Austin, Sept. 24, 2025 (GLOBE NEWSWIRE) -- The AI-based Electrical Switchgear Market size was valued at USD 25.9 billion in 2024 and is expected to reach USD 56.7 billion by 2032, growing at a CAGR of 10.29% during 2025-2032.
Enhancing capital for the modernization of obsolete infrastructure, coupled with the necessity for safety in high-voltage settings, is expected to drive market demand. Manufacturers are developing digital twin technology, remote diagnostics, and adaptive control features to achieve a competitive advantage. The rapid deployment of smart grids and digital substations is a significant growth driver for the AI-based electrical switchgear market. Governments are promoting energy efficiency and the digital transformation of power infrastructure. AI-based switchgear facilitates remote monitoring and dynamic responses to grid anomalies.
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AI-based Electrical Switchgear Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 25.9 Billion |
| Market Size by 2032 | USD 56.7 Billion |
| CAGR | CAGR of 10.29% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (Hardware, Software, Services), • By Type (Low Voltage, Medium Voltage, High Voltage), • By Installation (Indoor, Outdoor), • By End-User (Energy & Utilities, Industrial, Residential, Commercial, Transportation, Others) |
| Customization Scope | Available upon request |
| Pricing | Available upon request |
Segmentation Analysis:
Based on Component, Market was Dominated by the Hardware Segment in 2024
In 2024, the hardware segment led the AI-based electrical switchgear market, representing a substantial portion of revenue. The growth is propelled by the rising adoption of AI-driven intelligent sensors, circuit breakers, and smart relays. The software segment is projected to exhibit the highest compound annual growth rate during the forecast period, driven by the increasing adoption of AI analytics platforms and Digital Twin software.
By Business Model, B2B Segment Led the Market with Significant Share in 2024
In 2024, the B2B segment led the AI-based electrical switchgear market, contributing a substantial portion of the revenue. The growth is propelled by the widespread demand from utilities and modern energy foundation initiatives for smart power distribution systems. The D2C (Direct-to-Consumer) segment is projected to experience the highest CAGR during the forecast period, driven by the rising adoption of smart homes and the growing demand for energy-efficient and AI-enabled electrical solutions among consumers.
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By Enterprise Size, in 2024, the Market was Dominated by Large Enterprises Segment
In 2024, the large enterprises segment led the AI-based electrical switchgear market, capturing a substantial revenue share. This dominance is attributed to their extensive budgets, expansive infrastructure, and the inherent scale and complexity of energy management, positioning them as leaders in adoption. The Small and Medium Enterprises (SMEs) sector is projected to exhibit the highest compound annual growth rate (CAGR) during the forecast period, driven by the increasing accessibility of affordable modular AI-based switchgear systems.
By Application, the Automotive Segment Led the Market in 2024
In 2024, the automotive segment led the AI-based electrical switchgear market, capturing a substantial revenue share attributed to heightened vehicle electrification, automation in manufacturing plants, and a growing demand for energy-efficient power distribution. The healthcare sector is projected to experience the highest compound annual growth rate during the forecast period, driven by increasing investments in smart hospitals and continuous power supply systems.
In 2024, North America Led the Market; Asia Pacific is Expected to Grow with the Fastest CAGR in the Market Globally
In 2024, the North America region dominated the AI-based electrical switchgear market and accounted for a significant revenue share due to advanced power infrastructure, high adoption of smart grid technologies, and strong investments from utilities in AI-enabled predictive maintenance systems. The Asia Pacific region is expected to register the fastest CAGR during the forecast period, driven by expanding industrialization, large-scale electrification, and growing demand for grid automation in emerging economies like India and Southeast Asia.
Recent Developments:
In November 2024, Schneider Electric: Launched the Ringmaster AirSeT, a next-generation SF₆-free digital medium-voltage switchgear in the UK, featuring pure air insulation and AI-ready monitoring to support sustainable grid transformation and reduced operational costs.
In May 2025, Siemens: Introduced AI agents for its Industrial Copilot platform at Automate 2025, enabling autonomous execution of industrial workflows, marking a shift from traditional query-based support to fully intelligent automation in electrical and industrial systems.
Major Key Players:
- ABB
- Schneider Electric
- Siemens
- Mitsubishi Electric
- Eaton
- Hitachi Energy
- Toshiba
- Meidensha
- Crompton Greaves (CG Power)
- Fuji Electric
- General Electric
- Lutron Electronics
- Signify
- SwitchGear Company NV
- Lucy Electric
- Havells India
- Chint Group
- Powell Industries
- Rockwell Automation
- WEG S.A.
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Exclusive Sections of the Report (The USPs):
- Adoption & Deployment Metrics – helps you analyze deployment levels across industrial, commercial, and utility sectors, annual growth in installations, adoption by grid and data centers, and regional deployment patterns.
- Operational Performance & Reliability Metrics – helps you assess improvements in MTBF, fault detection accuracy, reduction in unplanned outages, latency in corrective responses, and gains in system uptime.
- Safety & Compliance Metrics – helps you evaluate adherence to IEC/IEEE standards, reduction in electrical fault incidents, frequency of AI-driven safety shutdowns, and presence of built-in risk alerts like arc detection and overload monitoring.
- Integration & Smart Grid Compatibility Metrics – helps you measure interoperability with SCADA, DMS, and IoT platforms, real-time data sharing, remote diagnostics, and modular upgrade potential of AI-enabled switchgear.
- Competitive Landscape – helps you benchmark leading manufacturers and solution providers based on market reach, product portfolios, technological innovations, and strategic partnerships in the AI-driven power infrastructure space.
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