Increasing deployment of smart meters, rise in investments for smart grid technology, and increasing focus on reducing energy cost by effective utilization of power resources is expected to drive the hardware segment, by component during the forecast period. Asia Pacific is expected to be the fastest growing market for this segment. Hardware components of a power monitoring system include physical components, such as metering and communication and measurement devices. The basic function of metering devices is to measure, record, and monitor the quantity of power flowing through any part of the electric system. It is expected to be the largest market during the forecast period.
Increasing deployment of smart meters, rise in investments for smart grid technology, and increasing focus on reducing energy cost by effective utilization of power resources is expected to drive the hardware segment, by component during the forecast period. Asia Pacific is expected to be the fastest growing market for this segment. Hardware components of a power monitoring system include physical components, such as metering and communication and measurement devices. The basic function of metering devices is to measure, record, and monitor the quantity of power flowing through any part of the electric system. It is expected to be the largest market during the forecast period.
Increasing deployment of smart meters, rise in investments for smart grid technology, and increasing focus on reducing energy cost by effective utilization of power resources is expected to drive the hardware segment, by component during the forecast period. Asia Pacific is expected to be the fastest growing market for this segment. Hardware components of a power monitoring system include physical components, such as metering and communication and measurement devices. The basic function of metering devices is to measure, record, and monitor the quantity of power flowing through any part of the electric system. It is expected to be the largest market during the forecast period.
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