According to a new report, published by KBV research, The Global Circuit Monitoring Market size is expected to reach $867.6 Million by 2029, rising at a market growth of 4.8% CAGR during the forecast period.
The Modular Circuit Monitoring segment is generating the highest revenue share in the Global Circuit Monitoring Market by Type would achieve a market value of $322.1 Million by 2029. This is due to the fact that modular circuit monitoring system is revolutionizing circuit monitoring with the use of cutting-edge technology that makes installation and connecting simple. It offers quick access to information in an approachable style. With no disturbance to important loads, the modular circuit monitoring system is designed for new and retrofit installations.
The Commercial segment is showcasing a CAGR of 5.2% during (2023 - 2029). This is because commercial settings that combine actual branch lines with sub-meters and virtual meters are supported by commercial circuit monitor billing. Additionally, the expansion of the business sector brought on by rising consumer disposable income and government investment is anticipated to increase demand for circuit monitoring systems to track energy use and generate bills, supporting the segment's expansion.
The North America market dominated the Global Circuit Monitoring Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $321.3 Million by 2029. The Asia Pacific market is exhibiting a CAGR of 5.6% during (2023 - 2029). Additionally, The Europe market would showcase a CAGR of 4.6% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/circuit-monitoring-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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