Power Monitoring Market Size to Reach $10.56 billion at a CAGR of 7.3% by 2031 | MarketsandMarkets™

Delray Beach, FL, Sept. 15, 2026 (GLOBE NEWSWIRE) -- MarketsandMarkets™ projects the Power Monitoring Market size will grow to USD 10.56 billion by 2031 from USD 7.41 billion in 2026, at a CAGR of 7.3% during the forecast period in terms of value. The global Power Monitoring Market is a high-growth, strategically important sector fueled by rapid industrialization, rising demand for real-time power quality analysis and energy optimization, the development of smart grid infrastructure, and the ongoing need for a reliable, efficient electricity supply across power-intensive regions. These developments are driven by the rising demand for efficient, reliable, and high-performance power monitoring solutions in industrial, commercial, data center, healthcare, telecom, utility, and residential markets. With the changing nature of grid reliability challenges, frequent voltage fluctuations, harmonic distortions, renewable energy integration issues, and the increasing electricity demand in emerging economies, power monitoring systems are becoming increasingly important in guaranteeing the quality of power, operational continuity, rapid response to disturbances, and overall system resilience. Advanced power monitoring technologies include high-accuracy metering devices, IoT-enabled sensors, real-time analytics platforms, AI-driven predictive algorithms, automatic alerts, harmonic mitigation tools, and seamless integration with SCADA, BMS, and cloud systems. These functions are proving more critical than ever for addressing power quality problems, intermittency of renewables, system resilience during peak demand, energy security, and meeting demanding regulatory, efficiency, and sustainability standards.

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Power Monitoring Market Size, Share & Forecast:

• Market Size Available for Years: 2022–2031
• 2025 Market Size: USD 6.89 billion
• 2031 Projected Market Size: USD 10.56 billion
• CAGR: 7.3% from 2026-2031
• Region Highlight:  North America, Asia Pacific, Europe, the Middle East & Africa, Latin America
• Report scope: 432 market data tables, 72 figures, 369 pages
• Key players: Schneider Electric (France), Siemens (Germany), ABB (Switzerland), Eaton (US), and Honeywell International Inc. (US)

The Power Monitoring Market is categorized into three component categories: Hardware, software, and services. The hardware segment is expected to dominate the market and hold the largest share during the forecast period. This dominance is driven by the rapid expansion of large-scale industrial facilities, data centers, manufacturing plants, mining operations, hospitals, commercial complexes, and critical infrastructure projects that require robust, high-accuracy physical devices for continuous power monitoring. Hardware components, including smart meters, power quality analyzers, current transformers, voltage sensors, data acquisition units, communication gateways, and panel-mounted monitoring devices, form the essential foundation of any power monitoring system. These devices are commonly deployed in utility substations, industrial plants, data centers, commercial buildings, and renewable energy installations. They enable precise measurement of key electrical parameters such as voltage, current, power factor, harmonics, energy consumption, and transients with high accuracy even under demanding operating conditions. Key features of advanced power monitoring hardware include high sampling rates, robust industrial-grade design for harsh environments, support for multiple communication protocols (Modbus, IEC 61850, Ethernet, etc.), real-time data capture, built-in data logging, and seamless integration with existing electrical infrastructure. Higher-end hardware solutions are widely used in mission-critical applications where reliability, durability, and minimal maintenance are crucial. They provide the physical backbone that allows efficient data collection, early fault detection, and stable operation of the entire monitoring ecosystem. While software and services segments are growing rapidly due to increasing demand for analytics platforms, cloud dashboards, and ongoing maintenance contracts, hardware continues to account for the largest share of market revenue because no monitoring system can function without reliable, field-proven physical components at its core.

The Power Monitoring Market can be divided into eight end-use segments: Utilities, data centers, buildings, industrial, renewable energy, telecom, railways & metros, and other end uses. The industrial segment is likely to account for the largest share during the forecast period, primarily due to its ability to provide reliable, continuous, and highly accurate real-time insights into electrical parameters for complex manufacturing processes, heavy machinery operations, and mission-critical industrial applications. The building segment is experiencing constant growth owing to the rapid development of office complexes, retail parks, hospitals, hotels, educational institutions, airports, and large commercial facilities. These applications require reliable power monitoring for optimal energy management, power quality assurance, automatic alerts for anomalies, load balancing, billing accuracy, and seamless integration with building management systems (BMS) to support high-priority operations and maintain performance during peak demand or disturbances. Commercial users prioritize user-friendly interfaces, quick deployment, low maintenance, compliance with local energy codes, and uninterrupted monitoring for sensitive equipment and daily customer operations. The data centers segment is also experiencing strong demand driven by the explosive growth of digital infrastructure and the need for ultra-reliable power quality to protect servers and networking equipment from even minor voltage fluctuations or harmonics. The utilities segment uses power monitoring extensively for grid stability, renewable integration, and distribution network optimization, while the renewable energy segment relies on these systems to effectively monitor solar and wind installations.

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By region

Europe is the second-largest region in the Power Monitoring Market, driven by a strong emphasis on grid modernization, renewable energy integration, strict energy-efficiency regulations, and rising demand for power quality in the industrial and commercial sectors. Countries such as Germany, France, the UK, and Italy lead the adoption, supported by ambitious national and EU-wide targets for carbon neutrality and digital energy infrastructure. The region benefits from concerted efforts toward smart grid deployment, large-scale renewable projects, data center expansion, and industrial automation. Government policies, including the EU Green Deal, Energy Efficiency Directive, Renewable Energy Directive, and national recovery plans, are accelerating investments in advanced power monitoring systems. These regulations push industries, utilities, and building operators to improve energy transparency, reduce losses, and maintain high power quality standards amid increasing shares of solar and wind power. The European Commission and national energy agencies highlight that much of the growth in electricity demand will come from data centers, electric vehicle charging infrastructure, semiconductor manufacturing, and the electrification of heating and transport. This creates urgent requirements for real-time monitoring, harmonic mitigation, voltage stability, and predictive analytics to prevent disruptions and ensure grid stability. Power monitoring solutions are widely deployed across manufacturing plants, commercial buildings, hospitals, utilities, and renewable energy installations. They help organizations achieve compliance with standards such as EN 50160, support ISO 50001 energy management systems, enable demand response programs, and optimize energy costs. Major players like Schneider Electric, Siemens, ABB, and Eaton have expanded their presence in the region through technology localization, R&D centers, strategic partnerships, and after-sales service networks to meet the growing need for reliable and intelligent power monitoring solutions.

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Competitive Landscape

Companies operating in the Power Monitoring Market are Schneider Electric (France), Siemens (Germany), ABB (Switzerland), Eaton (US), and Honeywell International Inc. (US). The major strategies adopted by these players include agreements, collaborations, investments, partnerships, product launches, and acquisitions.

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Report Code: EP 5516 | Published: 14-May-26 | Report Pages: 369 | Market Data Tables: 432| Figures: 72