The global switchgear monitoring system market size is projected to reach USD 2.1 billion by 2025 from an estimated value of USD 1.3 billion in 2020, at a CAGR of 9.7%. Increasing focus toward maximizing reliability of electrical assets through early detection of failure, and renewable energy integration are the key factors driving the switchgear monitoring system market.
The key players in the switchgear monitoring system market include companies such as ABB (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric (US), and Eaton (Ireland). Major strategies adopted by the players are product launches, contracts & agreements, collaborations, partnerships, and mergers & acquisitions, from January 2016 to July 2020. New product launches was the most commonly adopted strategy.
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Schneider Electric is a manufacturer of electrical equipment. The company’s key business focus is the digital transformation of energy management and automation for homes, data centers, buildings, industries, and infrastructures. The company has two major business segments, namely, Energy Management and Industrial Automation. The energy management segment is further divided into low voltage, medium voltage, and secure power businesses. The product portfolio under medium voltage (infrastructure) segment includes switchgear and their monitoring systems, power monitoring and control software, and other products. The company offers Power Monitoring Expert 9.0 through medium voltage, which gives an insight into electrical system health and energy efficiency. The product monitors protection settings to ensure that the faults are detected and avoid system-wide power outages; it monitors breaker protection settings to ensure proper breaker operation, fault isolation, and avoid safety hazards. In February 2020, Schneider Electric partnered with Tricolite Electrical Industries for new-generation MV switchgear Premset. This partnership will allow Tricolite to assemble, engineer, test, market, and sell products. The Premset uses solid, shielded insulation and provides an SF6-free MV switchgear.
Siemens is a manufacturer of engineering solutions for automation and control, power, transportation, and medical diagnosis. The company’s key focus is intelligent infrastructure for distributed energy systems and buildings, digitalization and automation in manufacturing and process industries, power distribution, conventional and renewable power generation, smart mobility solutions for road and rail, digital healthcare services, and medical technology. Siemens operates through six business segments, such as Digital Industries, Smart Infrastructure, Gas and Power, Mobility, Siemens Healthineers, and Siemens Gamesa Renewable Energy. The company offers switchgear monitoring systems under the Gas and Power segment. Siemens offers a wide range of products and services for condition monitoring & diagnostics, modernizations & upgrades, remote monitoring, lifetime extensions, and digital service solutions to turnkey services under its Power and Gas business segment. Siemens offers condition monitoring services for high-voltage and medium-voltage switchgear. In May 2020, Siemens is expanding its portfolio of gas-insulated switchgear to 24 kV with a fluorine gas-free NXPLUS C 24 medium-voltage switchgear. The switchgear is also equipped with digital features and help in reliable, safe, and cost-efficient operation.
Switchgear Monitoring System Market by Type (GIS, AIS), Voltage (High, Medium), Component (Hardware, Software & Services), Monitoring (Temperature, PD, Gas, Others), End User (Utilities, Industries, Commercial), & Region - Global Forecast to 2025
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