New Revenue Pockets:

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. Increasing number of data centers, and rising concern overpower stability for uninterrupted business operation is driving the market for Circuit Monitoring Market.

Key Market Players

Prominent companies in this market include ABB (Switzerland), Schneider Electric (France), Eaton (Ireland), Toshiba International Corporation (Japan), and Legrand (Ireland).

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Strong growth from enterprise shift towards cloud applications, and huge investments, along with enforcement of stringent standards, to reduce carbon footprint in data centers . For instance, regulatory bodies and governments, such as the International Organization for Standardization, and American National Standards Institute, are imposing sustainability standards on newly built data center. These are the few major factors driving the circuit monitoring market growth.

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 second fastest growing 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.

This report segments the circuit monitoring market based on end users into four segments: data centers, commercial, industrial, and residential. The data center segment is expected to be the fastest growing segment during the forecast period. The data centers segment is driven by the heightened adoption of circuit monitoring in data centers for remote monitoring and the determination of power usage effectiveness.

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Asia Pacific is expected to fastest growing region in the circuit monitoring market between 2023–2028, followed by the Middle East and Africa,  and South America America. Leading companies, including Google (US), Amazon Web Services (US), and Microsoft (US), are investing heavily in Asia Pacific and building regional data center facilities is one of the key factors fostering the growth of the circuit monitoring in the Asia Pacific