Switchgear Monitoring System Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030
- Report Code : FAT2361810
- Published On: Jun, 2021
- Category : Semiconductor & Electronics
- Pages : 200
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Switchgear Monitoring System Market: Market Segments: By Component (Hardware, Software and Services); By Voltage (High Voltage and Medium Voltage); By End-User (Energy and Utilities, Manufacturing, Banking, Financial Services, and Insurance, Information Technology and Telecommunications and Others); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Product Overview
Switchgear is used to de-energize equipment and to clear downstream faults. The control system for the switchgear is used to track switchgear operations in substations and transformers. A central component of electrical power systems, the Switchgear monitoring system is used both to disperse electrical power and to selectively separate electrical loads.
Market Highlights
Switchgear Monitoring System Market is expected to project a notable CAGR of 9.5% in 2030.
Switchgear Monitoring System Market to surpass USD 2.4 billion by 2030 from USD 1.1 billion in 2019 at a CAGR of 9.5% throughout the forecast period, i.e., 2020-30. The increasing demand for safeguarding and safeguarding the delivery of electricity grid systems between the energy and utility industries is a key factor driving global market development.
Switchgear Monitoring System Market: Segments
Software and services to grow with the highest CAGR of 15.9% during 2020-30
Switchgear Monitoring System Market is segmented by Component into Hardware, Software and Services. Hardware based Switchgear Monitoring system, led the market in 2019, accounting for XX.X% of market share. Growing growth in the number of data centres launched in different nations is pushing the hardware segment's growth to its peak. Furthermore, due to its cost-effective advantage, the growing adoption of distribution network feeders and light emitting diodes by different industry verticals will also drive the growth of the hardware segment over the forecast period.
Switchgear Monitoring System Market: Market Dynamics
Drivers
Emergence of Voltage Regulations
Significant demand for the switchgear monitoring system has been captured by the advent of voltage regulations. For sending bulk power over long distances, HVDC transmission systems are more favored, with less power losses. It is likely that the advancement of the HVDC transmission system will generate growth opportunities for the global market for switchgear monitoring systems. Growing investments in renewable energy production are the other factors that are expected to increase demand for switchgear monitoring systems.
Restrain
High Cost of Installation
Switchgears separate electrical circuits from the power supply to enable maintenance activities to be carried out safely or to remove faults. The cost of implementing switchgear monitoring systems includes costs for software and licencing fees, IT testing, project management, integration of software, and training of staff. Thus, high capital on both hardware and software components is needed for the full-scale installation of switchgear monitoring systems.
Switchgear Monitoring System Market: Key Players
• ABB
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
• Eaton
• General Electric
• KONCAR - Electrical Engineering Institute, Inc
• Mitsubishi Electric Corporation
• Schneider Electric
• SENSeOR
• Siemens
• Tiara Vibrasindo Pratama
• Trafag AG
Switchgear Monitoring System Market: Regions
Switchgear Monitoring System Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Switchgear Monitoring System Market in North America held the largest market share of XX.X% in the year 2019 and it is expected to continue its market dominance in the future due to the inclination of a significant number of people to embrace technology. Asian countries, including East Asia and South Asia, are expected to see a strong growth in the global market for switchgear monitoring systems, owing to its rising digitization and the rise in complex infrastructure creation. Europe is expected to show strong growth in the demand for global switchgear tracking systems. MEA is one of the key budding regions that over the forecast period will generate noteworthy opportunities in the global market for switchgear monitoring systems.
Switchgear Monitoring System Market report also contains analysis on:
Switchgear Monitoring System Market Segments:
By Component:
• Hardware
• Software and Services
By Voltage:
• High Voltage
• Medium Voltage
By End-User:
• Energy and Utilities
• Manufacturing
• Banking, Financial Services, and Insurance
• Information Technology and Telecommunications
• Others
• Switchgear Monitoring System Market Dynamics
• Switchgear Monitoring System Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
FAQs on Switchgear Monitoring System Market
· Which segment is anticipated to hold the largest market share
· At what CAGR is the market anticipated to grow between 2020 and 2030
· Who are the key players in the Switchgear Monitoring System Market
· What could be the challenging factors in the growth of Switchgear Monitoring System Market
· What are the growth drivers for the Switchgear Monitoring System Market
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With tables and figures helping analyze worldwide Switchgear Monitoring System market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Contents
1. Executive Summary
2. Switchgear Monitoring System Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Switchgear Monitoring System Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Switchgear Monitoring System Market
11.1. Market Size & forecast, 2019A-2030F
11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Switchgear Monitoring System: Market Segmentation
12.1. By Regions
12.1.1. North America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.2. Europe:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.3. Asia-Pacific:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.4. MEA:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.5. Latin America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By Component: Market Share (2020-2030F)
12.2.1. Hardware, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. Software and Services, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F12.3 By Voltage: Market Share (2020-2030F)
12.3.1. High Voltage, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.2. Medium Voltage, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F12.4 By End-User: Market Share (2020-2030F)
12.4.1. Energy and Utilities, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.2. Manufacturing, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.3. BFSI, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.4. IT and Telecommunications, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.5. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13. Company Profile
13.1.1. ABB
13.1.2. Company Overview
13.1.3. Company Total Revenue (Financials)
13.1.4. Market Potential
13.1.5. Global Presence
13.1.6. Key Performance Indicators
13.1.7. SWOT Analysis
13.1.8. Product Launch
13.2. Eaton
13.3. General Electric
13.4. KONCAR - Electrical Engineering Institute, Inc
13.5. Mitsubishi Electric Corporation
13.6. Schneider Electric
13.7. SENSeOR
13.8. Siemens
13.9. Tiara Vibrasindo Pratama
13.10. Trafag AG
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
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The Switchgear Monitoring System Market has been segregated into various crucial divisions including applications, types, and regions. Each market segment is intensively studied in the report contemplating its market acceptance, worthiness, demand, and growth prospects. The segmentation analysis will help the client to customize their marketing approach to have a better command of each segment and to identify the most prospective customer base.
Report Objectives / Segmentation Covered :
By Companies / players:
By Regions:
By Type:
By Application:
Frequently asked questions(FAQ's):
MI used a variety of industry standards such as NAICS, ICB, TRIC, and others to identify functional players in the industry, which they then shortlist and validate in an iterative process to finalize the most relevant players.
In 2023, the Switchgear Monitoring System Market share exceeded USD xx million. Between 2024 and 2029, it will grow at a CAGR of yy%.
The influx of capital into the Switchgear Monitoring System Market, as well as the deployment of technologies designed to increase efficiency and yield high volume, are paving the way for promising market opportunities.
This latest research publication on the Switchgear Monitoring System Market is an in-depth market tracker that provides a comprehensive assessment of the challenges that manufacturers face in achieving new growth cycles in the current scenario.
