Switchgear Monitoring System Market Report 2026

The switchgear monitoring system market size has grown strongly in recent years. It will grow from $1.66 billion in 2025 to $1.79 billion in 2026 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing automation in power distribution networks, rising demand for reliable switchgear operations, early adoption of temperature and gas monitoring technologies, growth in industrial power consumption, advancements in protection and control systems.

The switchgear monitoring system market size is expected to see strong growth in the next few years. It will grow to $2.44 billion in 2030 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to growing shift toward digital substations, rising adoption of real time monitoring solutions, expansion of smart grid infrastructure, increasing focus on operational safety and efficiency, advancements in analytics driven asset management technologies. Major trends in the forecast period include rising integration of AI based predictive maintenance solutions, increasing adoption of iot enabled switchgear monitoring platforms, growing deployment of cloud connected analytics for power distribution, advancements in intelligent manufacturing for monitoring hardware, rising shift toward sustainable and energy efficient monitoring systems.

The growth in electricity demand is expected to drive the expansion of the switchgear monitoring system market. Electricity demand refers to the amount of electricity consumed by a country, region, or sector over a specific period. Switchgear monitoring systems are used to assess the condition of switchgear assets such as transformers and substations. As electricity demand increases, the use of switchgear also rises, and monitoring systems help ensure the reliability and proper functioning of these critical assets. For example, in 2024, according to Ember-Energy.org, a UK-based independent global energy think tank, data center electricity demand - estimated at 176 TWh in 2023 - is projected to grow by 8-55 TWh in 2024, representing an increase of 5%-31%. Therefore, the growth in electricity demand is fueling the development of the switchgear monitoring system market.

Major players in the switchgear monitoring system market are focusing on the development of innovative solutions, such as medium voltage (MV) switchgear monitoring systems, to enhance reliability, optimize performance, and reduce maintenance costs. MV switchgear monitoring systems are used to track the performance and condition of switchgear within electrical networks. These systems monitor key parameters like temperature, current, and voltage to ensure safe and efficient operation, as well as enable predictive maintenance. For example, in February 2024, Schneider Electric SE, a France-based company, introduced the SureSeT Medium Voltage (MV) switchgear. Schneider Electric's SureSeT MV switchgear features a compact design that reduces the CO2 footprint by 25% and integrates digital operations for real-time monitoring, predictive maintenance, and improved operational efficiency. The solution is optimized to save space and enhance uptime through advanced condition monitoring and remote access.

In May 2024, Eaton Corporation plc, an Ireland-based manufacturing company, acquired Exertherm Inc. for an undisclosed amount. The acquisition aims to bolster Eaton's position in continuous thermal monitoring, improving the safety and reliability of critical electrical equipment. It also aims to integrate Exertherm’s advanced solutions into Eaton's Brightlayer software suites, driving operational optimization and better business performance. Exertherm Inc. is a US-based manufacturing company specializing in switchgear monitoring systems.

Major companies operating in the switchgear monitoring system market are Hitachi Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Seimens AG, ABB Ltd., Eaton Corporation plc, Emerson Electric Co., Fuji Electric Co.Ltd., OMICRON electronics GmbH, GE Grid Solutions, LSIS Co. Ltd., KONCAR- Electrical Engineering Institute Inc., Megger Group Limited, Qualitrol Company LLC, Guangzhou Haozhi Industrial Co. Ltd., Industrial Electric Mfg. (IEM), Doble Engineering Company Pvt. Ltd., Lumel S.A, ALTANOVA Group, Donwil Company, IPEC Ltd., High Voltage Partial Discharge Ltd., Diagnostic Service Co. Limited (PDS), Nuventura Pvt. Ltd., SENSeOR SAS, PT. Tiara Vibrasindo Pratama, Dynamic Ratings Inc., Prism Power Group, OSENSA Innovations Corp., Rugged Monitoring.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on electronic components, sensors, controllers and communication modules have increased production and procurement costs for switchgear monitoring systems, affecting manufacturers across utilities, industrial and commercial sectors. Regions dependent on imported hardware from East Asia, particularly North America and Europe, face higher cost burdens and slower deployment cycles. However, tariffs are also encouraging domestic component manufacturing, system integration and local R&D initiatives, resulting in selective long term opportunities for regional suppliers and technology developers.

The switchgear monitoring systems market research report is one of a series of new reports that provides switchgear monitoring systems market statistics, including switchgear monitoring systems industry global market size, regional shares, competitors with switchgear monitoring systems market share, detailed switchgear monitoring systems market segments, market trends and opportunities and any further data you may need to thrive in the switchgear monitoring systems industry. This switchgear monitoring systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A switchgear monitoring system is a technology-driven solution created to oversee, control, and optimize the performance of electrical switchgear equipment within power distribution systems. Its purpose is to enhance the management, safety, and overall performance of electrical switchgear equipment in power distribution systems.

Switchgear monitoring systems consist of three primary components such as hardware, software, and services. Hardware refers to the physical elements of an electrical system required for its operation or for executing specific functions. The hardware elements utilized in switchgear monitoring systems encompass components such as fuses, relays, circuit breakers, potential and current transformers, isolators, indicating devices, and lightning arresters. These systems employ various monitoring techniques, including temperature monitoring, partial discharge monitoring, and gas monitoring, among others, to oversee switchgear equipment at high, medium, and low voltage levels. These monitoring systems find extensive applications in utilities, industries, commercial settings, and other relevant sectors.Asia-Pacific was the largest region in the switchgear monitoring system market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the switchgear monitoring system market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the switchgear monitoring system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The switchgear monitoring system market consists of revenues earned by entities by providing services such as system integration, customization, predictive maintenance, sensor deployment, diagnostics and troubleshooting and software upgrades. The market value includes the value of related goods sold by the service provider or included within the service offering. The switchgear monitoring system also includes sales of communication devices, data processing units, remote control and automation tools, power management equipment, online switchgear monitoring solutions and switchgear temperature monitoring solutions. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.