Smart Ring Main Unit Market Size

Smart Ring Main Unit Marketsize was over USD 2.56 billion in 2024 and is projected to reach USD 6.09 billion by 2037, growing at around 6.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of night vision surveillance camera is evaluated at USD 2.7 billion. The growth of the market can be attributed to the increasing amalgamation of automation with electronic devices and systems, which has increased the prominence of electricity. The ring main unit is a vital part at the substation level, which is why, increasing the adoption of substation automation, is certain to boost the adoption of smart RMU. Furthermore, growing industrialization, and growing emphasis on renewable energy installations, are some major factors that are estimated to drive the growth of the global smart ring main unit market over the forecast period.  According to the data from International Energy Agency (IEA), electricity generation from renewables including hydropower, wind, and solar PV grew strongly around the world by 8% in 2021.

In addition to these, factors that are believed to fuel the market growth of smart ring main units include the increasing electricity demand, and the rising government investment in electricity generation projects is also estimated to play a crucial role in the market growth. For instance, in the fiscal year, 2022, the Indian government invested around USD 14 billion in Indian renewable energy generation.