12.18. France Power Monitoring Market Size by End User (2027-2034)
12.19. Spain Power Monitoring Market Size by Component (2020-2026)
12.20. Spain Power Monitoring Market Size by Component (2027-2034)
12.21. Spain Power Monitoring Market Size by End User (2020-2026)
12.22. Spain Power Monitoring Market Size by End User (2027-2034)
12.23. Italy Power Monitoring Market Size by Component (2020-2026)
12.24. Italy Power Monitoring Market Size by Component (2027-2034)
12.25. Italy Power Monitoring Market Size by End User (2020-2026)
12.26. Italy Power Monitoring Market Size by End User (2027-2034)
12.27. Netherlands Power Monitoring Market Size by Component (2020-2026)
12.28. Netherlands Power Monitoring Market Size by Component (2027-2034)
12.29. Netherlands Power Monitoring Market Size by End User (2020-2026)
12.30. Netherlands Power Monitoring Market Size by End User (2027-2034)
12.31. Russia Power Monitoring Market Size by Component (2020-2026)
12.32. Russia Power Monitoring Market Size by Component (2027-2034)
12.33. Russia Power Monitoring Market Size by End User (2020-2026)
12.34. Russia Power Monitoring Market Size by End User (2027-2034)
12.35. Rest of Europe Power Monitoring Market Size by Component (2020-2026)
12.36. Rest of Europe Power Monitoring Market Size by Component (2027-2034)
12.37. Rest of Europe Power Monitoring Market Size by End User (2020-2026)
12.38. Rest of Europe Power Monitoring Market Size by End User (2027-2034)

13. Asia Pacific Power Monitoring Market Size (2020-2034), (USD BILLION)

13.1. Asia Pacific Power Monitoring Market Size by Country (2020-2026)
13.2. Asia Pacific Power Monitoring Market Size by Country (2027-2034)
13.3. Asia Pacific Power Monitoring Market Size by Component (2020-2026)
13.4. Asia Pacific Power Monitoring Market Size by Component (2027-2034)
13.5. Asia Pacific Power Monitoring Market Size by End User (2020-2026)
13.6. Asia Pacific Power Monitoring Market Size by End User (2027-2034)
13.7. China Power Monitoring Market Size by Component (2020-2026)
13.8. China Power Monitoring Market Size by Component (2027-2034)
13.9. China Power Monitoring Market Size by End User (2020-2026)
13.10. China Power Monitoring Market Size by End User (2027-2034)
13.11. India Power Monitoring Market Size by Component (2020-2026)
13.12. India Power Monitoring Market Size by Component (2027-2034)
13.13. India Power Monitoring Market Size by End User (2020-2026)
13.14. India Power Monitoring Market Size by End User (2027-2034)
13.15. Japan Power Monitoring Market Size by Component (2020-2026)
13.16. Japan Power Monitoring Market Size by Component (2027-2034)
13.17. Japan Power Monitoring Market Size by End User (2020-2026)
13.18. Japan Power Monitoring Market Size by End User (2027-2034)
13.19. South Korea Power Monitoring Market Size by Component (2020-2026)
13.20. South Korea Power Monitoring Market Size by Component (2027-2034)
13.21. South Korea Power Monitoring Market Size by End User (2020-2026)
13.22. South Korea Power Monitoring Market Size by End User (2027-2034)
13.23. Indonesia Power Monitoring Market Size by Component (2020-2026)
13.24. Indonesia Power Monitoring Market Size by Component (2027-2034)
13.25. Indonesia Power Monitoring Market Size by End User (2020-2026)
13.26. Indonesia Power Monitoring Market Size by End User (2027-2034)
13.27. Malaysia Power Monitoring Market Size by Component (2020-2026)
13.28. Malaysia Power Monitoring Market Size by Component (2027-2034)
13.29. Malaysia Power Monitoring Market Size by End User (2020-2026)
13.30. Malaysia Power Monitoring Market Size by End User (2027-2034)
13.31. Rest of Asia Pacific Power Monitoring Market Size by Component (2020-2026)
13.32. Rest of Asia Pacific Power Monitoring Market Size by Component (2027-2034)
13.33. Rest of Asia Pacific Power Monitoring Market Size by End User (2020-2026)
13.34. Rest of Asia Pacific Power Monitoring Market Size by End User (2027-2034)

14. Latin America Power Monitoring Market Size (2020-2034), (USD BILLION)

14.1. Latin America Power Monitoring Market Size by Country (2020-2026)
14.2. Latin America Power Monitoring Market Size by Country (2027-2034)
14.3. Latin America Power Monitoring Market Size by Component (2020-2026)
14.4. Latin America Power Monitoring Market Size by Component (2027-2034)
14.5. Latin America Power Monitoring Market Size by End User (2020-2026)
14.6. Latin America Power Monitoring Market Size by End User (2027-2034)
14.7. Brazil Power Monitoring Market Size by Component (2020-2026)
14.8. Brazil Power Monitoring Market Size by Component (2027-2034)
14.9. Brazil Power Monitoring Market Size by End User (2020-2026)
14.10. Brazil Power Monitoring Market Size by End User (2027-2034)
14.11. Argentina Power Monitoring Market Size by Component (2020-2026)
14.12. Argentina Power Monitoring Market Size by Component (2027-2034)
14.13. Argentina Power Monitoring Market Size by End User (2020-2026)
14.14. Argentina Power Monitoring Market Size by End User (2027-2034)
14.15. Mexico Power Monitoring Market Size by Component (2020-2026)
14.16. Mexico Power Monitoring Market Size by Component (2027-2034)
14.17. Mexico Power Monitoring Market Size by End User (2020-2026)
14.18. Mexico Power Monitoring Market Size by End User (2027-2034)
14.19. Rest of Latin America Power Monitoring Market Size by Component (2020-2026)
14.20. Rest of Latin America Power Monitoring Market Size by Component (2027-2034)
14.21. Rest of Latin America Power Monitoring Market Size by End User (2020-2026)
14.22. Rest of Latin America Power Monitoring Market Size by End User (2027-2034)

