1 INTRODUCTION 28 
1.1 STUDY OBJECTIVES 28 
1.2 MARKET DEFINITION 28 
1.2.1 INCLUSIONS AND EXCLUSIONS 29 
1.3 STUDY SCOPE 30 
1.3.1 MARKETS COVERED 30 
1.3.2 REGIONAL SCOPE 31 
1.3.3 YEARS CONSIDERED 31 
1.4 UNIT CONSIDERED 31 
1.5 CURRENCY CONSIDERED 32 
1.6 LIMITATIONS 32 
1.7 STAKEHOLDERS 32 
1.8 SUMMARY OF CHANGES 32 
1.9 IMPACT OF RECESSION 32 
2 RESEARCH METHODOLOGY 33 
2.1 RESEARCH APPROACH 33 
FIGURE 1 SWITCHGEAR MONITORING SYSTEM MARKET: RESEARCH DESIGN 33 
2.2 DATA TRIANGULATION 34 
FIGURE 2 DATA TRIANGULATION 34 
2.2.1 SECONDARY DATA 35 
2.2.1.1 Key data from secondary sources 35 
2.2.2 PRIMARY DATA 35 
2.2.2.1 List of key primary interview participants 36 
2.2.2.2 Key data from primary sources 36 
2.2.2.3 Breakdown of primaries 37 
FIGURE 3 BREAKDOWN OF PRIMARIES 37 
2.3 RESEARCH SCOPE 38 
FIGURE 4 MAIN METRICS CONSIDERED TO ASSESS DEMAND FOR SWITCHGEAR MONITORING SYSTEM 38 
2.4 MARKET SIZE ESTIMATION 39 
2.4.1 BOTTOM-UP APPROACH 39 
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 39 
2.4.2 TOP-DOWN APPROACH 40 
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 40 
2.4.3 DEMAND-SIDE ANALYSIS 41 
2.4.3.1 Regional analysis 41 
2.4.3.2 Country-level analysis 42 
  
2.4.3.3 Demand-side assumptions 42 
2.4.3.4 Demand-side calculations 42 
2.4.4 SUPPLY-SIDE ANALYSIS 43 
FIGURE 7 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF SWITCHGEAR MONITORING SYSTEMS 43 
FIGURE 8 SWITCHGEAR MONITORING SYSTEM MARKET: SUPPLY-SIDE ANALYSIS 43 
2.4.4.1 Supply-side assumptions 44 
2.4.4.2 Supply-side calculations 44 
FIGURE 9 COMPANY REVENUE ANALYSIS, 2022 44 
2.4.5 FORECAST 44 
2.5 RISK ASSESSMENT 45 
2.6 RECESSION IMPACT 45 
3 EXECUTIVE SUMMARY 46 
TABLE 1 SWITCHGEAR MONITORING SYSTEM MARKET: SNAPSHOT 46 
FIGURE 10 GAS-INSULATED SWITCHGEAR SEGMENT TO HOLD LARGER MARKET  SHARE IN 2023 47 
FIGURE 11 HARDWARE SEGMENT TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD 48 
FIGURE 12 HIGH AND EXTRA HIGH VOLTAGE SEGMENT TO SECURE LARGEST MARKET SHARE DURING FORECAST PERIOD 48 
FIGURE 13 TEMPERATURE MONITORING SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 49 
FIGURE 14 UTILITIES SEGMENT TO SECURE LARGEST MARKET SHARE IN 2028 49 
FIGURE 15 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF GLOBAL SWITCHGEAR MONITORING SYSTEM MARKET IN 2022 50 
4 PREMIUM INSIGHTS 51 
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SWITCHGEAR MONITORING SYSTEM MARKET 51 
FIGURE 16 GROWING DEPLOYMENT OF SMART GRIDS AND INCREASING DIGITALIZATION TO DRIVE MARKET 51 
4.2 SWITCHGEAR MONITORING SYSTEM MARKET IN ASIA PACIFIC,  BY END USER AND COUNTRY 52 
FIGURE 17 UTILITIES SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC SWITCHGEAR MONITORING SYSTEM MARKET IN 2022 52 
4.3 SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE 52 
FIGURE 18 GAS-INSULATED SWITCHGEAR SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2028 52 
4.4 SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT 53 
FIGURE 19 HARDWARE TO SECURE LARGER MARKET SHARE IN 2028 53 
4.5 SWITCHGEAR MONITORING SYSTEM MARKET, BY VOLTAGE 53 
FIGURE 20 HIGH AND EXTRA HIGH VOLTAGE SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD 53 
4.6 SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICE 54 
FIGURE 21 TEMPERATURE MONITORING SEGMENT TO COMMAND MARKET IN 2028 54 
4.7 SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER 54 
FIGURE 22 UTILITIES SEGMENT TO COMMAND MARKET IN 2028 54 
5 MARKET OVERVIEW 55 
5.1 INTRODUCTION 55 
5.2 MARKET DYNAMICS 55 
