Press release
Global AI-Based Electrical Switchgear Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
AI-Based Electrical Switchgear
What Is the AI-Based Electrical Switchgear Market Size and Projected Growth Rate?
The market size of AI-based electrical switchgear has seen robust growth in the past few years. It is projected to expand from $25.99 billion in 2024 to $27.98 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. The growth witnessed during the historical period can be linked to factors such as the integration of smart grids, optimization of energy efficiency, remote monitoring and control, incorporation of IoT sensors, and an increased focus on digitization in power systems.
The marketplace for AI-centered electrical switchgear is projected to experience robust expansion in the upcoming years, escalating to a value of $35.45 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 6.1%. This growth during the forecast period can be ascribed to an escalating necessity for AI-supported power distribution and energy observation systems, a growing demand for AI-enabled distribution, an increased call for energy management, the amplification of power distribution infrastructure, and a rise in industrialization. Significant trends for the forecast period encompass product novelty and progress in AI-centered switchgear, the integration of computer technology into electrical systems, augmented investment activity, and a surge in partnerships.
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What Are the Major Segments in the AI-Based Electrical Switchgear Market?
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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What Are The Driving AI-Based Electrical Switchgear Market Evolution?
The surge in industrialization is predicted to drive the expansion of the AI-based electrical switchgear market in the future. Industrialization refers to the transformation of an economy from mainly agrarian and manual labor-based production to a system dominated by mechanized manufacturing and extensive use of technology. AI-based electrical switchgear aids in this process by providing real-time monitoring of the health of electrical equipment, predicting potential breakdowns, and facilitating preventive maintenance. For example, a report by the Federal Reserve Board, a US-based governing body of the Federal Reserve System, revealed that in January 2024, industrial production rose by 0.1%, and there was a 0.2% increase in consumer goods production in December 2023. Additionally, the manufacturing output also saw a 0.1% increase, while mining output witnessed a significant rise of 0.9% during the same timeframe. Hence, the escalating industrialization is fuelling the growth of the AI-based electrical switchgear market.
Which Firms Dominate The AI-Based Electrical Switchgear Market Segments?
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
What Trends Are Expected to Dominate the AI-Based Electrical Switchgear Market in the Next 5 Years?
Leading firms in the AI-oriented electrical switchgear market are introducing state-of-the-art products such as digitally equipped switchgear to satisfy consumer demand for more sophisticated features. This type of switchgear is integrated with digital technology, improving control, monitoring and automation. For example, in May 2022, Schneider Electric SE from France, which specializes in digital automation and energy management, revealed the SureSeT MV Switchgear and the EvoPacT Circuit Breaker. These products, compared to conventional devices, offer a unique set of benefits. With their advanced digital capabilities, they allow remote operation, monitoring, and health assessment of machines, unlocking potential for anticipatory maintenance and analysis of operational efficiency. Their condensed design, 25% smaller than standard models, maximizes space in commercial and industrial establishments. They boast a lifespan of 30,000 operations, threefold the industrial average, and have integrated sensors for early trouble detection, ensuring increased uptime. These solutions, which run on condition-based rather than time-based maintenance, enhance safety by delivering a complete 360-degree view of digital operations from a secure distance.
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Which Is The Largest Region 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI-Based Electrical Switchgear Market?
2. What is the CAGR expected in the AI-Based Electrical Switchgear Market?
3. What Are the Key Innovations Transforming the AI-Based Electrical Switchgear Industry?
4. Which Region Is Leading the AI-Based Electrical Switchgear Market?
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