Circuit Monitoring Market Size - By Technology, By Type, By Application, By End Use Analysis, Share, & Forecast, 2025 - 2034

Circuit Monitoring Market Size

The global circuit monitoring market was valued at USD 925.9 million in 2024 and is estimated to reach the value of USD 1.6 billion by 2034, growing at a CAGR of 6% from 2025 to 2034. There is a need for sophisticated circuit monitoring systems with smart grids and renewable energy sources for better optimization and efficient distribution of energy. Furthermore, on a broader industry wide scale, with the new focus on energy sustenance smart circuits have been able to reduce operational costs.
 

The rising preference for renewable energy is also creating significant scope for the circuit monitoring market since the requirement for electrical infrastructure will be relatively higher. In 2024, the U.S. solar industry experienced significant growth, adding nearly 50 gigawatts (GW) of new capacity, a 21% increase from 2023. Similarly, Europe installed 16.4 GW of new wind power capacity in 2024.
 

Increased industrialization along with the urbanization will result in a greater need for electrical infrastructure, thus the greater need for monitoring circuits because of the demand. California and Texas led the solar powered states, which added close to 50 gigawatts of new solar power. This was a 21% growth from the previous year. Utility scale coverage backed this along with smaller scale installations across all domestic market. Therefore, my analysis is that this trend will encourage growth in circuit monitoring.
 

Undoubtedly, technology evolves, initiating the exploration of new frontiers. Predictive maintenance and fault detection can be accomplished with smart sensor IOT systems that gather and analyse data in real-time. Also, advanced artificial intelligence and analytics synergistically enhance big data, increasing the performance of circuit monitoring systems which refine forecast estimates and recognize anomalies in energy consumption.
 

North America has a considerable share in the circuit monitoring market due to its sophisticated energy infrastructure and adoption of smart grids. Europe is closely trailing because of strict policies that foster electrical safety and energy use. Industrialization and urban expansion paired with heightened funding toward smart grid initiatives are likely to accelerate growth in the Asia Pacific region.
 

The consequences of Circuit monitoring market trends will be exacerbated by Trump’s latest tariffs. With the recent introduction of tariffs on goods such as Raw steel and Aluminum. It is likely that the overall cost of manufacturing circuit monitoring devices will go up. This also means, the cost charged by manipulators of confinement items meant for sur-joining circuits will also go up.
 

Circuit Monitoring Market Trends

• The adoption of circuit monitoring systems which pinpoint areas of deficiency and enhance overall energy efficiency is now becoming commonplace as a result of organizations prioritizing energy conservation and sustainability. Automation, alongside IoT technologies, is fundamentally restructuring electrical systems. Remote supervision and command are now possible, and these advancements greatly improve forecasted maintenance and system dependability.
   
• The incorporation of AI and ML algorithms into circuit monitoring systems enhances fault detection, predictive analytics, and automated decision-making, leading to proactive maintenance strategies. The shift towards cloud-based circuit monitoring solutions offers scalability, remote accessibility, and seamless integration with other business systems, improving operational efficiency.
   
• Smart grids require more sophisticated systems for circuit supervision owing to complex power distribution, the integration of renewable energy sources, and maintaining grid stability. The recent adoption of edge computing enables real-time processing of data at the origin which improves the efficiency and dependability of circuit monitoring systems in real-time sensitive domains.
   
• There are multiple companies in this industry that are investing significantly across the world. For instance, in 2024, Eaton Corporation invested USD 11 million in a new facility in Chennai, India, focused on manufacturing and research and development of advanced power management equipment.
   
• Similarly, there are multiple projects going on in this industry, which will be carrying the requirement of electrical infrastructure. Recently, SSE and Siemens Energy have launched “Mission H2 Power”, a collaboration which aims to deliver gas turbine technology capable of running on 100% hydrogen. These projects will also find the necessity of circuit monitoring in electrical circuits in coming years.
   