FIGURE 23 SWITCHGEAR MONITORING SYSTEM MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 55 
5.2.1 DRIVERS 56 
5.2.1.1 Shift from conventional maintenance methods to condition-based services 56 
TABLE 2 PROJECTS/REGULATIONS BY DIFFERENT COUNTRIES FOR ENERGY TRANSITION 56 
5.2.1.2 Strengthened power distribution infrastructure 56 
5.2.1.3 Rising use of electric distribution and transmission systems powered by renewable energy sources 57 
FIGURE 24 ANNUAL CLEAN ENERGY INVESTMENT (USD BILLION) 57 
FIGURE 25 ENERGY TRANSITION INVESTMENT BY TOP 10 COUNTRIES, 2021 58 
5.2.2 RESTRAINTS 58 
5.2.2.1 High installation cost 58 
5.2.3 OPPORTUNITIES 58 
5.2.3.1 Growing deployment of smart grids 58 
FIGURE 26 ANNUAL INVESTMENT EXPENDITURE ON ELECTRICITY GRIDS, 2015–2022 59 
5.2.4 CHALLENGES 59 
5.2.4.1 Inadequate data storage and management concerns 59 
5.2.4.2 Susceptibility of switchgear monitoring systems to cyber threats 59 
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 60 
FIGURE 27 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 60 
5.4 ECOSYSTEM ANALYSIS 60 
TABLE 3 COMPANIES AND THEIR ROLES IN SWITCHGEAR MONITORING SYSTEM ECOSYSTEM 60 
FIGURE 28 ECOSYSTEM/MARKET MAP 62 
5.5 VALUE CHAIN ANALYSIS 63 
FIGURE 29 VALUE CHAIN ANALYSIS: SYSTEM MANUFACTURERS/INSTALLATION AND MAINTENANCE SERVICE PROVIDERS TO ADD MAXIMUM VALUE TO OVERALL PRODUCT 63 
5.5.1 RAW MATERIAL/COMPONENT PROVIDERS 63 
5.5.2 SWITCHGEAR MONITORING SYSTEM MANUFACTURERS 64 
5.5.3 DISTRIBUTORS/RESELLERS 64 
5.5.4 END USERS/OPERATORS 64 
5.5.5 MAINTENANCE/SERVICE PROVIDERS 64 
5.6 TECHNOLOGY ANALYSIS 64 
5.6.1 SURFACE ACOUSTIC WAVE (SAW) TECHNOLOGY 64 
5.6.2 INTELLIGENT SWITCHGEAR 65 
5.7 PRICING ANALYSIS 65 
FIGURE 30 AVERAGE SELLING PRICE (ASP) TREND OF SWITCHGEAR MONITORING SYSTEMS, BY TYPE, 2017–2022 65 
TABLE 4 AVERAGE SELLING PRICE (ASP) TREND OF SWITCHGEAR MONITORING SYSTEMS,  BY TYPE (USD/UNIT) 66 
TABLE 5 AVERAGE SELLING PRICE (ASP) TREND OF SWITCHGEAR MONITORING SYSTEMS,  BY REGION (USD/UNIT) 66 
FIGURE 31 AVERAGE SELLING PRICE (ASP) TREND OF SWITCHGEAR MONITORING SYSTEMS, BY REGION 66 
5.8 TARIFFS, STANDARDS, AND REGULATORY LANDSCAPE 67 
5.8.1 TARIFFS 67 
TABLE 6 IMPORT DATA FOR HS 8536-COMPLIANT LOW-VOLTAGE PROTECTION EQUIPMENT, 2019 67 
TABLE 7 IMPORT DATA FOR HS 8535-COMPLIANT HIGH-VOLTAGE PROTECTION EQUIPMENT, 2019 68 
5.8.2 REGULATORY LANDSCAPE 68 
TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS 68 
TABLE 9 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 70 
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71 
TABLE 11 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS 72 
5.8.3 STANDARDS 72 
5.9 PATENT ANALYSIS, 2021–2023 74 
TABLE 12 SWITCHGEAR MONITORING SYSTEM MARKET: LIST OF PATENTS, 2021–2023 74 
5.10 TRADE ANALYSIS 76 
5.10.1 IMPORT SCENARIO 76 
TABLE 13 IMPORT DATA FOR HS CODE-853590 COMPLIANT PRODUCTS, BY COUNTRY,  2020–2022 (USD THOUSAND) 76 
5.10.2 EXPORT SCENARIO 77 
TABLE 14 EXPORT DATA FOR HS CODE-853590 COMPLIANT PRODUCTS, BY COUNTRY,  2020–2022 (USD THOUSAND) 77 
5.11 PORTER’S FIVE FORCES ANALYSIS 78 
TABLE 15 SWITCHGEAR MONITORING SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS 78 
FIGURE 32 SWITCHGEAR MONITORING SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS 78 
5.11.1 THREAT OF SUBSTITUTES 79 
5.11.2 BARGAINING POWER OF SUPPLIERS 79 
5.11.3 BARGAINING POWER OF BUYERS 79 
5.11.4 THREAT OF NEW ENTRANTS 79 
5.11.5 INTENSITY OF COMPETITIVE RIVALRY 80 
  
5.12 KEY CONFERENCES AND EVENTS, 2023–2024 80 
