Switchgear monitoring system market is expected to grow significantly at a CAGR of 6.9% during the forecast period. The growing industrial and commercial sector has led to the utilization of high electricity requirements which in turn would lead to unexpected temperature rise at a particular location. The rising concern for the better maintenance of electrification systems has enabled the demand for on-line monitoring and diagnostic system. The switchgear monitoring system is the component of an electrical power system which is used for electrical power distribution and to isolate electrical loads. With the advancement in technology, the demand for power quality is increasing. Switchgear monitoring system offers real-time and on-line temperature monitoring solutions which provide the collection of temperature and transmitting information. 

The switchgear monitoring system consists of discharge sensors, instruments, and diagnostic software in order to measure the working of switchgear for scheduling the maintenance power cuts and take preventive measures to avoid failure of the switchgear system. The increasing demand for switchgear monitoring system from the manufacturing and service industry which rely heavily on the reliable power supply from electric utilities to enhance the working of the electrically powered devices is driving the switchgear monitoring system market. However, the increased cost of installation may hamper the market segment of the switchgear monitoring system. The inspection and maintenance provided by power distributors may restrain the market share of the switchgear monitoring system. 

Segmental Outlook  

The switchgear monitoring system market is segmented on the basis of type and end-user. Based on the type, the market is segmented into gas-insulated switchgear (GIS) and air-insulated switchgear (AIS). Based on end-user, the market is segmented into utilities, industrial, commercial, and others.   

Switchgear Monitoring System Market Share by End-User, 2018(%)

The gas-insulated segment is estimated to have a significant market share in the switchgear monitoring system market

The gas-insulated segment is expected to register significant market share over the forecast period owing to the increasing demand from the industrial sector to provide high energy demands. The gas-insulated switchgear system consists of high voltage components such as circuit-breakers and disconnectors which can be operated in confined space. Increasing investment from investors as well as from manufacturers in the transmission and distribution infrastructure has led to the high demand for gas-insulated switchgear. The segment is driven by increasing innovation in technology as well as rapid improvement in the power distribution sector. The implementation of smart grid and smart metering technology tends to drive the market share of the gas-insulated switchgear segment. 

The utility segment is projected to have significant growth in the switchgear monitoring system market

The utility segment is expected to register significant growth over the forecast period owing to the favorable government policies supporting reliable and uninterrupted power supply. The increasing adoption of smart and secure electric infrastructure along with digitalization across the power industry tends to drive the market share of switchgear monitoring system in the utility segment. 

Regional Outlook 

The global switchgear monitoring system industry further classified based on geography including North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific region is expected to register significant growth over the forecast period owing to the improvement in transmission and distribution network with switchgear surveillance systems to enable the safety and security of the power system. 

Switchgear Monitoring System Market Growth, by Region 2019-2025

Market Players Outlook

The major players that contribute to the growth of the switchgear monitoring system market include Schneider Electric, Siemens AG, ABB Group, General Electric, Co., Emerson Electric, Co., and others. These market players are contributing to the market by adopting various market approaches including product launch & approvals, merger & acquisition, partnerships collaborations, and others for gaining a strong position in the market.

Recent Developments 

• In June 2018, ABB Group has announced to upgrade one of Helsinki’s substation with the ABB ability technology to meet the increasing demand for power, improve power reliability and assist transmission system operator, through digitalization. 
• In June 2017, RFMicron, Inc. (Axzon) announced the deployment of temperature monitoring system for the electric power distribution switchgear equipment used by utilities.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global switchgear monitoring system market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.