The North America Circuit Monitoring Market would witness market growth of 4.1% CAGR during the forecast period (2023-2029).
Users can track power usage effectiveness (PUE) from a central place with the help of circuit monitoring. This comprises IT and facilities equipment, down to the level of the specific branch circuit and the utility meter. The data center manager can monitor each cabinet's circuit in real time to measure the overall load vs. available capacity. Sharing this data with the BMS enables better operational efficiency and energy savings while assisting with capacity planning. In addition, A & B side loads are continuously monitored to prevent cascading failure. When a predetermined threshold or breaker limit is about to be reached, users are warned by alerts at the branch circuit level. Managers can now make adjustments to prevent overload and downtime.
The ability to track power usage by specific tenants and departments in real-time for precise billing and charge-back is enabled for colocation companies or enterprise data centers with this level of granularity. As a result, users may lower risk, plan for capacity needs, accurately bill, identify inefficiencies, and make adjustments to optimize energy usage, enhance power quality, maintain service continuity, and save energy costs with visibility into the energy demands of the entire facility down to individual systems.
Due to the expansion of the tourism industry in this region, Mexico City, Tulum, and Merida are quickly rising to the top of the list of desirable locations for real estate investors. Additionally, these areas are seeing increased urban expansion and ecotourism investment. Numerous real estate developments, including museums, commercial centers, and even concert halls, have been developed due to this surge. Due to the expansion of the commercial real estate industry, there will be an increase in the amount of infrastructure that needs effective power management and energy-saving capabilities due to the rising trend for power saving, which circuit monitoring can provide, thus driving the market expansion in the region.
The US market dominated the North America Circuit Monitoring Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $235.8 Million by 2029. The Canada market is poised to grow at a CAGR of 6.1% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 5.8% 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 U.S., Mexico, Canada, and Rest of North America.
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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