TABLE 16 SWITCHGEAR MONITORING SYSTEM MARKET: LIST OF CONFERENCES AND EVENTS 80 
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 81 
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 81 
FIGURE 33 KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END USERS 81 
TABLE 17 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 81 
5.14 BUYING CRITERIA 82 
FIGURE 34 KEY BUYING CRITERIA FOR TOP THREE END USERS 82 
TABLE 18 KEY BUYING CRITERIA FOR TOP THREE END USERS 82 
5.15 CASE STUDY ANALYSIS 82 
5.15.1 USE OF DEEP LEARNING TECHNOLOGY-BASED MONITORING SYSTEM TO DETECT SWITCHGEAR FAULTS AT MEDIUM VOLTAGE 82 
5.15.2 ADOPTION OF TIME-OF-LIGHT MEASUREMENT TECHNIQUE TO AVOID MC SWITCHGEAR FAILURE 83 
5.15.3 INSTALLATION AND COMMISSIONING OF TEMPERATURE MONITORING TECHNOLOGY ON CIRCUIT BREAKERS TO PREVENT ELECTRICAL ASSET FAILURE 84 
6 SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE 85 
6.1 INTRODUCTION 86 
FIGURE 35 GAS-INSULATED SWITCHGEAR SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2022 86 
TABLE 19 SWITCHGEAR MONITORING SYSTEM MARKET, BY PRODUCT, 2021–2028 (USD MILLION) 86 
6.2 GAS-INSULATED SWITCHGEAR 87 
6.2.1 DEPLOYMENT IN HIGH-VOLTAGE APPLICATIONS TO BOOST DEMAND 87 
TABLE 20 GAS-INSULATED SWITCHGEAR: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION) 87 
6.3 AIR-INSULATED SWITCHGEAR 87 
6.3.1 EASE OF MAINTENANCE AND ENVIRONMENT-FRIENDLY NATURE TO ACCELERATE DEMAND 87 
TABLE 21 AIR-INSULATED SWITCHGEAR: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION) 88 
7 SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT 89 
7.1 INTRODUCTION 90 
FIGURE 36 HARDWARE SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2022 90 
TABLE 22 SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT,  2021–2028 (USD MILLION) 90 
7.2 HARDWARE 91 
7.2.1 ONGOING TECHNOLOGICAL ADVANCEMENTS IN HARDWARE COMPONENTS TO OFFER LUCRATIVE GROWTH OPPORTUNITIES  TO PLAYERS 91 
7.2.2 INTELLIGENT EQUIPMENT DEVICES 91 
7.2.3 DISTRIBUTION NETWORK FEEDERS 92 
7.2.4 OTHER HARDWARE COMPONENTS 92 
TABLE 23 HARDWARE: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 92 
7.3 SOFTWARE 93 
7.3.1 PRESSING NEED TO HANDLE DATA PROCESSING AND EXECUTION TO BOOST DEMAND FOR SECURE AND EMBEDDED SOFTWARE 93 
TABLE 24 SOFTWARE: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 93 
8 SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICE 94 
8.1 INTRODUCTION 95 
FIGURE 37 TEMPERATURE MONITORING SEGMENT DOMINATED MARKET IN 2022 95 
TABLE 25 SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICES, 2021–2028 (USD MILLION) 95 
8.2 PARTIAL DISCHARGE MONITORING 96 
8.2.1 GROWING DEMAND FOR HIGH-PERFORMANCE AND RELIABLE ELECTRICAL ASSETS TO STIMULATE DEMAND 96 
TABLE 26 PARTIAL DISCHARGE MONITORING: SWITCHGEAR MONITORING SYSTEM MARKET,  BY REGION, 2021–2028 (USD MILLION) 97 
8.3 GAS MONITORING 97 
8.3.1 NEED TO MONITOR OPERATING TEMPERATURE OF ELECTRICAL EQUIPMENT TO ELEVATE DEMAND 97 
TABLE 27 GAS MONITORING: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 97 
8.4 TEMPERATURE MONITORING 98 
8.4.1 CRITICAL NEED FOR DETECTING OPERATING TEMPERATURE OF ELECTRICAL EQUIPMENT HEALTH TO FOSTER SEGMENTAL GROWTH 98 
TABLE 28 TEMPERATURE MONITORING: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION) 98 
8.5 OTHER SERVICES 98 
TABLE 29 OTHER SERVICES: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 99 
9 SWITCHGEAR MONITORING SYSTEM MARKET, BY VOLTAGE 100 
9.1 INTRODUCTION 101 
FIGURE 38 HIGH AND EXTRA HIGH VOLTAGE SEGMENT HELD MAXIMUM MARKET  SHARE IN 2022 101 
