Expected to reach US$ 4,318.6 Million by 2022-end, the market for industrial power monitoring system is likely to flourish at a CAGR of 4.2% from 2022-2032. By the end of the said forecast period, the industrial power monitoring system market is poised to be valued at US$ 6,534.7 Million. The growth is attributed to the increasing emphasis on efficient use of power resources, mounting attention to decreasing costs, and increasing the reliability of electrical infrastructure.
“Increasing consumption of power in the end-use industries such as Mining & Mineral, Oil & gas industry has augmented the need for developing a unique system to monitor the power consumption.”
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Manufacturing plants, energy and utilities, mining and metallurgy, and commercial establishments, whether complex or large, require centralised monitoring of energy, power, and control. The industrial power monitoring system assists an industrial enterprise in monitoring power distribution and consumption, as well as achieving energy efficiency through well-planned procedures and methods that aid in overall cost savings.
These savings range from savings in energy unit consumed per hour to maximum demand charges, controlling energy wastages, allowing for better manpower utilisation and avoiding critical breakdowns in electrical systems, among other things. Industrial power monitoring systems enable the monitoring of power distribution, backup power systems, and power quality in core operations and utilities. It provides detailed information needed to prevent.
They are energy efficient as they understand the total power usage of the data center or the facility, and use that information to maintain severe utilization,UPS efficiency, and more. Industrial power monitoring systems also track the power consumption of industry to calculate utilization for the energy being used by the facility. The related data can be lost or corrupted If Power fluctuates even for a second.
A momentary disturbance can trigger damage that requires hours of data recovery time. Also, can cause a malfunction in crucial servers and processes and can damage sensitive components. Industrial power monitoring systems can manage or remotely control an enterprise-wide network of many UPSs or provide power protection to complete infrastructure.
Key Players:
- ABB Ltd
- CISCO Systems
- Emerson Electric Company
- Eaton Corporation PLC
- EnerNOC, Inc.
- General Electric Company
- Honeywell International, Inc.
- Rockwell Automation
- Schneider Electric SE
- Siemens AG