Circuit Monitoring Market Analysis

• The circuit monitoring industry was valued at USD 843.3 million in 2022, USD 882.9 million in 2023, and was set to reach USD 925.9 million in 2024. This consistent growth trajectory reflects rising demand for energy efficiency, operational transparency, and system resilience across industries.
   
• In the circuit monitoring market, based on technology, digital segment is anticipated to exceed USD 704 million by 2034. Digital circuit monitoring systems offer real-time data acquisition, remote diagnostics, and advanced analytics, making them far more efficient than analog counterparts. This enables industries to quickly detect circuit-level faults, overloads, or inefficiencies, facilitating faster response times and reducing the risk of unplanned downtime.
   
• Similarly, the IoT-enabled segment in the circuit monitoring market is projected to cross USD 488 million by 2034, owing to the rapid digitization of electrical infrastructure and the increasing need for real-time visibility, automation, and data-driven decision-making across industries. IoT-enabled circuit monitoring systems offer instant access to real-time data, allowing facility managers and utilities to detect anomalies such as overloads, short circuits, and energy imbalances as they happen.
   
• The concern of carbon emission is rising significantly across the world. In 2024, global CO2 emissions reached a record high of 41.6 billion tonnes, a 0.8% increase from 2023. This includes 37.4 billion tonnes from fossil fuels and 4.2 billion tonnes from land use changes like deforestation. India's emissions are projected to increase by 4.6% in 2024.
   
• As businesses strive to meet Environmental, Social, and Governance (ESG) targets, IoT-based circuit monitoring offers detailed insights into carbon footprints and energy wastage. By tracking energy consumption down to individual circuits and devices, companies can implement energy-saving measures and improve their overall sustainability performance.

• In the circuit monitoring market, based on application, energy management segment is expected to grow with a CAGR of over 5.5% till 2034 due to the increasing emphasis on optimizing power usage, reducing energy wastage, and enhancing the operational efficiency of electrical systems across industrial, commercial, and utility sectors. The integration of advanced analytics and IoT-enabled circuit monitoring systems is further propelling demand, enabling real-time tracking and control of energy consumption.
   
• Government regulations and energy efficiency mandates have also played a pivotal role. Many countries are enforcing stringent energy usage norms and offering incentives for adopting energy management solutions. This regulatory pressure is compelling enterprises, especially in power-intensive industries, to deploy circuit monitoring solutions that can track, analyze, and control their energy consumption at a granular level.
   
• Similarly, fault detection segment is also anticipated to cross USD 372.4 million by 2034. Industries such as oil & gas, chemicals, mining, pharmaceuticals, and heavy manufacturing require a continuous and stable power source to maintain productivity, prevent equipment damage, and ensure worker safety, making circuit monitoring an essential component of their energy infrastructure.
   
• These end use industries are expanding tremendously owing to the rising industrialization across the world. For instance, in 2024, U.S. crude oil production averaged 13.2 million barrels per day (b/d), a 2% increase compared to the previous year. Similarly, in China, the chemical industry has made moderate progress in 2024, increasing year-over-year production above 2023 levels.

• The U.S. circuit monitoring market was USD 168.7 million in 2022, USD 175.7 million in 2023 and USD 183.2 million in 2024 respectively, reflects the rising demand for real-time energy oversight, regulatory compliance, and operational efficiency across industrial, commercial, and utility sectors.
   
• U.S. based enterprises are under growing pressure, both from government policies and internal ESG commitments, to minimize energy waste and lower carbon emissions. In 2022, the United States emitted 6.343 billion metric tons of carbon dioxide equivalent (CO2e) greenhouse gas emissions, a slight increase of 0.2% compared to 2021. Circuit monitoring systems provide the data granularity and insights required to measure and control energy usage.
   