TABLE 30 SWITCHGEAR MONITORING SYSTEM MARKET, BY PRODUCT, 2021–2028 (USD MILLION) 101 
9.2 LOW VOLTAGE 102 
9.2.1 ABILITY TO ENHANCE SAFETY AND RELIABILITY BY PROVIDING REAL-TIME INSIGHTS TO BOOST DEMAND 102 
TABLE 31 LOW VOLTAGE: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 102 
9.3 MEDIUM VOLTAGE 102 
9.3.1 ABILITY TO OFFER ELECTRICAL PROTECTION AGAINST OVERLOAD CURRENTS AND PREVENT INSULATION FAILURES TO BOOST DEMAND 102 
TABLE 32 MEDIUM VOLTAGE: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 103 
9.4 HIGH AND EXTRA HIGH VOLTAGE 103 
9.4.1 RAPID DEVELOPMENT OF POWER TRANSMISSION NETWORKS IN DEVELOPING COUNTRIES TO BOOST DEMAND 103 
TABLE 33 HIGH AND EXTRA HIGH VOLTAGE: SWITCHGEAR MONITORING SYSTEM MARKET,  BY REGION, 2021–2028 (USD MILLION) 104 
10 SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER 105 
10.1 INTRODUCTION 106 
FIGURE 39 UTILITIES SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2022 106 
TABLE 34 SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER, 2021–2028 (USD MILLION) 106 
10.2 UTILITIES 107 
10.2.1 IMPLEMENTATION OF IP NETWORKS TO ENHANCE MONITORING CAPABILITIES OF SWITCHGEAR TO DRIVE MARKET 107 
TABLE 35 UTILITIES: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 107 
10.3 INDUSTRIAL 107 
10.3.1 STRONG FOCUS OF INDUSTRIES ON PREVENTING FINANCIAL LOSSES ASSOCIATED WITH POWER TO DRIVE MARKET 107 
TABLE 36 INDUSTRIAL: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 108 
10.4 COMMERCIAL 108 
10.4.1 RAPID URBANIZATION IN DEVELOPING COUNTRIES TO OFFER LUCRATIVE GROWTH OPPORTUNITIES TO PLAYERS 108 
TABLE 37 COMMERCIAL: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 109 
10.5 OTHER END USERS 109 
TABLE 38 OTHER END USERS: SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION,  2021–2028 (USD MILLION) 109 
11 SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION 110 
11.1 INTRODUCTION 111 
FIGURE 40 ASIA PACIFIC TO RECORD HIGHEST CAGR FROM 2023 TO 2028 112 
FIGURE 41 ASIA PACIFIC HELD FOR LARGEST SHARE OF GLOBAL SWITCHGEAR MONITORING SYSTEM MARKET IN 2022 112 
TABLE 39 SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION) 113 
TABLE 40 SWITCHGEAR MONITORING SYSTEM MARKET, BY REGION, 2021–2028 (UNITS) 113 
11.2 EUROPE 113 
FIGURE 42 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET SNAPSHOT 114 
11.2.1 RECESSION IMPACT ON MARKET IN EUROPE 115 
TABLE 41 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 115 
TABLE 42 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY VOLTAGE, 2021–2028 (USD MILLION) 115 
TABLE 43 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY HIGH AND EXTRA HIGH VOLTAGE, 2021–2028 (USD MILLION) 115 
TABLE 44 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET, BY VOLTAGE,  2021–2028 (USD MILLION) 116 
TABLE 45 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT,  2021–2028 (USD MILLION) 116 
TABLE 46 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICE,  2021–2028 (USD MILLION) 116 
TABLE 47 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET FOR PARTIAL DISCHARGE MONITORING, BY TYPE, 2021–2028 (USD MILLION) 117 
TABLE 48 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER,  2021–2028 (USD MILLION) 117 
TABLE 49 EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET, BY COUNTRY,  2021–2028 (USD MILLION) 117 
11.2.2 UK 118 
11.2.2.1 Rising integration of renewable energy into power mix to drive market 118 
TABLE 50 UK: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION) 118 
