Global Switchgear Monitoring Market Report:
Information, by Type (GIS and AIS), Voltage (High and Medium), by
Component (Hardware, Software & Services), End-Use (Utilities, Industrial,
Commercial and others) and Region.
Switchgear Monitoring Market Scenario
The
switchgear monitoring market size is projected to reach USD 2.16 Billion by
2024 from an estimated USD 1.52 billion, at a CAGR of 7.86% from 2019–2024.
Switchgear
is an equipment that is used to protect and isolate other electrical equipment
from faults. Switchgear monitoring systems are add-on systems which are used to
supervise switchgears. These systems provide diagnostic software and partial
discharge sensors that are needed to evaluate the condition of switchgear so
that corrective measures can be taken as per priority. Switchgear monitoring
help to plan maintenance outages prior to failures.
Segmental Analysis
On
the basis of end-use, the global market is segmented as utilities, industrial,
commercial, and others. The utilities segment is expected to dominate the
market during the forecast period due to the rising safety issues related to
photovoltaic systems and distributed energy resources, which would drive the demand
for switchgear monitoring systems from the utilities.
On
the basis of voltage, the global market is segmented as medium voltage and high
voltage. The high voltage segment is expected to dominate the market during the
forecast period.
On
the basis of switchgear type, the global market has been segmented into gas
insulated switchgear (GIS) and air insulated switchgear (AIS). The GIS segment
is expected to dominate the market during the forecast period. Moreover, based
on component, the market is segmented as hardware and software & services.
Hardware segment is expected to have a higher share during the forecast period,
but software & services would grow at a faster rate.
Access Full Report at: https://www.marketresearchfuture.com/reports/switchgear-monitoring-market-7970
Leading Players
KONCAR-Electrical
Engineering Institute, Inc. (Croatia), and Siemens (Germany), Mitsubishi
Electric Corporation (Japan), Eaton (Ireland), ABB (Switzerland), Emerson (US),
Furtive (France), Schneider Electric (France), Siemens (Germany), Trefah AG
(Switzerland), and Sensor (France) are the notable players in the global
switchgear monitoring market.
Regional Outlook
Region-wise,
the switchgear monitoring market has been segmented into North America, South
America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The
global switchgear monitoring market was dominated by APAC in 2018 on account of
growing investment in transmission & distribution (T&D) network. The
region has directed focus towards renewable energy sources which combined with
accelerated constructional activities have boosted the growth of the market.
North
America is expected to be the second largest switchgear monitoring market over
the forecast period. High investment in modernization of infrastructure and increase
in energy demands is fuelling the growth of the market. The US is the most
significant country-specific market within North America.
Europe
too is likely to exhibit substantial growth over the forecast period. The
region has been witnessing a number of technological advancements lately as key
players such as Siemens, Sensor, and ABB are actively engaged in rigorous
R&D activities. Expanding renewable sector has further driven the need for
switchgear monitoring. Germany is expected to dominate the Europe market.
Saudi
Arabia is the largest country-specific market in MEA while Brazil is likely to
dominate teh South America market.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact:
Market
Research Future
+1
646 845 9312
Related
Reports:
Gas
Insulated Switchgear Market: Https://Www.Marketresearchfuture.Com/Reports/Gas-Insulated-Switchgear-Market-1108
Paralleling
Switchgear Market: Https://Www.Marketresearchfuture.Com/Reports/Paralleling-Switchgear-Market-6010
