Asia-Pacific Switchgear Monitoring System Market Report 2023-2024 & 2033: Rising Demand for Electricity, and Integration of Digital Technologies and Internet of Things (IoT) Propel Growth

Dublin, Dec. 18, 2024 (GLOBE NEWSWIRE) — The “Asia-Pacific Switchgear Monitoring System Market: Focus on Product, Application, and Country – Analysis and Forecast, 2023-2033” report has been added to ResearchAndMarkets.com’s offering.

The Asia-Pacific switchgear monitoring system market was valued at $474.3 million in 2023 and is expected to reach $1.16 billion by 2033, with a CAGR of 9.36% during the forecast period 2023-2033

Switchgear monitoring systems are seeing rapid expansion in the European market, fueled by important characteristics that encourage their implementation in a variety of industries. A primary driver is the increasing need for reliable and efficient power distribution solutions, as companies modernize and expand. Modern switchgear monitoring systems are essential for ensuring constant power, keeping an eye on the condition of the machinery, and averting future breakdowns.

The demand for these systems is further increased by the region’s emphasis on smart grid infrastructure and the incorporation of IoT technology into power networks. Modern technological advancements like real-time data analytics and sophisticated sensors improve monitoring capabilities, allowing for predictive maintenance and reducing downtime. Furthermore, the increased focus on sustainability and energy efficiency in Europe is promoting investments in monitoring systems that maximize energy use, minimize losses, and support greener operations.

APAC governments are also investing in smart grid infrastructure, which is propelling the use of switchgear monitoring systems that incorporate cutting-edge technology like artificial intelligence (AI) and the Internet of Things (IoT). By enabling predictive maintenance and real-time monitoring, these systems save downtime and improve operational effectiveness. Leading nations in the modernization of their electricity distribution networks include China, India, Japan, and South Korea.

Additionally, because these systems optimize power utilization and minimize energy losses, the emphasis on sustainability and energy efficiency is increasing demand for them. Industries are spending more money on monitoring systems to comply with eco-friendly practices as a result of tighter restrictions and growing environmental concerns. All things considered, the APAC switchgear monitoring system market is expected to expand due to the region’s technological advances and ongoing energy transition.

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different switchgear monitoring systems. Moreover, the study provides the reader with a detailed understanding of the APAC switchgear monitoring system market based on the end user (utilities, industrial, commercial, and others). Furthermore, there is a growing demand for reliable and cost-effective switchgear monitoring systems. Manufacturers can seize opportunities to design and produce next-generation switchgear equipped with advanced monitoring and diagnostic features.

Competitive Strategy: Key players in the APAC switchgear monitoring system market analyzed and profiled in the study involve switchgear monitoring system manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the APAC switchgear monitoring system market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

• Hitachi Limited
• Toshiba Corporation
• HD Hyundai Electric Co., Ltd.
• Fuji Electric Co., Ltd.

Key Attributes:

Key Topics Covered:

Executive Summary

Scope and Definition

1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Trends Shaping Switchgear Monitoring System Market
1.1.2 Rising Demand for Electricity
1.1.3 Integration of Digital Technologies and Internet of Things (IoT)
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.2 Market Map
1.2.2.1 Switchgear Monitoring System Market – Product (by Type)
1.2.2.1.1 Air-Insulated Switchgear
1.2.2.1.2 Gas-Insulated Switchgear
1.2.3 Pricing Forecast
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Country and Company)
1.4 Stakeholder Analysis
1.4.1 Use Case
1.4.2 End User and Buying Criteria
1.4.2.1 Utility Companies
1.4.2.2 Industrial Facilities
1.4.2.3 Commercial Buildings
1.5 Impact Analysis for Key Global Events
1.5.1 COVID-19 Pandemic
1.5.2 Russia-Ukraine Conflict
1.5.3 Middle East Crises
1.6 Market Dynamics Overview
1.6.1 Market Drivers
1.6.1.1 Aging Electrical Infrastructure
1.6.1.2 Advancements in IoT and Sensor Technology
1.6.2 Market Restraints
1.6.2.1 High Implementation Costs and Complex Data Management
1.6.3 Market Opportunities
1.6.3.1 Renewable Energy Integration

2 Regions
2.1 Regional Summary
2.2 Asia-Pacific
2.2.1 Key Market Participants in Asia-Pacific
2.2.2 Business Drivers
2.2.3 Business Challenges
2.2.4 Application
2.2.5 Product
2.2.6 China
2.2.7 Application
2.2.8 Product
2.2.9 India
2.2.10 Application
2.2.11 Product
2.2.12 Japan
2.2.13 Application
2.2.14 Product
2.2.15 South Korea
2.2.16 Application
2.2.17 Product
2.2.18 Rest-of-Asia-Pacific
2.2.19 Application
2.2.20 Product

3 Markets – Competitive Benchmarking & Company Profiles
3.1 Competitive Landscape
3.2 Company Profile
3.2.1 Toshiba Corporation
3.2.1.1 Overview
3.2.1.2 Top Products/Product Portfolio
3.2.1.3 Top Competitors
3.2.1.4 Target Customers/End-Use Industries
3.2.1.5 Key Personnel
3.2.1.6 Analyst View
3.2.1.7 Market Share, 2022
3.2.2 Hitachi, Ltd.
3.2.2.1 Overview
3.2.2.2 Top Products/Product Portfolio
3.2.2.3 Top Competitors
3.2.2.4 Target Customers/End-Use Industries
3.2.2.5 Key Personnel
3.2.2.6 Analyst View
3.2.2.7 Market Share, 2022
3.2.3 HD Hyundai Electric Co., Ltd.
3.2.3.1 Overview
3.2.3.2 Top Products/Product Portfolio
3.2.3.3 Top Competitors
3.2.3.4 Target Customers/End-Use Industries
3.2.3.5 Key Personnel
3.2.3.6 Analyst View
3.2.3.7 Market Share, 2022
3.2.4 Fuji Electric Co., Ltd.
3.2.4.1 Overview
3.2.4.2 Top Products/Product Portfolio
3.2.4.3 Top Competitors
3.2.4.4 Target Customers/End-Use Industries
3.2.4.5 Key Personnel
3.2.4.6 Analyst View
3.2.4.7 Market Share, 2022
3.2.5 Havells India Ltd.
3.2.5.1 Overview
3.2.5.2 Top Products/Product Portfolio
3.2.5.3 Top Competitors
3.2.5.4 Target Customers/End-Use Industries
3.2.5.5 Key Personnel
3.2.5.6 Analyst View
3.2.5.7 Market Share, 2022
3.3 Other Key Market Participants
3.4 Growth Opportunities and Recommendations

4 Research Methodology

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• Asia-Pacific Switchgear Monitoring System Market