11.2.3 GERMANY 118 
11.2.3.1 Enforcement of stringent rules for deployment of power transmission grids to fuel market growth 118 
TABLE 51 GERMANY: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 119 
11.2.4 FRANCE 119 
11.2.4.1 Growing dependence on nuclear power plants to contribute to market growth 119 
TABLE 52 FRANCE: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 119 
11.2.5 ITALY 120 
11.2.5.1 Escalating investments in green energy projects to augment adoption of switchgear monitoring systems 120 
TABLE 53 ITALY: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION) 120 
11.2.6 RUSSIA 120 
11.2.6.1 Rising commitment toward carbon neutrality to accelerate market growth 120 
TABLE 54 RUSSIA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 121 
11.2.7 REST OF EUROPE 121 
TABLE 55 REST OF EUROPE: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 121 
11.3 ASIA PACIFIC 121 
FIGURE 43 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET SNAPSHOT 123 
11.3.1 RECESSION IMPACT ON MARKET IN ASIA PACIFIC 123 
TABLE 56 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 124 
TABLE 57 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY VOLTAGE, 2021–2028 (USD MILLION) 124 
TABLE 58 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY HIGH AND EXTRA HIGH VOLTAGE, 2021–2028 (USD MILLION) 124 
TABLE 59 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET, BY VOLTAGE, 2021–2028 (USD MILLION) 124 
TABLE 60 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT,  2021–2028 (USD MILLION) 125 
TABLE 61 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICE,  2021–2028 (USD MILLION) 125 
TABLE 62 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET FOR PARTIAL DISCHARGE MONITORING, BY TYPE, 2021–2028 (USD MILLION) 125 
TABLE 63 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER,  2021–2028 (USD MILLION) 125 
TABLE 64 ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET, BY COUNTRY,  2021–2028 (USD MILLION) 126 
11.3.2 CHINA 126 
11.3.2.1 Increasing investments in renewable energy projects to support market growth 126 
TABLE 65 CHINA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 127 
11.3.3 JAPAN 127 
11.3.3.1 Rising government-led initiatives to meet power supply demand to fuel market growth 127 
TABLE 66 JAPAN: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 128 
11.3.4 INDIA 128 
11.3.4.1 Shifting focus toward electrification of remote areas to propel market 128 
TABLE 67 INDIA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 128 
11.3.5 SOUTH KOREA 129 
11.3.5.1 Increasing developments of offshore wind infrastructure to contribute to market growth 129 
TABLE 68 SOUTH KOREA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 129 
11.3.6 AUSTRALIA 129 
11.3.6.1 Rising electrification of railroad networks to accelerate market growth 129 
TABLE 69 AUSTRALIA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 130 
11.3.7 REST OF ASIA PACIFIC 130 
TABLE 70 REST OF ASIA PACIFIC: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 130 
  
11.4 NORTH AMERICA 131 
11.4.1 RECESSION IMPACT ON MARKET IN NORTH AMERICA 131 
TABLE 71 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 131 
TABLE 72 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY VOLTAGE, 2021–2028 (USD MILLION) 132 
TABLE 73 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY HIGH AND EXTRA HIGH VOLTAGE, 2021–2028 (USD MILLION) 132 
TABLE 74 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY VOLTAGE, 2021–2028 (USD MILLION) 132 
