Branch Circuit Monitoring Market Share Projections: CAGR of 5.5% Envisions Market Size of $1.24 Billion by 2033
Branch Circuit Monitoring market size from USD 0.73 Billion in 2023 to USD 1.24 Billion in 10 years. Requirements for electricity stability in the global market will drive the Branch Circuit Monitoring market's growth.
Newark, May 24, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 0.73 Billion branch circuit monitoring market will reach USD 1.24 Billion by 2033. Measures to reduce carbon footprints in the market and strategic initiatives by the private players in the market may fuel the growth of the Branch Circuit Monitoring Market. Data centers play a major role in carbon emissions and consume significant quantities of water and electricity. In Singapore, for example, the Infocomm Media Development Authority (IMDA) implemented measures to control data center growth, including a ban on new projects starting in 2019 and a temporary halt to development. Utilizing circuit monitoring can aid data centers in curbing their energy usage, reducing carbon emissions, and lessening their environmental footprint. This is essential as data processing and storage demands escalate, amplifying the importance of data centers in the global technological landscape.*The Full Study is Readily Available | Download the Sample Pages of this Report @ https://www.thebrainyinsights.com/enquiry/sample-request/14340 **Scope of Branch Circuit Monitoring Market**Report Coverage* *Details*
CAGR 5.5% from 2024 to 2033
Market Size in 2023 USD 0.73 Billion
Market Size by 2033 USD 1.24 Billion
Largest Market APAC
Base Year 2023
Forecast Year 2024 to 2033
Historical Year 2020-2022
Segments Covered by Type, End User, Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Branch Circuit Monitoring Market Size by (Modular Circuit Monitoring and Others), By End User (Data Centers, Commercial, Industrial, and Residential), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033APAC emerged as the largest global Branch Circuit Monitoring market, accounting for 45% of the total market. Further, it is expected to be the fastest-growing in the market. Owing to rapid industrialization and urbanization in the region coupled with advancements in the technology.*In 2023, the "others" segment emerged as the market leader, capturing the largest revenue share at 57%.*In 2023, the "others" segment emerged as the market leader, capturing the largest revenue share at 57%. This segment encompasses branch circuit monitoring and multi-circuit monitoring solutions. Both branch circuit monitors and multi-circuit monitors offer space-efficient alternatives to traditional single-circuit energy meters, occupying less space. These solutions find applications across various sectors, including businesses, data centers, and end users in both commercial and residential settings.*In 2023, the data centers segment dominated the market, capturing the highest revenue share at 40%.*In 2023, the data centers segment dominated the market, capturing the highest revenue share at 40%. The segment's growth is primarily fueled by the increasing adoption of circuit monitoring solutions within data centers for remote monitoring and performance evaluation of power usage. As the utilization of data centers is projected to surge, driven by the growing internet adoption and escalating data volumes, this segment is anticipated to be the fastest-growing in the market during the forecasted period.*Personalized your customization here: https://www.thebrainyinsights.com/enquiry/request-customization/14340 **Latest Development:*• In April 2023, ABB introduced CogniEN, a monitoring solution designed for low and medium-voltage electrical equipment. This innovative product enables users to promptly identify issues within their electrical installations, facilitating faster response from maintenance teams. Moreover, CogniEN is hosted on AWS, enhancing its accessibility and scalability.• In May 2022, Schneider Electric launched SureSeT MV switchgear in the North American market. When paired with EvoPacT, this combination delivers a range of benefits including a compact design, enhanced operational safety, and prolonged lifetime.• In January 2022, Eaton completed the acquisition of Royal Power Solutions, a manufacturer of high-precision electrical components based in the United States. This strategic acquisition strengthens Eaton's position in key sectors such as aerospace, electrical, and eMobility, enabling it to capitalize on emerging growth opportunities.• In March 2021, Eaton acquired Tripp Lite, a US-based manufacturer of power supply systems. This acquisition expands Eaton's portfolio of edge computing and IT products, further diversifying its offerings in the market.*Market Dynamics**Drivers: Requirements for electricity stability in the global market*Electricity is a fundamental and indispensable requirement for the functioning of economies and industries. However, many regions suffer from inadequate power distribution infrastructure. With the increasing power density in modern industrial and commercial applications, there is a growing focus on improving the efficiency of power distribution infrastructure. Circuit monitoring units play a pivotal role in enabling effective power monitoring to enhance efficiency. These units serve as the cornerstone for ensuring optimal power distribution and utilization.*Restraints: Further improvements in the energy monitoring systems*Energy management systems are deployed across various sectors including data centers, businesses, residential and commercial establishments, and other facilities. These systems offer numerous benefits such as enhanced safety, increased productivity, improved power quality, and greater scalability. While circuit monitoring systems play a role in monitoring and to some extent measuring power quality, energy management systems provide a broader range of functions and advantages. As a result, end users in commercial, data center, residential, and industrial sectors are increasingly adopting energy management systems due to their comprehensive capabilities and benefits.*Opportunities: Measures to reduce carbon footprints in the market*Data centers play a major role in carbon emissions and consume significant quantities of water and electricity. In Singapore, for example, the Infocomm Media Development Authority (IMDA) implemented measures to control data center growth, including a ban on new projects starting in 2019 and a temporary halt to development. Utilizing circuit monitoring can aid data centers in curbing their energy usage, reducing carbon emissions, and lessening their environmental footprint. This is essential as data processing and storage demands escalate, amplifying the importance of data centers in the global technological landscape.*Challenge: Disruptions in the supply chain globally*Supply chain disruptions frequently result in shortages of vital components and materials necessary for manufacturing branch circuit monitoring equipment. Consequently, this can trigger production delays and bottlenecks, ultimately constraining product availability and impacting delivery schedules. Moreover, disruptions in the supply chain, such as delays in transportation or halts in production, can prolong lead times for branch circuit monitoring equipment. Manufacturers may face difficulties in promptly sourcing components and raw materials, leading to delays in meeting customer orders and completing installations.*Some of the major players operating in the Branch Circuit Monitoring market are:*• ABB Group
• Schneider Electric SE
• Eaton Corporation PLC
• Legrand Group
• NHP Electrical Engineering Products Pty Ltd
• Omron Corporation
• Daxten Ltd
• Elecon Measurements Private Limited (Elmeasure)
• Jiangsu Acrel Electrical Manufacturing Co., LTD. (Acrel Co., Ltd.)
• Bay Power Inc*Key Segments cover in the market:*By Type:• Modular Circuit Monitoring
• OthersBy End-User:• Data Centers
• Commercial
• Industrial
• Residential*Immediate Delivery Available | Buy This Premium Research Report @ https://www.thebrainyinsights.com/buy-now/14340/single **About the report:*The global Branch Circuit Monitoring market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.*About The Brainy Insights:*The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.*Contact Us*Avinash D
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