Market Scenario
Market Research Future (MRFR), in its latest report on the global Global Transformer Monitoring System Industry 2020, reveals that the expansion of the Global Transformer Monitoring System Industry can be at about 12.82% CAGR across the forecast period 2019 to 2025. MRFR data shows that the Global Transformer Monitoring System Industry can value at USD 7.91 Bn by 2025. , with a CAGR of 12.82% from 2019 to 2025.
Increase in investments in the field of renewable energy is identified as the chief factor to boost the expansion of the global Global Transformer Monitoring System Industry. The increase in the demand for electricity and about USD 138.2 billion investment in clean energy technologies can promote the expansion of the Global Transformer Monitoring System Industry. Governments across the globe are focused in developing effective renewable power generation technologies, which can boost the growth of the transformer monitoring system across the globe.
Segment Study
The segment study of the global Global Transformer Monitoring System Industry is based on types, service, and application.
The type based segments of the global Global Transformer Monitoring System Industry are software solutions and hardware solutions. The hardware solutions segment can lead the market, whereas software solutions segment is expected to generate high revenue across the same period.
The service based segments of the global Global Transformer Monitoring System Industry are bushing monitoring, oil/gas monitoring, and others. The bushing monitoring segment can surge at a higher growth rate across the forecast period.
The application based segments of the global Global Transformer Monitoring System Industry are power transformers, distribution transformers, and others. The power transformers segment can generate high traction, which can boost the expansion of the market across the study period.
Regional Study
In North America, the easy of availability of effective components of transformer monitoring system can boost the expansion of the regional transformer monitoring system in the years to come. The pressing demand for affordable clean energy solution and services is likely to boost the expansion of North America Global Transformer Monitoring System Industry in the years to come. The availability of components which has solid temperature, voltage, current, and possibly the phase angle of a ground transformer solutions that offer high functionality is expected to promote the expansion of the regional market through the evaluation period. In Europe, the presence of effective solution to meet system failure in case of power cut and growing adoption of transformer monitoring system is likely to boost the expansion of the Global Transformer Monitoring System Market Size across the evaluation period. The rise in battery backup solution can also boost the expansion of EU Global Transformer Monitoring System Industry. In the APAC region, the increase in deployment of transformer monitoring systems as a result of rise in the number of power grid networks installations can support the expansion of the market in the years to come. The rapid installation of the power transformer across developing regions of APAC can spur the expansion of the Global Transformer Monitoring System Industry through the review period. The rise in transformer monitoring systems in chemical plant industries, switching power supplies, mining, and radio circuits can boost the expansion of the regional market across the evaluation period.
Key Players
Echelon Corporation (US), Siemens AG (Germany), General Electric Company (US), ABB Automation Company Ltd. (Switzerland), Schneider Electric SE (France), BPL Global LLC (US), Advanced Power AG (Switzerland), Dynamic Rating Pvt. Ltd (US), Crompton Greaves Ltd (India), and Elster Group SE (Germany) are some reputed companies that are operating in the worldwide market of transformer monitoring system, as listed by MRFR.
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