Switch board manufacturers are providing smart home products and home automation devices such as smart switches and switchboards. These smart switchboards are pre-configured and pre-programmed with the ability to integrally support remote monitoring, configuration and control of embedded intelligent devices. These devices can be connected to computers and smart devices to monitor the electricity usage and helps in optimum utilization of energy and reduce maintenance costs.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL SWITCHBOARD MARKET AT $121 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for a little more than half of the global market share.
According to The Business Research Company’s Consultant, Nitin Gianchandani, Ethernet connected switchboards are widely being used in household and commercial buildings to save energy and reduce maintenance costs. Switchboards can be connected to a computer through an Ethernet cable. Electricity use, system status and other data is transmitted to the computer through the Ethernet cable. Data obtained on the computer is analyzed by energy experts and suggestions to minimize energy consumption. For example, Enerlin’x system manufactured by Schneider is a smart panel that transmits energy consumption data to computer through Ethernet and Modbus interfaces.
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ABB Group was the largest competitor in the switchgear and switchboard apparatus manufacturing market in 2017, with revenues of $34 billion for the financial year 2017. The company’s growth strategy is to focus more on its higher growth segment which is the power systems division. The company is improving its customer focus by increasing its agility and speed. It is formulating 1000-days programs for successful implementation. All this is being done as a measure to reach the target revenue growth of 4 to 7% by 2020.
Switchboard consists of one or more panels with various switches and indicators used to direct electricity and operate circuits. Bus bars inside switchboards are flat strips of copper or aluminum used to carry large currents through the switchboards.
Switchboard Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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