How big is the ai-based electrical switchgear market today, and what are its future growth expectations?
The AI-based electrical switchgear market size has grown strongly in recent years. It will grow from $25.99 billion in 2024 to $27.98 billion in 2025 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to smart grid integration, energy efficiency optimization, remote monitoring and control, integration with IoT sensors, and growing emphasis on digitalization in power systems.
The AI-based electrical switchgear market size is expected to see strong growth in the next few years. It will grow to $35.45 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing demand for AI-based power distribution and energy monitoring systems, growing demand for AI-based distribution, rising demand for energy management, expansion of power distribution infrastructure, and rising industrialization. Major trends in the forecast period include product innovation and advancement in AI-based switchgear, integration of computer technology in electrical systems, increasing investments, and increasing partnerships.
Get Your Free Sample of The Global AI-Based Electrical Switchgear Market Report:
What have been the primary factors driving the ai-based electrical switchgear market’s growth?
The rising industrialization is expected to propel the growth of the AI-based electrical switchgear market going forward. Industrialization is the process of transforming an economy from primarily agrarian and manual labor-based production to one characterized by mechanized manufacturing and increased use of technology. AI-based electrical switchgear is used in industrialization to monitor the health of electrical equipment in real-time, predicting potential failures and enabling preventive maintenance. For instance, in January 2024, according to a report published by the Federal Reserve Board, a US-based governing body of the Federal Reserve System, industrial production increased by 0.1%, with a 0.2% uptick in the production of consumer goods in December 2023. Further, the manufacturing output also experienced a 0.1% increase, while mining output saw a notable rise of 0.9% during the same period. Therefore, rising industrialization is driving the growth of the AI-based electrical switchgear market.
What are the key segments within 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
Order your report now for swift delivery
Which key players are shaping the ai-based electrical switchgear market?
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
How will emerging trends drive the ai-based electrical switchgear market throughout the forecast period?
Major companies operating in the AI-based electrical switchgear market are developing innovative products, such as digitally enabled switchgear, to better serve customers with advanced features. Digitally enabled switchgear refers to electrical switchgear that incorporates digital technologies and capabilities for improved monitoring, control, and automation. For instance, in May 2022, Schneider Electric SE, a France-based energy management and digital automation company, launched the SureSeT MV Switchgear and EvoPacT Circuit Breaker. The SureSeT MV Switchgear and EvoPacT Circuit Breaker offer a distinctive set of advantages compared to traditional equipment. Integrating advanced digital features, these solutions provide remote access, monitoring, and control of equipment health, enabling predictive maintenance and operational efficiency insights. Their compact design, which is 25% smaller than standard alternatives, optimizes space in commercial and industrial buildings. With a longer lifetime of 30,000 operations, three times the industry standard, and embedded sensors for early problem detection, they ensure greater uptime. Operating on condition-based maintenance rather than fixed time intervals, these solutions enhance operational safety by providing a comprehensive 360° insight into digital operations from a safe working distance.
How do regional factors impact the ai-based electrical switchgear market, and which region is the largest contributor?
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.
What Does The AI-Based Electrical Switchgear Market Report 2025 Offer?
The ai-based electrical switchgear market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
AI-based electrical switchgear refers to advanced electrical switchgear systems that leverage artificial intelligence (AI) to enhance their performance and capabilities. These systems are used in various sectors, including energy, infrastructure, industrial buildings, and energy management.
Purchase the exclusive report now to unlock valuable market insights:
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
Twitter: https://twitter.com/tbrc_info
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
