Power and Energy Monitoring System Market Size is Expected to Reach USD 9.86 Billion by 2033, Growing at a CAGR of 7.31%: Market Strides

Power and Energy Monitoring System Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By End-User (Industrial, Commercial, Residential), By Applications (Energy Management, Power Quality Monitoring, Load Management, Grid Monitoring), By Region, And Segment Forecasts, 2025– 2033

/EIN News/ -- New York, United States, March 18, 2025 (GLOBE NEWSWIRE) -- As per the Latest Report by Market Strides, the global power and energy monitoring system market size was valued at USD 5.23 billion in 2024 and is estimated to reach USD 9.86 billion by 2033, growing at a CAGR of 7.31% during the forecast period (2025–2033).

A Power and Energy Monitoring System is a technology-based solution designed to monitor, analyze, and optimize energy usage across different sectors, such as industrial, commercial, and residential environments. The system includes hardware components like meters and sensors, software for data analysis, and services for setup and maintenance.

By offering real-time visibility into energy consumption, these systems help businesses and individuals cut down on energy expenses, boost efficiency, and stay compliant with energy regulations. Additionally, they are essential for integrating renewable energy sources, improving power quality monitoring, and supporting sustainability efforts by reducing waste and enhancing overall energy management.

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Growing Adoption of Renewable Energy Sources Fuels Demand for Power and Energy Monitoring Systems

A significant driver of the increasing demand for power and energy monitoring systems is the rising shift toward renewable energy. As governments and industries work to reduce carbon emissions, the integration of renewable energy sources like solar, wind, and hydro into existing power grids necessitates real-time monitoring to maintain efficiency and stability.

• For instance, Queensland, Australia, is nearing the completion of the Munna Creek Solar Farm, a 120 MW project set to provide electricity to around 41,100 homes. This project underscores the crucial role of monitoring systems in managing renewable energy distribution. Additionally, with global investments in clean energy surpassing $1.7 trillion in 2023, advanced monitoring solutions are vital to optimize energy flows, prevent grid overloads, and ensure seamless renewable energy integration into power networks.

Advancements in AI and Big Data Analytics Enhance Power and Energy Monitoring Systems

The integration of artificial intelligence (AI) and big data analytics is revolutionizing power and energy monitoring systems by enabling predictive maintenance, real-time energy optimization, and anomaly detection. AI-driven solutions can process vast data sets to identify inefficiencies and propose energy-saving strategies.

• For example, Google’s DeepMind AI has successfully reduced cooling costs at its data centers by 40% through intelligent energy management. Similarly, AI-powered grid monitoring in Europe is improving the integration of renewable energy by predicting power fluctuations and optimizing distribution. As energy demands grow, leveraging AI and big data will become increasingly important in boosting efficiency, lowering operational costs, and promoting sustainable energy consumption.

Regional Analysis

North America dominates the global power and energy monitoring system market, driven by its advanced energy infrastructure, robust regulatory policies, and the widespread adoption of smart grid technologies. The region’s emphasis on energy efficiency, carbon reduction, and renewable energy integration fuels the demand for real-time monitoring solutions. Notably, the U.S. Department of Energy has heavily invested in smart grid modernization, such as the North American SynchroPhasor Initiative, to improve grid reliability. In 2023, Texas deployed AI-powered grid monitoring to optimize power distribution and prevent blackouts during extreme weather, while companies like Schneider Electric and Honeywell are expanding their smart energy solutions across the region.

Key Highlights 

• The hardware segment dominates the market, including sensors, meters, and controllers for energy tracking.
• The industrial segment leads, driven by the need for efficiency and cost savings in manufacturing.
• Energy management is the largest application in the market.
• North America holds the largest market share due to advanced infrastructure and smart grid adoption.

Competitive Players

• Schneider Electric
• Siemens AG
• General Electric (GE)
• ABB Ltd.
• Eaton Corporation
• Honeywell International Inc.
• Rockwell Automation, Inc.
• Emerson Electric Co.
• Mitsubishi Electric Corporation
• Schweitzer Engineering Laboratories (SEL)

Recent Developments

• October 2024 – Schneider Electric unveiled its expanded smart grid solutions for North American utilities. Their new energy monitoring platforms integrate advanced AI and big data analytics to optimize energy consumption and support sustainability goals. This includes tools for real-time monitoring, energy storage management, and predictive maintenance, helping reduce operational downtime and improve energy efficiency across commercial and industrial sectors.

Segmentation

By Component

• Hardware
• Software
• Services

By End-User

• Industrial
• Commercial
• Residential

By Applications

• Energy Management
• Power Quality Monitoring
• Load Management
• Grid Monitoring

By Regions

• North America
• Europe
• APAC
• Middle East and Africa
• LATAM

Access the Comprehensive Table of Contents @ https://marketstrides.com/report/power-and-energy-monitoring-system-market/toc

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