What are the recent trends in market size and growth for the circuit monitoring market?
The circuit monitoring market size has grown strongly in recent years. It will grow from $1.15 billion in 2024 to $1.26 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increasing adoption of smart grids, growing need for predictive maintenance, rising electricity consumption, increasing focus on sustainability, and growing industrial automation.
The circuit monitoring market size is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2029 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increasing adoption of renewable energy, growing importance of data analytics, rise in industrial infrastructure development, rise in connected devices, increasing focus on energy optimization, and rising demand for energy storage systems. Major trends in the forecast period include advancements in IoT and sensor technology, advancements in artificial intelligence and machine learning, integration with cloud computing, integration with building management systems, development of energy-efficient monitoring systems, and shift towards automated and intelligent systems.
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How have varous drivers impacted the growth of the circuit monitoring market?
The increasing adoption of renewable energy sources is expected to propel the growth of the circuit monitoring market going forward. Renewable energy sources refer to naturally replenishing energy sources, such as solar, wind, hydro, geothermal, and biomass, that provide sustainable and clean power. The shift to renewable energy is driven by climate concerns, dwindling fossil fuel reserves, and the need for sustainability. Innovations, policy support, and cost reductions are boosting global adoption. Circuit monitoring is essential for the increasing adoption of renewable energy sources to ensure grid stability, real-time fault detection, efficient energy distribution, and system optimization. For instance, in January 2024, according to the US Energy Information Administration, a US-based government agency, U.S. solar power generation is projected to increase by 75%, rising from 163 billion kWh in 2023 to 286 billion kWh in 2025, while wind power generation is expected to grow by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2025. Therefore, the increasing adoption of renewable energy sources is driving the circuit monitoring market.
What are the primary segments of the circuit monitoring market?
The circuit monitoring market covered in this report is segmented –
1) By Product Type: Circuit Breakers, Contactors, Relays, Fuses, Circuit Protection Modules, Motor Protection Relays, Residual Current Devices, Power Meters, Smart Circuit Breakers
2) By Voltage Rating: Low Voltage (Up To 1000V), Medium Voltage (1000V To 33kV), High Voltage (33kV And above)
3) By Application: Industrial Automation, Power Generation and Distribution, Building Automation, Consumer Electronics, Transportation, Medical Equipment, Oil And Gas
4) By End User: Manufacturers, Utilities, Commercial Buildings, Residential Buildings, Data Centers
Subsegments:
1) By Circuit Breakers: Air Circuit Breakers (ACB), Molded Case Circuit Breakers (MCCB), Miniature Circuit Breakers (MCB), Vacuum Circuit Breakers (VCB), SF6 Circuit Breakers
2) By Contactors: Electromechanical Contactors, Solid-State Contactors, Magnetic Contactors, Definite Purpose Contactors, Lighting Contactors
3) By Relays: Electromechanical Relays, Solid-State Relays, Time Delay Relays, Protective Relays, Automotive Relays
4) By Fuses: Cartridge Fuses, Plug Fuses, Blade Fuses, Resettable Fuses, High-Rupture Capacity (HRC) Fuses
5) By Circuit Protection Modules: Surge Protection Devices (SPD), Overcurrent Protection Modules, Ground Fault Protection Modules, Arc Fault Protection Modules, Voltage Regulation Modules
6) By Motor Protection Relays: Overload Protection Relays, Phase Failure Relays, Voltage Monitoring Relays, Thermal Protection Relays, Digital Motor Protection Relays
7) By Residual Current Devices: Residual Current Circuit Breakers (RCCB), Residual Current Breakers with Overcurrent Protection (RCBO), Ground Fault Circuit Interrupters (GFCI), Portable Residual Current Devices (PRCD), Earth Leakage Circuit Breakers (ELCB)
8) By Power Meters: Analog Power Meters, Digital Power Meters, Smart Energy Meters, Multifunction Power Meters, Wireless Power Meters
9) By Smart Circuit Breakers: IoT-Enabled Circuit Breakers, Remote-Controlled Circuit Breakers, Self-Diagnostic Circuit Breakers, AI-Powered Circuit Breakers, Cloud-Connected Circuit Breakers
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Which firms are leading the circuit monitoring market?
Major companies operating in the circuit monitoring market are Siemens AG, General Electric Company, Schneider Electric S.E., ABB Limited, Toshiba International Corporation, Eaton Corporation plc, Molex LLC, Legrand S.A., Rockwell Automation Inc., Omron Corporation, Phoenix Contact GmbH & Co. KG, Leviton Manufacturing Company Inc., Socomec Group, ETA Elektrotechnische Apparate GmbH, NHP Electrical Engineering Products Pty Limited, Acrel Electric Co. Limited, Elmeasure India Private Limited, Accuenergy Inc., Anord Mardix, Nlyte Software LLC, Senva Inc., Schurter AG, CET Technology, CircuitMeter Inc., Packet Power LLC, Daxten Limited
How will industry trends affect the trajectory of the circuit monitoring market?
Major companies operating in the circuit monitoring market are focusing on technological advancements, such as compact switchgear, to enhance efficiency, optimize space utilization, and improve the reliability of circuit monitoring systems in various applications. Compact switchgear is a space-efficient electrical system that controls and safeguards circuits, ideal for tight installations without compromising performance. For instance, in May 2022, Schneider Electric SE, a France-based automation machinery manufacturing company, launched SureSeT MV switchgear and EvoPacT circuit breakers. This combination enhances operational efficiency with compact designs, digital monitoring, and predictive maintenance. EvoPacT’s 25% smaller size and 40-year lifespan improve space utilization and equipment longevity. The integrated sensors and wireless features allow remote management, early detection of issues, and optimized performance through cloud services, contributing to greater safety and uptime.
Which geographic trends are shaping the circuit monitoring market, and which region has the highest market share?
North America was the largest region in the circuit monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the circuit monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Circuit Monitoring Market Report 2025 Offer?
The circuit monitoring market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Circuit monitoring is the process of collecting and analyzing electrical data from circuits to help with power management and energy efficiency. Circuit monitoring is utilized to track, analyze, and optimize electrical performance by measuring voltage, current, power consumption, and detecting faults in real time.
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