Transformers are defined as the electrical equipments that are helpful in fluctuating the voltage of the electric current. Market Research Future (MRFR) has published a research report about the global transformer monitoring system market that predicts growth for this market at during the forecast period that would end in 2022.

The most crucial factors driving the global transformer monitoring system market growth include the rapid installation of power transformers and increased demand for energy generation from both renewable and non-renewable sources of energy. Other factors contributing to the market growth include growing demand for power and cost-effective power distribution via transformers. However, factors that can impede the market growth include high investment cost for installation and high maintenance cost in order to ensure smooth functioning as well as real-time monitoring of transformer monitoring systems.

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Industry Segmentation

The global transformer monitoring system market has been segmented on the basis of application, service, type, and lastly, region. The application-based segmentation segments this market into distribution transformers, power transformers and others. Also known as service transformer, a distribution transformer provides the final voltage transformation in the electric power distribution system. It reduces the voltage used in the distribution lines to the level used by the customer.

Based on service, the market has been segmented into bushing monitoring, oil/gas monitoring, and others. By type, the market has been segmented into hardware solutions and software solutions.

Key Players

The key players in the global transformer monitoring system market include ABB automation company Ltd. (Switzerland), Advanced Power AG (Switzerland), BPL Global LLC (USA), Crompton Greaves Ltd. (India), Dynamic Ratings Pvt. Ltd. (USA), Eaton Corporation Plc. (Republic of Ireland), Echelon Corporation (USA), Elster Group SE (Germany), General Electric Company (USA), Hyosung Corporation (South Korea), Schneider Electric S.E. (France), and Siemens AG (Germany).

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Regional Outlook

The regional segmentation of the global transformer monitoring system market segments the market into the regional markets known as North America, Asia Pacific, Europe, and the Middle East & Africa (MEA). During the forecast period, the Asia Pacific region has been anticipated to be the largest regional market due to the planned investments for the increased power capacity utilization required in this region. Countries like India and China are investing a lot in smart grids, boosting the demand for transformer monitoring solutions. Other factors contributing to the market growth in this region include rapid urbanization, growing industrialization, and rise in demand for power. Another pivotal country-specific market in this region is heavily industrialized Japan, followed by the remaining countries of the Asia Pacific region.

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