#IoT

The global paralleling switchgear market is projected to reach $2.8 B by 2032, growing at a CAGR of 7.5 % during the forecast period.

The smart energy market is projected to soar to $253.1 billion by 2027, doubling in size from 2019.

Honeywell and Verizon integrate 5G into smart meters, enhancing remote energy management, improving grid reliability, and enabling real-time operational insights.

The integration of Internet of Things (IoT) technology into power grids is revolutionising how electricity is managed.

With the proliferation of smart meters, IoT devices, and advanced grid technologies, utilities are generating more data than ever before.

The grid is undergoing a significant transformation, driven by the need for greater resilience and reliability.

The evolution of circuit breakers has been driven by technological advancements and environmental concerns.

As the energy transition accelerates, utilities and cities face numerous challenges in managing energy and water.

With its numerous applications, IoT has made renewable energy a more viable option.

AI-Based Electrical Switchgear Market Innovations Investigated by Growth, Industry Latest Trends, Size, Key Drivers, Top Players And Forecast To 2033

Smart sensors, communication technologies, and advanced software help control the grid.