• It is playing significant role in this industry since the end use industries of this market are increasing rapidly. It was reported that the manufacturing sector contributed to one-quarter of the EU's business economy’s net turnover, with approximately USD 10 trillion in 2022. Similarly, other industries are also witnessing transformation, thereby growing the demand for the circuit monitoring.
   
• The Asia Pacific (APAC) region holds strategic importance in the global circuit monitoring market due to its rapid industrialization, urban expansion, infrastructure investments, and the rising adoption of smart energy systems. Countries like China, India, Japan, South Korea, and Australia are driving significant demand for advanced circuit monitoring solutions across industrial, commercial, and utility sectors.
   
• The Middle East and Africa (MEA) region plays an increasingly strategic role in the global circuit monitoring market, driven by a mix of rapid infrastructure development, energy diversification efforts, industrial expansion, and the need for reliable power management solutions. In the Middle East, countries are investing heavily in smart infrastructure, renewable energy projects, and industrial diversification under national transformation programs like Saudi Vision 2030 and the UAE Energy Strategy 2050.
   

Circuit Monitoring Market Share

ABB, Eaton, Legrand, and Toshiba collectively hold more than 20% of the global circuit monitoring industry share, underscoring their strong foothold in the industry. Their dominance is largely attributed to their deep-rooted expertise in electrical and energy systems, coupled with decades of experience in power distribution, automation, and energy management solutions.
 

Circuit Monitoring Market Companies

• In 2024, ABB made significant investments in both research and development (R&D) and capacity expansion, particularly in the US and India. ABB's global investment in R&D reached around USD 1.5 billion, accounting for 4.5% of its consolidated revenues.
   
• in 2024, Eaton Corporation invested USD 11 million in a new facility in Chennai, India, focused on manufacturing and research and development of advanced power management equipment. This facility is strategically designed to serve dual purposes, high-end manufacturing and research and development (R&D), with a focus on producing advanced power management and circuit monitoring equipment tailored to both regional and global demand.
   

Major players operating in the circuit monitoring industry are:

• ABB
• Accuenergy
• Acrel Electric Co. Ltd.
• Anord mardix
• Daxten
• Eaton
• Legrand
• MPL technologies
• NHP
• Omron Corporation
• Packet Power
• Senva Inc.
• Socomec
• Toshiba International Corporation
   

Circuit Monitoring Industry News

• In November 2024, ABB designed OPTIMAX 6.4, software solution that is a key component of their new digital energy infrastructure, The Enhancement Systems, which mainly focuses on endorsing energy efficiency and to accelerate decarbonization. Along with that, the company endorsed their energy platform with cutting edge technology in modular mode.
   
• In July 2024, India has successfully achieved 148.08 GW of RE Installed capacity (excluding Large Hydro) by the end of June 2024 and a significant number of Renewable Energy (RE) projects are under various stages of construction. As on 30 June 2024, a total RE Capacity of 83640.74 MW was under-construction which comprises 54250.49 MW of Solar Projects, 16505.90 MW of Wind projects, 12884.35 MW of Hybrid projects.
   
• In the year 2024, Part of the “Belt and Road” development strategy saw China install 8 GW of solar power in multiple countries. The low cost of renewables technologies because of Chinese manufacturers is fostering the establishment of renewable markets in developing countries where access to clean energy technology was previously unavailable.
   
• In March of 2025, Tokyo Gas Engineering Solutions (TGES) received the 100 MW Sodegaura power plant in Japan, which operates on ten Wartsila 34SG engines. Wartsila’s flexibility with grid balancing aids Japan in optimizing renewable energy use. The plant was constructed by TGES for the parent company, Tokyo Gas, who fully owns and operates the facility.
   

This circuit monitoring market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2034, for the following segments:

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Market, By Technology

• Analog
• Digital
• IoT enabled

Market, By Type

• Branch circuit monitoring
• Others

Market, By Application

• Energy management
• Fault detection
• Preventive maintenance
• Compliance monitoring

Market, By End Use

• Residential
• Commercial
• Industrial

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Argentina