Power Monitoring Market Size, Share, Trends, & Industry Analysis Report By Component (Hardware, Software, and Services), By End User, By Region – Market Forecast, 2025–2034
Description
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
US
Canada
Europe
Germany
France
UK
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
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
US
Canada
Europe
Germany
France
UK
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
Table of Contents
117 Pages
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. Global Power Management IC Market Insights
- 4.1. Power Management IC Market – Market Snapshot
- 4.2. Power Management IC Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing Adoption of Electric Vehicles is Driving the Power Management IC Market Growth
- 4.2.1.2. Expansion Of Wireless Communication Infrastructure is Driving the Market Growth
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Initial Costs are Hindering the Adoption of Power Management IC Solutions
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Power Management IC Market Application Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
- 5. Global Power Management IC Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Power Management IC Market, by Type, 2020-2034 (USD billion)
- 5.3. Battery Management IC
- 5.3.1. Global Power Management IC Market, by Battery Management IC, by Region, 2020-2034 (USD billion)
- 5.4. Motor Control IC
- 5.4.1. Global Power Management IC Market, by Motor Control IC, by Region, 2020-2034 (USD billion)
- 5.4.2. Voltage Regulator
- 5.4.2.1. Global Power Management IC Market, by Voltage Regulator, by Region, 2020-2034 (USD billion)
- 5.4.3. Multi-Channel Power Management IC
- 5.4.3.1. Global Power Management IC Market, by Multi-Channel Power Management IC, by Region, 2020-2034 (USD billion)
- 5.4.4. Integrated ASSP Power Management IC
- 5.4.4.1. Global Power Management IC Market, by Integrated ASSP Power Management IC, by Region, 2020-2034 (USD billion)
- 5.4.5. Others
- 5.4.5.1. Global Power Management IC Market, by Others, by Region, 2020-2034 (USD billion)
- 6. Global Power Management IC Market, by End-User
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 6.3. Automotive
- 6.3.1. Global Power Management IC Market, by Automotive, by Region, 2020-2034 (USD billion)
- 6.4. Consumer Electronics
- 6.4.1. Global Power Management IC Market, by Consumer Electronics, by Region, 2020-2034 (USD billion)
- 6.5. Industrial
- 6.5.1. Global Power Management IC Market, by Industrial, by Region, 2020-2034 (USD billion)
- 6.6. Computing
- 6.6.1. Global Power Management IC Market, by Computing, by Region, 2020-2034 (USD billion)
- 6.7. Communication
- 6.7.1. Global Power Management IC Market, by Communication, by Region, 2020-2034 (USD billion)
- 6.8. Building & Automation
- 6.8.1. Global Power Management IC Market, by Building & Automation, by Region, 2020-2034 (USD billion)
- 6.9. Retail
- 6.9.1. Global Power Management IC Market, by Retail, by Region, 2020-2034 (USD billion)
- 6.10. Healthcare
- 6.10.1. Global Power Management IC Market, by Healthcare, by Region, 2020-2034 (USD billion)
- 6.11. Others
- 6.11.1. Global Power Management IC Market, by Others, by Region, 2020-2034 (USD billion)
- 7. Global Power Management IC Market, by Geography
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Power Management IC Market Assessment, By Geography, 2020-2034 (USD billion)
- 7.3. Power Management IC Market – North America
- 7.3.1. North America: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.3.2. North America: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.3.3. Power Management IC Market – US
- 7.3.3.1. US: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.3.3.2. US: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.3.4. Power Management IC Market – Canada
- 7.3.4.1. Canada: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.3.4.2. Canada: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4. Power Management IC Market – Europe
- 7.4.1. Europe: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.2. Europe: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.3. Power Management IC Market – UK
- 7.4.3.1. UK: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.3.2. UK: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.4. Power Management IC Market – France
- 7.4.4.1. France: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.4.2. France: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.5. Power Management IC Market – Germany
- 7.4.5.1. Germany: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.5.2. Germany: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.6. Power Management IC Market – Italy
- 7.4.6.1. Italy: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.6.2. Italy: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.7. Power Management IC Market – Spain
- 7.4.7.1. Spain: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.7.2. Spain: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.8. Power Management IC Market – Netherlands
- 7.4.8.1. Netherlands: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.8.2. Netherlands: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.9. Power Management IC Market – Russia
- 7.4.9.1. Russia: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.9.2. Russia: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.4.10. Power Management IC Market – Rest of Europe
- 7.4.10.1. Rest of Europe: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.4.10.2. Rest of Europe: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5. Power Management IC Market – Asia Pacific
- 7.5.1. Asia Pacific: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.2. Asia Pacific: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.3. Power Management IC Market – China
- 7.5.3.1. China: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.3.2. China: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.4. Power Management IC Market – India
- 7.5.4.1. India: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.4.2. India: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.5. Power Management IC Market – Malaysia
- 7.5.5.1. Malaysia: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.5.2. Malaysia: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.6. Power Management IC Market – Japan
- 7.5.6.1. Japan: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.6.2. Japan: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.7. Power Management IC Market – Indonesia
- 7.5.7.1. Indonesia: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.7.2. Indonesia: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.8. Power Management IC Market – South Korea
- 7.5.8.1. South Korea: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.8.2. South Korea: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.9. Power Management IC Market – Australia
- 7.5.9.1. Australia: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.9.2. Australia: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.5.10. Power Management IC Market – Rest of Asia Pacific
- 7.5.10.1. Rest of Asia Pacific: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.5.10.2. Rest of Asia Pacific: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.6. Power Management IC Market – Middle East & Africa
- 7.6.1. Middle East & Africa: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.6.2. Middle East & Africa: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.6.3. Power Management IC Market – Saudi Arabia
- 7.6.3.1. Saudi Arabia: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.6.3.2. Saudi Arabia: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.6.4. Power Management IC Market – UAE
- 7.6.4.1. UAE: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.6.4.2. UAE: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.6.5. Power Management IC Market – Israel
- 7.6.5.1. Israel: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.6.5.2. Israel: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.6.6. Power Management IC Market – South Africa
- 7.6.6.1. South Africa: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.6.6.2. South Africa: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.6.7. Power Management IC Market – Rest of Middle East & Africa
- 7.6.7.1. Rest of Middle East & Africa: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.6.7.2. Rest of Middle East & Africa: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.7. Power Management IC Market – Latin America
- 7.7.1. Latin America: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.7.2. Latin America: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.7.3. Power Management IC Market – Mexico
- 7.7.3.1. Mexico: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.7.3.2. Mexico: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.7.4. Power Management IC Market – Brazil
- 7.7.4.1. Brazil: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.7.4.2. Brazil: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.7.5. Power Management IC Market – Argentina
- 7.7.5.1. Argentina: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.7.5.2. Argentina: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 7.7.6. Power Management IC Market – Rest of Latin America
- 7.7.6.1. Rest of Latin America: Power Management IC Market, by Type, 2020-2034 (USD billion)
- 7.7.6.2. Rest of Latin America: Power Management IC Market, by End-User, 2020-2034 (USD billion)
- 8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
- 9. Company Profiles
- 9.1. Texas Instruments Incoporated
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Onsemi
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Analog Devices Inc.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. ROHM Co. Ltd
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Vishay Intertechnology Inc.
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Infineon Technologies AG
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. STMicroelectronics N.V.
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Mouser Electronics India
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. NXP
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Renesas Electronics Corp.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
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