The Europe Circuit Monitoring Market would witness market growth of 4.6% CAGR during the forecast period (2023-2029).
Due to the flexible power distribution method that this circuit monitoring offers, many data centers utilize it. PDUs and panelboards are often replaced and changed to accommodate the dynamic data center environment. To prevent rebuilding or replacing the existing meters, circuit monitoring ensures that the power monitoring devices can react when the power varies. The best practice in power monitoring is obtaining utility-grade accuracy within one percent of the actual amount of power consumed. Hence, co-located data centers and other types of data centers can fairly rebill customers for energy costs owing to a utility-grade degree of accuracy.
The operations and engineering teams need a complete picture of the facility's power use, which is typically only possible through cumbersome and expensive networks of protocol conversions, middleware, and data analysis. The failure points, and expenses connected with a monitoring deployment can be decreased by features like onboard data logging, onboard Ethernet, onboard alarms, and an accessible web interface.
The German government is always working to develop the nation's digital economy. The German government intends to contribute to the advancement of AI. The industry is dominated by cloud and colocation providers. Additionally, a new investor has entered the German data center industry with ambitions to construct a facility there. Due to the pandemic, businesses, government organizations, and the education sector have surged the usage of cloud in the nation. The adoption of circuit monitoring will increase due to the growing number of data centers with the expanding digitalization and 5G trends, driving the market expansion in the region.
The Germany market dominated the Europe Circuit Monitoring Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $60.3 Million by 2029. The UK market is estimated to grow at a CAGR of 3.7% during (2023 - 2029). Additionally, The France market would showcase a CAGR of 5.4% during (2023 - 2029).
Based on Type, the market is segmented into Modular Circuit Monitoring and Others. Based on End User, the market is segmented into Data Centers, Commercial, Industrial, and Residential. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Circuit Monitoring Market is Projected to reach USD 867.6 Million by 2029, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Eaton Corporation PLC, Legrand Group, NHP Electrical Engineering Products Pty Ltd., Omron Corporation, Daxten Ltd., Elecon Measurements Private Limited (Elmeasure), Jiangsu Acrel Electrical Manufacturing Co., LTD. (Acrel Co., Ltd.) and Bay Power, Inc.
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