Switchgear is electrical disconnect switches, fuses, circuit breakers that used to control, protect and isolate electrical equipment. Switchgear is used to de-energize equipment and to clear faults in downstream. The switchgear monitoring system is used to monitor the activities of switchgear in substations and transformers. The rapid expansion of power plants and transmission lines to meet the growing electricity need is creating demand in Switchgear Monitoring System market.
The "Global Switchgear Monitoring System Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the switchgear monitoring system market with detailed market segmentation by type, component, end-user, voltage, monitoring type, and geography. The report provides key statistics on the market status of the leading switchgear monitoring system market players and offers key trends and opportunities in the market.
- Based on type, the global switchgear monitoring system market is segmented into GIS and AIS.
- On the basis of component, the market is segmented into hardware and software and services.
- Based on end-user, the market is segmented into utilities, industries, commercial, and others.
- Based on voltage, the market is segmented into high voltage and medium voltage.
- Based on monitoring type, the market is segmented into temperature monitoring, partial discharge monitoring, and others.
- Rising demand for secured electrical transmission and distribution system, continuous monitoring of switchgear, increased investments in renewable energy are some of the key factors of the switchgear monitoring system market.
- The growth of data centers, execution of performance-based incentive systems and definite service programs are creating opportunities for the switchgear monitoring system market.
- High monitoring cost and firm regulations creating a negative impact on the switchgear monitoring system market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The switchgear monitoring system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the switchgear monitoring system market in these regions.
IMPACT OF COVID-19ON SWITCHGEAR MONITORING SYSTEM MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the switchgear monitoring system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from switchgear monitoring system market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the switchgear monitoring system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- General Electric
- KONCAR - Electrical Engineering Institute, Inc.
- Mitsubishi Electric Corporation
- Schneider Electric
- Tiara Vibrasindo Pratama
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.