TABLE 75 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT,  2021–2028 (USD MILLION) 132 
TABLE 76 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICE,  2021–2028 (USD MILLION) 133 
TABLE 77 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR PARTIAL DISCHARGE MONITORING SERVICE, BY TYPE, 2021–2028 (USD MILLION) 133 
TABLE 78 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER,  2021–2028 (USD MILLION) 133 
TABLE 79 NORTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY COUNTRY,  2021–2028 (USD MILLION) 134 
11.4.2 US 134 
11.4.2.1 Strong focus on renewable energy infrastructure development to contribute to market growth 134 
TABLE 80 US: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION) 134 
11.4.3 CANADA 134 
11.4.3.1 Rising investments in wind energy projects to foster market growth 134 
TABLE 81 CANADA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 135 
11.4.4 MEXICO 135 
11.4.4.1 Growing focus on generating power using renewable sources to fuel market growth 135 
TABLE 82 MEXICO: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 135 
11.5 MIDDLE EAST & AFRICA 136 
11.5.1 RECESSION IMPACT ON MARKET IN MIDDLE EAST & AFRICA 136 
TABLE 83 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 136 
TABLE 84 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY VOLTAGE, 2021–2028 (USD MILLION) 137 
TABLE 85 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR  GAS-INSULATED SWITCHGEAR, BY HIGH AND EXTRA HIGH VOLTAGE,  2021–2028 (USD MILLION) 137 
TABLE 86 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY VOLTAGE, 2021–2028 (USD MILLION) 137 
TABLE 87 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT, 2021–2028 (USD MILLION) 137 
TABLE 88 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICE, 2021–2028 (USD MILLION) 138 
TABLE 89 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, PARTIAL DISCHARGE MONITORING, 2021–2028 (USD MILLION) 138 
TABLE 90 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER,  2021–2028 (USD MILLION) 138 
TABLE 91 MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY COUNTRY,  2021–2028 (USD MILLION) 139 
TABLE 92 REST OF GCC GCC COUNTRIES: SWITCHGEAR MONITORING SYSTEM MARKET,  BY COUNTRY, 2021–2028 (USD MILLION) 139 
11.5.2 REST OF GCC COUNTRIES 139 
11.5.2.1 Saudi Arabia 139 
11.5.2.1.1 Rising initiatives to generate power through renewable sources to drive market 139 
TABLE 93 SAUDI ARABIA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 140 
11.5.2.2 UAE 140 
11.5.2.2.1 Growing emphasis on improving onshore power grid to accelerate market growth 140 
TABLE 94 UAE: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION) 140 
11.5.2.3 Kuwait 141 
11.5.2.3.1 Increasing transition toward clean energy to boost adoption of switchgear monitoring systems 141 
TABLE 95 KUWAIT: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 141 
11.5.2.4 Rest of GCC countries 141 
TABLE 96 REST OF GCC COUNTRIES: SWITCHGEAR MONITORING SYSTEM MARKET,  BY TYPE, 2021–2028 (USD MILLION) 142 
11.5.3 SOUTH AFRICA 142 
11.5.3.1 Rising focus on modernizing grid infrastructure to fuel market growth 142 
TABLE 97 SOUTH AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET,  BY TYPE, 2021–2028 (USD MILLION) 142 
11.5.4 REST OF MIDDLE EAST & AFRICA 143 
TABLE 98 REST OF MIDDLE EAST & AFRICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION) 143 
11.6 SOUTH AMERICA 143 
11.6.1 RECESSION IMPACT ON MARKET IN SOUTH AMERICA 143 
