Switchgear Monitoring System Market worth $3.22 billion by 2030 | MarketsandMarkets™
DELRAY BEACH, Fla., Aug 6, 2025 /PRNewswire/ -- The global Switchgear Monitoring System Market is anticipated to grow from estimated USD 2.17 billion in 2025 to USD 3.22 billion by 2030, at a CAGR of 8.2% during the forecast period. The Switchgear Monitoring System Market is experiencing steady expansion, driven by the growing emphasis on power quality and reliability in response to rising demand for continuous and uninterrupted power supply. This growth is further supported by heightened concerns surrounding the safety and efficient operation of electrical equipment. The need for advanced monitoring systems has become critical as global power grids face increasing strain from expanding urban infrastructure, industrial automation, and the integration of renewable energy sources. These systems can detect fault conditions, including overheating, insulation degradation, and partial discharges, thereby preventing unexpected outages, reducing maintenance costs, and extending the lifespan of switchgear assets.
In developed countries, aging electrical infrastructure necessitates upgrades, while in emerging economies, rapid grid expansion is prompting utilities and industries to adopt intelligent, IoT-enabled monitoring technologies. Additionally, the implementation of stricter government electrical safety regulations and the global shift toward smart grid adoption are further propelling market growth.
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Gas-insulated switchgear to record higher CAGR during forecast period.
Gas-insulated segment will be the fastest-growing segment within the Switchgear Monitoring System Market during the forecast period, owing to its compact design, high reliability, and high voltage applications in space-bound areas. Due to the fast growth of urbanization and smart cities, compact and efficient power distribution has seen an orchestration of demand, particularly where space is a constraint, i.e., highly populated regions. The gas-insulated switchgear is also safer, has less maintenance, and better survivability when exposed to extreme environmental conditions than air-insulated switchgear, and is preferable to use in critical infrastructure environments, such as substations, underground structures, and offshore platforms. Furthermore, the rising importance of integrating renewable energy sources and the need for advanced monitoring capabilities in high-voltage operations significantly shape the preferences of utilities and industries. This shift is driving a growing inclination toward gas-insulated systems over traditional alternatives. As a result, these factors are expected to fuel the rapid expansion of the gas-insulated segment in the coming years.
Asia Pacific to hold largest market share during forecast period
During the forecast period, Asia Pacific is expected to be the largest region for the Switchgear Monitoring System Market, driven by rapid industrialization, urbanization, and a significant increase in electricity demand across China, India, Japan, South Korea, and several other countries. Massive investments in power infrastructure development, grid modernization, and renewable energy integration are prompting utilities and industries in the region to adopt advanced switchgear monitoring systems for improved reliability and operational efficiency. Additionally, several large-scale manufacturing facilities and expanding metro and rail projects are boosting the need for continuous power monitoring and fault detection solutions. Government initiatives to modernize aging infrastructure and improve energy efficiency, coupled with favorable policies supporting smart grid deployment, further propel market growth. Additionally, the region's cost-sensitive yet high-volume demand landscape is attracting global players to strengthen their footprint, positioning Asia-Pacific as the leading market throughout the forecast period.
Key Market Players
ABB, Siemens, Eaton, GE Vernova, and Schneider Electric are major players in the Switchgear Monitoring System Market. Their major strategies include acquisitions, product launches, agreements, partnerships, and expansions.
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ABB (Switzerland)
ABB (Switzerland) is a global leader offering various products, systems, and services in the utilities, infrastructure, and transportation industries. The company operates through four major divisions: Electrification, Industrial Automation, Motion, Robotics & Discrete Automation. ABB offers a complete portfolio of switchgear monitoring systems in the Electrification segment. This segment is strategically essential, representing a significant portion of ABB's overall revenue. It encompasses automation and service solutions and a broad portfolio of low- and medium-voltage control and protection products, including building automation systems, wiring accessories, and installation materials. The segment is primarily focused on enabling safer and more intelligent electrical distribution. ABB maintains a robust global footprint, operating in more than 100 countries through approximately 300 consolidated operating and holding subsidiaries. The company has a well-established presence across key regions, including North America, Europe, Asia Pacific, the Middle East, and Africa.
Siemens (Germany)
Siemens (Germany) is a technology company focused on electrification, automation, and digitalization, and it works in numerous sectors. The company produces generators, motors, transformers, control apparatus, general-purpose machinery, and advanced signaling and control equipment for road and rail traffic. Siemens operates through various business units: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, which together make Industrial Business and Siemens Financial Services, delivering integrated offerings focused on discrete and process automation, smart energy distribution, intelligent transportation, and healthcare technology. The Digital Industries segment represents Siemens' primary growth engine, offering various industrial automation products, software, and system solutions that facilitate end-to-end digital transformation across the manufacturing and process industries. Siemens remains dedicated to innovation and sustainability, with a global footprint spanning over 190 countries and a localized presence through regional offices, manufacturing sites, R&D centers, and service operations. Its strong market position is reinforced by an expansive network of production facilities, research institutions, and service hubs strategically located across Europe, the Americas, Asia Pacific, and the Middle East.
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