Circuit Monitoring Market Forecast to Surpass $829 million by 2028

According to a new market research report, the global circuit monitoring market is projected to reach USD 829 million by 2028 from an estimated USD 659 million in 2023, at a CAGR of 4.7% during the forecast period. Factors such as huge investments, along with enforcement of stringent standards, to reduce carbon footprint in data centers are driving the growth of the circuit monitoring market.

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Key Market Players

The circuit monitoring market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network. ABB (Switzerland), Schneider Electric (France), Eaton (Ireland), Toshiba International Corporation (Japan), and Legrand (Ireland) are the market leaders in the global circuit monitoring market. These companies use strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions to increase their market share.

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This research report categorizes the circuit monitoring market by type, end user, and region.
On the basis of by type:

Modular Circuit Monitoring
Others

On the basis of end user:

Residential
Data Centers
Industrial
Commercial

On the basis of region:

Asia Pacific
Europe
North America
Middle East & Africa
South America

The Industrial segment, by end user, is expected to be the second fastest growing segment during the forecast period

This report segments the circuit monitoring market based on end users into four segments: data centers, commercial, industrial, and residential. The industrial segment is expected to be the second fastest growing segment during the forecast period. Maximizing machine uptime, increased efficiency and lower costs are the features driving the indusrtial segment for circuit monitoring market.

The others segment, by type, is expected to be the largest market during the forecast period.

This report segments the circuit monitoring market based on type into two types: Modular circuit monitoring, and others. The others segment is expected to be the largest market during the forecast period. The others segment include branch circuit monitoring, and multi circuit monitoring. Both multi-circuit monitors and branch circuit monitors are compact and, hence, use lesser space as compared to traditional single-circuit energy meters. These are used by industries, data centers, and commercial and residential end users

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Europe is expected to be the second largest region in the circuit monitoring market

Europe is expected to be the second largest circuit monitoring market during the forecast period. Commercial data center market is expanding at an unprecedented speed across Europe. The UK set Euro 400 million fast-track for government data centers for government offices and commercial sectors, also countries in this region are focusing on developing cloud technology and infrastructure. For instance, Emerson (US) rapidly deployed one of the t-systems' largest modular data centers in Europe to maximize the availability, capacity, and efficiency of critical infrastructure. These factors are expected to fuel the growth of the circuit monitoring market in the region.

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