Press release
Industrialization Fuels Growth In The AI-Based Electrical Switchgear Market Driver: A Major Catalyst in the Evolution of the AI-Based Electrical Switchgear Market in 2025
AI Based Electrical Switchgear Market Size
The escalation of industrialization is anticipated to boost the AI-based electrical switchgear market's progression. Industrialization refers to the transformation of an economy from being majorly agricultural and reliant on manual labor to a stage that is defined by mechanized production and enhanced use of technology. AI-based electrical switchgear fulfills a crucial role in this transformation by helping sense the condition of electrical equipment in real-time and foretelling potential malfunctions, thereby allowing preventative maintenance. For example, a report by the Federal Reserve Board, the governing body of the Federal Reserve System in the US, declared in January 2024 that there was a 0.1% rise in industrial production, coupled with a 0.2% increase in consumer goods production in December 2023. Additionally, there was also a slight 0.1% surge in manufacturing output, while the mining output experienced a significant 0.9% rise in the same timeframe. Consequently, the ascending trend of industrialization is fuelling the expansion of the AI-based electrical switchgear market.
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How will the growth rate of the ai-based electrical switchgear market shape industry trends by 2034?
There has been substantial growth in the AI-based electrical switchgear market in the recent past. The market size is projected to increase from $25.99 billion in 2024 to $27.98 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.7%. Factors responsible for this growth during the historical phase include the incorporation of smart grids, optimization of energy efficiency, the ability to remotely monitor and control, integration with IoT sensors, and a heightened focus on digitization in power systems.
Projection suggests a substantial spike in the AI-powered electrical switchgear market in the forthcoming years, with its value expected to reach $35.45 billion by 2029, expanding at a CAGR of 6.1%. This bullish trend in the forecasted period can be accredited to the escalating demand for AI-aided power distribution and energy surveillance systems. Additionally, the surging demand for AI-backed distribution, increasing needs for energy management, developing power distribution infrastructure, and industrial growth are contributing factors. Key emerging trends during this forecasted period include the expansion and enhancement of AI-based switchgear products, the marriage of computer technology with electrical systems, a boost in investments, and an uptick in collaboration ventures.
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What trends are poised to drive the future success of the ai-based electrical switchgear market?
Leading businesses in the AI-based electrical switchgear market are focusing on the creation of innovative products, such as digitally enabled switchgear, in order to deliver superior services to customers through advanced features. This concept refers to the type of electrical switchgear that is embedded with digital tech and abilities for enhanced monitoring, controlling, and automation purposes. Schneider Electric SE -- an energy management and digital automation firm headquartered in France -- exemplified this in May 2022 with the launch of the SureSeT MV Switchgear and EvoPacT Circuit Breaker. These products offer a unique range of benefits over traditional equipment due to the inclusion of advanced digital features. They provide remote accessibility, material health monitoring, and control options, paving the way for predictive maintenance and insights into operational efficiency. The compact design of these products, which is 25% less in size compared to standard alternatives, allows for optimal space utilization in commercial and industrial environments. They promise a longer lifespan with 30,000 operations, three times the industry average, and come equipped with sensors for early detection of possible issues, contributing to increased uptime. Their maintenance is based on condition instead of fixed time intervals, improving overall operational safety by offering an all-around view into digital operations from a safe operational distance.
Which primary segments of the ai-based electrical switchgear market are driving growth and industry transformations?
The AI-based electrical switchgear market covered in this report is segmented -
1) By Type: Low Voltage Switchgear, Medium Voltage Switchgear, High Voltage Switchgear
2) By Installation: Indoor, Outdoor
3) By End User: Transmission And Distribution Utilities, Commercial, Industrial, Residential, Other End Users
Subsegments:
1) By Low Voltage Switchgear: Distribution Boards, Circuit Breakers, Switch Disconnectors
2) By Medium Voltage Switchgear: Gas-Insulated Switchgear (GIS), Air-Insulated Switchgear (AIS), Ring Main Units (RMUs)
3) By High Voltage Switchgear: Circuit Breakers, Disconnectors, Switches And Busbars
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Which geographical regions are pioneering growth in the ai-based electrical switchgear market?
North America was the largest region in the AI-based electrical switchgear market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI-based electrical switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the ai-based electrical switchgear market landscape?
Major companies operating in the AI-based electrical switchgear market report are Hitachi Ltd, Siemens AG, General Electric Company, Haier CAOS IOT Ecological Technology Co. Ltd, Schneider Electric, Mitsubishi Electric, ABB Ltd., Southern Company, Duke Energy Corp., Toshiba International Corporation, Eaton Corporation, Dominion Energy Inc., Emerson Electric Co., Shenzhen Hankang Electric Automation Co. Ltd, Signify, Rockwell Automation Inc., Havells India Limited, Meidensha Corporation, Crompton Greaves Limited, Lutron Electronics Company, Lucy Electric UK Ltd., G&W Electric, Main Systems Ltd, Jiangsu Daye Intelligent Electric Co. Ltd., SwitchGear Company NV, Electrical Engineering Portal
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What Is Covered In The AI-Based Electrical Switchgear Global Market Report?
• Market Size Forecast: Examine the ai-based electrical switchgear market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai-based electrical switchgear market for a structured understanding.
• Key Players Overview: Analyze major players in the ai-based electrical switchgear market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai-based electrical switchgear market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai-based electrical switchgear market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai-based electrical switchgear market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai-based electrical switchgear market.
• Competitive Landscape: Review strategic developments in the ai-based electrical switchgear market, including expansions, agreements, and new product launches.
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