Power Management Market to Grow with 7.03% CAGR by 2026
" COVID-19 Impact on Power management market, size, share, growth, industry analysis, and forecast 2020-2026 "
Power management helps ensure the safety, reliability, efficiency, and compliant procedure of electrical distribution systems, coupled with their assets. With the help of power management, real-time power data can be achieved from stand-alone power metering devices or devices that have installed metering abilities such as motor control units, breaker trip units, protection relays, and variable speed drives.
The global power management market is prominently driven by the rising adoption of the internet of things, and cloud-based platforms, along with the escalating sales of consumer electronics, are propelling the global power management market. The feature of power management also minimizes the consumption of power in various device applications and boosts the industry's growth. The government initiatives for several industries such as manufacturing will substantially increase power requirements, therefore fueling the demand for power management in various countries.
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Furthermore, the rising infrastructural investments based on overall residential and commercial developments will impel the oil & gas power management market share. On the other hand, the upsurge in the generation of distributed power and rising offshore supporting vessels are the factors that are likely to generate opportunities in the power management market growth.
The Power Management Market research report titled “Power Management Market based on Product Type, Application and Geography – Global Forecast up to 2026.”
The top-notch companies of the market are Kutai Electronics Industry Co., Ltd., AC/ DC Electronics, Marelli Motori S.p.A., AEG SVS, and Allegro Microsystems.
Asia Pacific region has been dominating the power management market. This is due to the rising industry of manufacturing and mining. Moreover, developing residential architectures increases the demand for smart grids and smart metering solutions to optimize energy consumption.
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The report consists of 83 Tables and 47 charts depicting the in-depth market study and the impact analysis of COVID-19. View detailed TOC here.
Power Management Market on the basis of Product Type
- Voltage Regulators
- LED Drivers
- Switching Regulators
- Battery Charger Controllers
Power Management Market on the basis of Application
- Electrical Networks
- Power Plant
Power Management Market on the basis of Geography
- North America
- Asia Pacific
- Rest of the World