AI-Based Electrical Switchgear Market Analysis

The AI-based electrical switchgear market is segmented on the basis of installation into indoor, and outdoor, out of which, the outdoor segment is anticipated to grab the largest share by the end of 2021, on account of the high rate of adoption of AI-based electrical switchgear in the transmission & sub-transmission sector. Moreover, there has been a significant growth of transmission & distribution utility sector in developing countries, which is also projected to contribute to the growth of the segment during the forecast period.

On the basis of end-user, the transmission & distribution utilities segment in the market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the increasing use of AI-based electrical switchgear in the transmission & distribution utilities for power generation, transmission, and distribution, on a global level.

Our in-depth analysis of the global market includes the following segments:

Installation	Indoor Outdoor
End-User	Transmission & Distribution Utilities Commercial Industrial Residential Other

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of AI-based electrical switchgear is assessed at USD 26.32 billion.

AI-Based Electrical Switchgear Market size was valued at USD 25.06 billion in 2023 and is expected to exceed USD 55.45 billion by 2036, expanding at over 6.3% CAGR during the forecast period i.e., between 2024-2036. The increasing adoption of smart grid technologies and the growing demand for AI-based power distribution and energy monitoring systems will fuel the market growth.

Asia Pacific is poised to hold largest revenue share by 2036, owing to growth of many smart cities in the countries of the region which require AI-based electrical switchgear infrastructure on roads and buildings on a large scale.

The major players in the market include ABB Ltd, Schneider Electric, Siemens AG, Lutron Electronics Company, and Mitsubishi Electric among others.

AI-Based Electrical Switchgear Market Analysis