15. Middle East & Africa Power Monitoring Market Size (2020-2034), (USD BILLION)

15.1. Middle East & Africa Power Monitoring Market Size by Country (2020-2026)
15.2. Middle East & Africa Power Monitoring Market Size by Country (2027-2034)
15.3. Middle East & Africa Power Monitoring Market Size by Component (2020-2026)
15.4. Middle East & Africa Power Monitoring Market Size by Component (2027-2034)
15.5. Middle East & Africa Power Monitoring Market Size by End User (2020-2026)
15.6. Middle East & Africa Power Monitoring Market Size by End User (2027-2034)
15.7. Saudi Arabia Power Monitoring Market Size by Component (2020-2026)
15.8. Saudi Arabia Power Monitoring Market Size by Component (2027-2034)
15.9. Saudi Arabia Power Monitoring Market Size by End User (2020-2026)
15.10. Saudi Arabia Power Monitoring Market Size by End User (2027-2034)
15.11. UAE Power Monitoring Market Size by Component (2020-2026)
15.12. UAE Power Monitoring Market Size by Component (2027-2034)
15.13. UAE Power Monitoring Market Size by End User (2020-2026)
15.14. UAE Power Monitoring Market Size by End User (2027-2034)
15.15. South Africa Power Monitoring Market Size by Component (2020-2026)
15.16. South Africa Power Monitoring Market Size by Component (2027-2034)
15.17. South Africa Power Monitoring Market Size by End User (2020-2026)
15.18. South Africa Power Monitoring Market Size by End User (2027-2034)
15.19. Israel Power Monitoring Market Size by Component (2020-2026)
15.20. Israel Power Monitoring Market Size by Component (2027-2034)
15.21. Israel Power Monitoring Market Size by End User (2020-2026)
15.22. Israel Power Monitoring Market Size by End User (2027-2034)
15.23. Rest of MEA Power Monitoring Market Size by Component (2020-2026)
15.24. Rest of MEA Power Monitoring Market Size by Component (2027-2034)
15.25. Rest of MEA Power Monitoring Market Size by End User (2020-2026)
15.26. Rest of MEA Power Monitoring Market Size by End User (2027-2034)

16. Company Profiles

16.1. ABB
- 16.1.1 Company Details
- 16.1.2 Financials (USD BILLIONS)
- 16.1.3 Product Summary
- 16.1.4 Recent Developments
16.2. Eaton
- 16.2.1 Company Details
- 16.2.2 Financials (USD BILLIONS)
- 16.2.3 Product Summary
- 16.2.4 Recent Developments
16.3. Emerson Electric Co
- 16.3.1 Company Details
- 16.3.2 Financials (USD BILLIONS)
- 16.3.3 Product Summary
- 16.3.4 Recent Developments
16.4. General Electric (GE)
- 16.4.1 Company Details
- 16.4.2 Financials (USD BILLIONS)
- 16.4.3 Product Summary
- 16.4.4 Recent Developments
16.5. Honeywell International Inc.
- 16.5.1 Company Details
- 16.5.2 Financials (USD BILLIONS)
- 16.5.3 Product Summary
- 16.5.4 Recent Developments
16.6. Mitsubishi Electric Corporation
- 16.6.1 Company Details
- 16.6.2 Financials (USD BILLIONS)
- 16.6.3 Product Summary
- 16.6.4 Recent Developments
16.7. Rockwell Automation, Inc.
- 16.7.1 Company Details
- 16.7.2 Financials (USD BILLIONS)
- 16.7.3 Product Summary
- 16.7.4 Recent Developments
16.8. Schneider Electric
- 16.8.1 Company Details
- 16.8.2 Financials (USD BILLIONS)
- 16.8.3 Product Summary
- 16.8.4 Recent Developments
16.9. Siemens AG
- 16.9.1 Company Details
- 16.9.2 Financials (USD BILLIONS)
- 16.9.3 Product Summary
- 16.9.4 Recent Developments
16.10. Socomec
- 16.10.1 Company Details
- 16.10.2 Financials (USD BILLIONS)
- 16.10.3 Product Summary
16.11. Yokogawa Electric Corporation
- 16.11.1 Company Details
- 16.11.2 Financials (USD BILLIONS)
- 16.11.3 Product Summary
- 16.11.4 Recent Developments

17. Conclusion

18. Reference Link

19. Appendix

19.1. Methodology
19.2. Research Data Source
- 19.2.1 Secondary Data
- 19.2.2 Key Data from Secondary
- 19.2.3 Primary Data
- 19.2.4 Key Data from Primary
- 19.2.5 Industry Insight from Professional Leaders
- 19.2.6 Market Estimation
- 19.2.7 Market Estimation: Top-down and Bottom-up Approach
- 19.2.8 Legal Disclaimer