Switchgear Monitoring System Market

The global switchgear monitoring system market size is projected to reach USD 2.7 billion by 2028 from an estimated value of USD 1.8 billion in 2023, at a CAGR of 8.4%. Increasing focus toward maximizing reliability of electrical assets and renewable energy integration are the key factors driving the switchgear monitoring system market.

The switchgear monitoring market is served by a mix of large international players with a global operational presence and local players with a strong domestic supply network.

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The key players in the switchgear monitoring system market include companies such as ABB (Switzerland), Schneider Electric (France), Siemens Energy (Germany), General Electric (US), and Eaton (Ireland), Mitsubishi Electric (Japan), KONCAR (Croatia), Tiara Vibrasindo Pratama (Indonesia), Senseor (France), Altanova Group (Italy).

Schneider Electric is a global energy and automation digital solutions provider focused on efficiency and sustainability. It combines energy technology, real-time automation, software, and services to target homes, buildings, data centers, infrastructure, and industries. The company offers services to various industries and sectors, such as oil & gas, mining, minerals & metals, power, food & beverage, infrastructure, waste & wastewater treatment, manufacturing, and chemicals & fertilizers.

Siemens Energy is a global energy technology company that focuses on providing innovative and sustainable solutions for the generation, transmission, and distribution of power. Siemens Energy was created as an independent company out of the energy division of Siemens in April 2020. The company operates its business through two business segments which includes gas & power, and renewable energy. The company provide Switchgear Monitoring and Diagnostics under gas & Power business segment. Siemens Energy provides switchgear monitoring products through its Assetguard range of solutions.

ABB Ltd. is a leading power and automation technology company offering a wide range of products, services, and systems, such as Switchgears, transformers, distribution automation products, high-voltage products, power transmission systems, and grid integration systems. It offers switchgear monitoring systems under the Electrification Products segment. This segment also offers automation and services, low and medium voltage control and protection products, including low and medium-voltage products, building automation and wiring accessories, and installation materials. The segment mainly focuses on providing safer and smarter electrical flow from the substation to the socket. In addition, the portfolio includes solar power solutions, electric vehicle charging infrastructure, distribution automation products, modular substation packages, circuit breakers, control products, measuring and sensing devices, wiring accessories, intelligent home and building solutions, enclosures and cabling systems, and panelboards.

General Electric is a globally operating high-tech industrial corporation that operates across the world through four main segments: Aerospace, Renewable Energy, and Power. Under its HV/MV Equipment category, there is the digital monitoring & control solutions segment, which offers products and solutions for switchgear monitoring, enhanced transformer solutions, and software & services. The monitoring solutions provided by the company help maintain the health of circuit breakers and other components present in the switchgear. GE has a presence in 170 countries and maintains research and development facilities across the globe.

Related Reports:

Switchgear Monitoring System Market by Type (GIS, AIS), Voltage (High & Extra High Voltage, Medium Voltage, Low Voltage), Component (Hardware, Software & Services), Monitoring, End User (Utilities, Industries, Commercial) & Region - Global Forecast to 2028

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