TABLE 99 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 144 
TABLE 100 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY VOLTAGE, 2021–2028 (USD MILLION) 144 
TABLE 101 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR GAS-INSULATED SWITCHGEAR, BY HIGH AND EXTRA HIGH VOLTAGE, 2021–2028 (USD MILLION) 144 
TABLE 102 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY VOLTAGE,  2021–2028 (USD MILLION) 144 
TABLE 103 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY COMPONENT,  2021–2028 (USD MILLION) 145 
TABLE 104 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY SERVICE,  2021–2028 (USD MILLION) 145 
TABLE 105 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET FOR PARTIAL DISCHARGE MONITORING, BY TYPE, 2021–2028 (USD MILLION) 145 
TABLE 106 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER,  2021–2028 (USD MILLION) 146 
TABLE 107 SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY COUNTRY,  2021–2028 (USD MILLION) 146 
11.6.2 BRAZIL 146 
11.6.2.1 Surging power demand and need for electrification to propel market 146 
TABLE 108 BRAZIL: SWITCHGEAR MONITORING SYSTEM MARKET, BY TYPE,  2021–2028 (USD MILLION) 147 
11.6.3 ARGENTINA 147 
11.6.3.1 Increasing government investments in offshore gas production projects to drive market 147 
TABLE 109 ARGENTINA: SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER,  2021–2028 (USD MILLION) 148 
11.6.4 REST OF SOUTH AMERICA 148 
TABLE 110 REST OF SOUTH AMERICA: SWITCHGEAR MONITORING SYSTEM MARKET, BY END USER, 2021–2028 (USD MILLION) 148 
12 COMPETITIVE LANDSCAPE 149 
12.1 OVERVIEW 149 
12.2 STRATEGIES ADOPTED BY MAJOR PLAYERS, 2022–2023 149 
TABLE 111 SWITCHGEAR MONITORING SYSTEM MARKET: OVERVIEW OF STRATEGIES ADOPTED  BY KEY PLAYERS, 2022–2023 149 
12.3 MARKET SHARE ANALYSIS, 2022 150 
FIGURE 44 SWITCHGEAR MONITORING SYSTEM MARKET SHARE ANALYSIS, 2022 150 
TABLE 112 SWITCHGEAR MONITORING SYSTEM MARKET ANALYSIS, 2022 150 
FIGURE 45 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2022 151 
12.4 REVENUE ANALYSIS, 2018–2022 152 
FIGURE 46 SWITCHGEAR MONITORING SYSTEM MARKET: REVENUE ANALYSIS OF  TOP FIVE PLAYERS 152 
12.5 COMPANY EVALUATION MATRIX, 2022 153 
12.5.1 STARS 153 
12.5.2 EMERGING LEADERS 153 
12.5.3 PERVASIVE PLAYERS 153 
12.5.4 PARTICIPANTS 153 
FIGURE 47 SWITCHGEAR MONITORING SYSTEM MARKET: COMPANY EVALUATION  MATRIX, 2022 154 
12.5.5 COMPANY FOOTPRINT 155 
TABLE 113 COMPANY VOLTAGE FOOTPRINT 155 
TABLE 114 COMPANY TYPE FOOTPRINT 156 
TABLE 115 COMPANY END USER FOOTPRINT 157 
TABLE 116 COMPANY REGION FOOTPRINT 158 
TABLE 117 OVERALL COMPANY FOOTPRINT 159 
12.6 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2022 160 
12.6.1 PROGRESSIVE COMPANIES 160 
12.6.2 RESPONSIVE COMPANIES 160 
12.6.3 DYNAMIC COMPANIES 160 
12.6.4 STARTING BLOCKS 160 
FIGURE 48 START-UPS/SMES EVALUATION MATRIX, 2022 161 
12.6.5 COMPETITIVE BENCHMARKING 162 
TABLE 118 SWITCHGEAR MONITORING SYSTEM MARKET: LIST OF KEY START-UPS/SMES 162 
TABLE 119 SWITCHGEAR MONITORING SYSTEM MARKET: COMPETITIVE BENCHMARKING  OF START-UPS 162 
12.7 COMPETITIVE SCENARIOS AND TRENDS 163 
12.7.1 PRODUCT LAUNCHES 163 
TABLE 120 SWITCHGEAR MONITORING SYSTEM MARKET: PRODUCT LAUNCHES, 2023 163 
12.7.2 DEALS 163 
TABLE 121 SWITCHGEAR MONITORING SYSTEM MARKET: DEALS, 2021–2023 163 
13 COMPANY PROFILES 165 
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)* 
13.1 KEY PLAYERS 165 
13.1.1 SIEMENS ENERGY 165 
TABLE 122 SIEMENS ENERGY: COMPANY OVERVIEW 165 
FIGURE 49 SIEMENS ENERGY: COMPANY SNAPSHOT 166 
