Global Remote Power Panel Market is valued at approximately USD 1 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4% during the forecast period 2024-2032. Remote Power Panel is a specialized electrical distribution and control unit designed to remotely monitor, manage, and distribute electrical power within various applications and industries. It serves as a centralized point for power distribution, enabling efficient control and supervision of electrical circuits and devices from a remote location. The Remote Power Panel Market is expanding because of factors such as the rising number of data centres and the rising integration of smart grid technology. As a result, the demand for a Remote Power Panel has progressively increased in the international market during the forecast period 2024-2032.
Data centers have specific and demanding power distribution requirements to support the vast array of servers, networking equipment, and other critical infrastructure. Remote Power Panel provides a centralized and intelligent solution for managing power distribution within these facilities. According to Statista, in 2023, the United States led globally with the highest number of reported data centers, totalling 5,375, followed by Germany with 522 data centers, and the United Kingdom with 517 data centers. Another important factor that drives the Remote Power Panel Market is the rising integration of smart grid technologies. Smart grids enable real-time monitoring of power distribution systems. This capability aligns well with the functions of Remote Power Panels, allowing operators to remotely monitor and control electrical circuits, devices, and loads from a centralized location. The smart grid's data communication infrastructure facilitates seamless communication with remote power panels, enhancing their effectiveness in managing power distribution remotely. In addition, as per Statista, the smart grid technology market was valued at nearly USD 50 billion in 2022, and is anticipated to propel the market up to approximately USD 130 billion by the year 2028 Moreover, government initiatives towards the adoption of smart and energy-efficient technologies and rising demand for industrial automation techniques are anticipated to create lucrative growth opportunities for the market over the forecast period. However, supply chain constraints and disruptions and high costs associated with remote power panels are going to impede overall market growth throughout the forecast period of 2024-2032.
The key regions considered for the Global Remote Power Panel Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising number of data centers and growing industrial automation in the region. Industrial automation relies heavily on a robust and intelligent power distribution system. Remote Power Panel supports automation processes by providing remote control and monitoring capabilities, contributing to the seamless integration of automated manufacturing systems and processes. The region's dominant performance is anticipated to propel the overall demand for a Remote Power Panel. Furthermore, Asia Pacific is expected to grow fastest over the forecast period, owing to factors such as the growing rate of urbanization and increasing adoption of energy-efficient technologies in the region. Energy-efficient technologies often participate in demand response programs, adjusting their energy consumption based on external signals. Remote Power Panel facilitates the implementation of demand response strategies by providing the means to remotely control and adapt power distribution in response to changing demand patterns.
Major market player included in this report are:
ABB Group
Eaton Corporation PLC
Toshiba Corporation
Lyntech Engineering Inc
Vertiv Holdings Co
Schneider Electric SE
Delta Electronics, Inc
Anord Mardix Inc
Lutron Electronics Co., Inc
SOCOMEC Group S.A.
Recent Developments in the Market:
In November 2023, ABB unveiled Protecta Power panel board, which supports variable power distribution. Protecta Power incorporates cutting-edge digital monitoring and control technology. Protecta Power provides secure and reliable power distribution while also enabling smart electrical distribution in commercial, institutional, infrastructure, and institutional facilities. Protecta Power provides flexibility in meeting critical needs for a wide range of facilities by combining the newest smart Moulded Case Circuit Breakers (MCCBs) such as the Tmax XT with built-in digital communication, protection, and control. It also enables the remote downloading of consumption and billing data, in addition to optional remote monitoring and accurate sub-metering.
Global Remote Power Panel Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2024-2032
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Wall Mounted
Floor Standing
By Application
Network Cabinets
Server Rooms
Data centers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
