Switchgear Monitoring System Market worth $2.0 Billion by 2023 Switchgear Monitoring System Market $2 Bn by 2023

Switchgear Monitoring System Market worth $2.0 Billion by
2023
According to the new market research report "Switchgear Monitoring System Market by Switchgear Type (GIS,
AIS), Component (Hardware, Software) End-User (Utilities, Industries, Commercial, Others), Voltage (Medium,
High), Monitoring Type (Temperature, PD, Others), and Region - Global Forecast to 2023", published by
MarketsandMarkets™, the Switchgear Monitoring System Market is projected to reach USD 2.0 billion by 2023
from an estimated USD 1.4 billion in 2018, at a CAGR of 7.83%. As the global demand for electricity is
increasing at a very high rate, to meet the rising power demands, new power plants are being installed at a
rapid pace. This would drive the demand for switchgear monitoring system.
Browse 95 market data Tables and 36 Figures spread through 137 Pages and in-depth TOC
on "Switchgear Monitoring System Market “
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The high voltage segment is expected to hold the largest share of the Switchgear Monitoring
System Market, by voltage, during the forecast period.
The high voltage segment is estimated to dominate the Switchgear Monitoring System Market in 2018
and is projected to have the largest market share during the forecast period. This is mainly due to the fact
that high voltage switchgears are primarily used in power transmission over long distances. In the case of
critical substations and switchyards of large power generation plants, switchgears are used for reliability
and protection of the grid infrastructure.
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The partial discharge monitoring segment is expected to be the fastest growing segment of the
Switchgear Monitoring System Market, by monitoring type, during the forecast period.
The partial discharge monitoring segment accounted for the highest CAGR during the forecast period.
Partial discharge monitoring adopts various methods to detect cracks and defects in insulations such as
Transient Earth Voltage (TEV), Ultra-High-Frequency (UHF), and Acoustical Emission (AE). Partial discharge
monitoring includes partial discharge sensors, local readers such as RTU/PLC, HMI, data storage, and
communication protocols. This system enhances operator safety and provides confidence in the reliability
and safety of electrical equipment.
Asia Pacific: The leading market for switchgear monitoring system.