TABLE 123 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 166 
TABLE 124 SIEMENS ENERGY: DEALS 167 
13.1.2 ABB 168 
TABLE 125 ABB: COMPANY OVERVIEW 168 
FIGURE 50 ABB: COMPANY SNAPSHOT 169 
TABLE 126 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 169 
TABLE 127 ABB: PRODUCT LAUNCHES 170 
13.1.3 SCHNEIDER ELECTRIC 171 
TABLE 128 SCHNEIDER ELECTRIC: COMPANY OVERVIEW 171 
FIGURE 51 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 172 
TABLE 129 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 172 
TABLE 130 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 173 
TABLE 131 SCHNEIDER ELECTRIC: DEALS 173 
13.1.4 EATON 175 
TABLE 132 EATON: COMPANY OVERVIEW 175 
FIGURE 52 EATON: COMPANY SNAPSHOT 176 
TABLE 133 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 176 
TABLE 134 EATON: DEALS 177 
13.1.5 GENERAL ELECTRIC 178 
TABLE 135 GENERAL ELECTRIC: COMPANY OVERVIEW 178 
FIGURE 53 GENERAL ELECTRIC: COMPANY SNAPSHOT 179 
TABLE 136 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 179 
TABLE 137 GENERAL ELECTRIC: PRODUCT LAUNCHES 180 
13.1.6 MITSUBISHI ELECTRIC CORPORATION 181 
TABLE 138 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW 181 
FIGURE 54 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT 182 
TABLE 139 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/ 
SERVICES OFFERED 182 
TABLE 140 MITSUBISHI ELECTRIC CORPORATION: DEALS 183 
13.1.7 EMERSON ELECTRIC CO. 184 
TABLE 141 EMERSON ELECTRIC CO.: COMPANY OVERVIEW 184 
FIGURE 55 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT 185 
TABLE 142 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 185 
13.1.8 KONČAR – ELECTRICAL ENGINEERING INSTITUTE LTD. 186 
TABLE 143 KONČAR – ELECTRICAL ENGINEERING INSTITUTE LTD.: COMPANY OVERVIEW 186 
TABLE 144 KONČAR – ELECTRICAL ENGINEERING INSTITUTE LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 186 
13.1.9 PT. TIARA VIBRASINDO PRATAMA 187 
TABLE 145 PT. TIARA VIBRASINDO PRATAMA: COMPANY OVERVIEW 187 
TABLE 146 PT. TIARA VIBRASINDO PRATAMA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 187 
13.1.10 SENSEOR – WIKA GROUP 188 
TABLE 147 SENSEOR – WIKA GROUP: COMPANY OVERVIEW 188 
TABLE 148 SENSEOR – WIKA GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 188 
13.1.11 ALTANOVA GROUP 189 
TABLE 149 ALTANOVA GROUP: COMPANY OVERVIEW 189 
TABLE 150 ALTANOVA GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 190 
13.1.12 DYNAMIC RATINGS 191 
TABLE 151 DYNAMIC RATINGS: COMPANY OVERVIEW 191 
TABLE 152 DYNAMIC RATINGS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192 
13.1.13 OSENSA INNOVATIONS 193 
TABLE 153 OSENSA INNOVATIONS: COMPANY OVERVIEW 193 
TABLE 154 OSENSA INNOVATIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 193 
13.1.14 MEGGER 194 
TABLE 155 MEGGER: COMPANY OVERVIEW 194 
TABLE 156 MEGGER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 194 
13.1.15 IPEC LTD. 196 
TABLE 157 IPEC LTD.: COMPANY OVERVIEW 196 
TABLE 158 IPEC LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196 
  
13.2 OTHER PLAYERS 197 
13.2.1 MONITRA LTD. 197 
13.2.2 RUGGED MONITORING 197 
13.2.3 PDS 198 
13.2.4 DOBLE ENGINEERING COMPANY 198 
13.2.5 NUVENTURA GMBH 199 
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies. 
14 APPENDIX 200 
14.1 INSIGHTS FROM INDUSTRY EXPERTS 200 
14.2 DISCUSSION GUIDE 201 
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 205 
14.4 CUSTOMIZATION OPTIONS 207 
14.5 RELATED REPORTS 207 
14.6 AUTHOR DETAILS 208 
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