Global Transformer Monitoring System Market Overview:
Transformer Monitoring System Market is expected to grow at a CAGR of 11.81% till 2030.
Transformer monitoring system solutions are integrated by power and utility companies to manage the health of transformers remotely. They will be implemented in smart cities and countries looking to implement smart solutions for controlling energy consumption. MRFR’s report on the transformer monitoring system market outlines drivers and opportunities for the forecast period (2022-2030). The sudden outbreak of the COVID-19 pandemic and its cascading effects on the industry are explored below.
COVID-19 Impact
The COVID-19 outbreak had weakened the market owing to hurdles in supply chains and production delays of transformers. Dependence on Chinese suppliers for components and lockdown restrictions can wear down manufacturers. The halt on new substation projects and lack of tax benefits can prove detrimental to the market. This will cause a dip in transformer monitoring systems as utility provider focus on retaining their revenues.
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CAGR
11.81 % CAGR (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Service , Type and Application
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Market Scope
Development of Power Sector to Drive Market Demand
Initiatives taken by governments and property builders for developing smart cities can drive market demand significantly. Use of efficient lighting and sustaining growth in countries can augur favorably for the market. Rapid urbanization and transformation of cities to smart cities can spur demand for transformer monitoring system solutions.
Huge need for infrastructure development and public safety can drive market demand. Moreover, adoption of internet of things (IoT), 5G, and analytics can create a bevy of opportunities in the coming years.
Digitization of Utilities to Amp up Market Growth
Smart homes can utilize transformer monitoring system solutions for controlling heating, electrical, cooling, and light appliances. They can increase comfort and usability while managing the ambience of rooms through a centralized remote. Moreover, it can enhance the security of homes by enabling floodlights and security illuminations at breach points. The COVID-19 pandemic has propelled the demand for smart lights by providing a safe space for work in homes and workstations.
High Costs of Smart Equipment to Hamper Market Growth
The huge initial costs of installation owing to added costs of installation and equipment can hamper the transformer monitoring system market growth. Use of expensive software, light sources, and control systems can deter potential clients. However, dipping prices of LEDs and energy savings of these lights can prove to be fruitful to the market in the coming years.
Segmentation Analysis
Software Solutions to Gain Market Share
By type, the market is segmented into software and hardware. Out of which, the LED segment is expected to grow at the highest rate during the forecast period. It is attributed to low installation costs, safe nature, and high returns on investments.
Power Transformers to be Leading Application
By application, it is divided into distribution transformers, power transformers, and others. The Wi-Fi segment is expected to be the leading wireless technology due to processing of smart signals made possible by collection of data by an ASIC. The coexistence of lighting systems with Wi-Fi gateways makes it optimal for powering the optical communications hub. Recently, Signify has expanded its product offerings by providing Bluetooth and ZigBee powered lights.
Regional Analysis
APAC to Lead Global Market
APAC is estimated to display a strong growth rate owing to adoption of connected lighting systems in smart offices and homes. Investments in smart grids and entry of private power providers in economies of India and China can drive market growth. Rise of government-driven infrastructural projects and development of residential homes can provide opportunities to players in the regional market. Undertaking of smart city projects and initiatives by governments to offer LED lights at subsidized prices can bode well for the market.
Competitive Analysis
ABB, Wilson Transformer Company, Advanced Energy Industries, Inc., KJ Dynatech Inc, Hiotron, Advanced Power Technologies, Eaton, Honeywell International, Inc., Qualitrol Company LLC, Schneider Electric, Mitsubishi Electric Corporation, Siemens, Dynamic Ratings, General Electric Company, and S&C Electric Company are prominent players of the global transformer monitoring system market. Commercialization of transformer monitors as well as digitization of installation of setup of substations are prime strategies of players.
Industry Update
mPrest has developed a transformer monitoring software suite for deployment and management of solutions for utility providers.
The global Transformer Monitoring System Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the transformer monitoring system market include ABB, Siemens AG, General Electric, Maschinenfabrik Reinhausen GmbH, and Groupe Cahors S.A.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Transformer Monitoring System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/transformer-monitoring-system-market/download-sampleMarket DynamicsSmart grid initiatives, digitalization of utilities and renewable investments are expected to be the biggest market drivers of the Transformer Monitoring System Market.
Moreover, the enhancement and capacity addition plans being undertaken by developing countries may also bring boom in the market.
However, low-quality TMS made available by local companies can be a huge restraint within the market as it provides stiff competition against major market players.
The latest trending report Global Transformer Monitoring System Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Transformer Monitoring System market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.This report also researches and evaluates the impact of Covid-19 outbreak on the Transformer Monitoring System industry, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Transformer Monitoring System and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/23577-transformer-monitoring-system-market-analysis-reportThe major players covered in Transformer Monitoring System are: GE Mitsubishi Doble Engineering Company ABB Schneider Electric Siemens Koncar Weidmann Eaton Qualitrol Schweitzer Engineering Laboratories LGOMBy Type, Transformer Monitoring System market has been segmented into DGA Devices Bushing Monitoring Partial Discharge (PD) OthersBy Application, Transformer Monitoring System has been segmented into: Power Transformers Distribution TransformersThe report offers in-depth assessment of the growth and other aspects of the Transformer Monitoring System market in important countries (regions), including: North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) South America (Brazil, Argentina, etc.
) Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Transformer Monitoring System Market @ https://www.decisiondatabases.com/contact/download-sample-23577The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Transformer Monitoring System product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Transformer Monitoring System, with price, sales, revenue and global market share of Transformer Monitoring System in 2018 and 2019.Chapter 3, the Transformer Monitoring System competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Transformer Monitoring System breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Transformer Monitoring System market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Transformer Monitoring System sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Transformer Monitoring System Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-23577All Transformer Related Reports by DecisionDatabases.com @ https://goo.gl/WTamgBAbout-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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