The Global Switchgear Monitoring System Market to grow from USD 1,151.44 Million in 2019 to USD 2,029.99 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 9.91%.
Market Segmentation & Coverage:
The research report categorizes the Switchgear Monitoring System Market to forecast the revenues and analyze the trends in each of the following segments:
Based on Type, the Switchgear Monitoring System Market studied across AIS and GIS.
Based on Voltage, the Switchgear Monitoring System Market studied across High Voltage and Medium Voltage.
Based on Component, the Switchgear Monitoring System Market studied across Hardware and Software & Services. The Hardware further studied across Distribution Network Feeders and Intelligent Equipment Devices.
Based on Monitoring Type, the Switchgear Monitoring System Market studied across Gas Monitoring, Partial Discharge Monitoring, and Temperature Monitoring.
Based on End-user, the Switchgear Monitoring System Market studied across Commercial, Industries, and Utilities.
Based on Geography, the Switchgear Monitoring System Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
The factors attributing to the growth of the market are integration of renewable energy coupled with increased investments in renewable energy, growing need to eliminate unplanned outages with cost-effective and reliable way, and rising demand for secured electrical transmission and distribution system. However, some factors such as high monitoring cost and industrial regulations may hinder the market growth. The Switchgear Monitoring System Market expected to showcase the opportunities such as replacement of aging grid infrastructure and growing investment in smart grid and growth of data centers, execution of performance-based incentive systems and definite service programs. Soon market may face the possible challenges in the growth due to increased risk of cybersecurity attacks and efficient supervision of switchgear functioning. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the market.
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.
360iResearch Competitive Strategic Window:
The 360iResearch Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.
360iResearch FPNV Positioning Matrix:
The 360iResearch FPNV Positioning Matrix evaluates and categorizes the vendors in the Switchgear Monitoring System Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Company Usability Profiles:
The Switchgear Monitoring System Market is highly competitive and characterized by the presence of a large number of international and regional players in the market. The market has witnessed increased competition between vendors based on the pricing model, technology differentiation, brand name, quality of service, price differentiation, and technical expertise.
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Switchgear Monitoring System Market, including ABB Ltd, Altanova Group, Doble Engineering Company, Dynamic Rating, Eaton Corporation PLC, Fortive Corporation, General Electric Company, High Voltage Partial Discharge, Independent Power Engineering Consultants, Konèar-Electrical Engineering Institute, Megger India (P.) Ltd., Mitsubishi Electric Corporation, Nuventura, OSENSA Innovations Corp, Power Diagnostic Service Switzerland GmbH, Rugged Monitoring, Schneider Electric SE, SENSeOR SAS, Siemens AG, and Tiara Vibrasindo Pratama.