Transformer Monitoring System Market Size, Growth Analysis, Future Demand and Leading Players Updates by Forecast to 2020-2027

Global Transformer Monitoring System Market 2020-2027 in-depth study accumulated to supply latest insights concerning acute options. The report contains different predictions associated with Transformer Monitoring System size, revenue, production, CAGR, consumption, profit margin, price, and different substantial factors. Whereas accentuation the key drives and Transformer Monitoring System restraining forces for this market, the report offers trends and developments. It additionally examines the role of the leading Transformer Monitoring System players concerned within the business together with their company summary, monetary outline and SWOT analysis. With COVID-19 Impact and Global Analysis available at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00008332/

The transformer monitoring system market was valued at US$ 1,842.54 million in 2019 and is projected to reach US$ 2,806.19 million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.

  • In Feb 2020, Power management company Eaton declared it has completed the acquisition of Power Distribution, Inc. (PDI). Eaton’s aim is to enhance the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably.
  • In April 2019, ABB new field-tested model-based monitoring system is combined within standard substation equipment and presented in MicroSCADA Pro. This unique approach permits an asset’s performance to be evaluated while in actual service as well as imminent faults to be detected.

MARKET PLAYERS

The report also includes the profiles of key Transformer Monitoring System market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

Some of the key Players Analysis in Transformer Monitoring System:

  • ABB Ltd.
  • Eaton Corporation plc
  • Honeywell International Inc.
  • Schneider Electric SE
  • Siemens AG
  • Schweitzer Engineering Laboratories, Inc.
  • Kirloskar Electric Company
  • KJ Dynatech Inc
  • WILSON TRANSFORMER COMPANY
  • Mitsubishi Electric Corporation
  • Dynamic Ratings

The smart grid, along with the operations of a power system, is expected to play a significant role in transforming the electrical networks. Smart grids make it easier to quickly restore electricity after power disturbances, and help reduce the management and operating costs of utilities; this ultimately reduces power costs for consumers. Various initiatives taken by the energy sector is also driving the growth of the transformer monitoring system market. For example, in collaboration with the electric utility industry, equipment suppliers, IT operators, federal and state governments, advocacy organizations, colleges, and national laboratories, the US electrical system announced its “Grid 2030” vision. This vision covers the following power sector-related aspects: generation, transmission, delivery, storage, and end-use. It describes the fundamental problems and obstacles in grid modernization, followed by making recommendations to policymakers and industries to help them develop future electrical distribution infrastructure, such as utility communications.

Impact of COVID-19 Pandemic on Transformer Monitoring System Market

The US has the highest number of confirmed cases of COVID-19 morbidity among all the North American countries. This is likely to adversely affect the information and communication technology (ICT) sector due to disruptions in supply chain. The energy sector in countries in this region are likely to focus on the development of coordination between the natural gas and telecommunications industries as well as supply chain issues to better tackle grid threats.

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Emergence of Big Data Analytics

In the age of growing industrialization and rapidly changing industrial working environment, automation, big data analytics, and the Internet of Things play a critical role. Planning downtime and physically monitoring different transformer parameters now appears first age work for power distribution companies. Monitoring different standard parameters from IT cell/office comfort has now become a new norm. Big data analytics in power systems are of interest in the fields of data acquisition, storage, analysis, and visualization. However, the characterization of the state of the transmission equipment is given little care. Power transformers face many difficulties in detecting anomalies and diagnosing faults. The functional relationships between different status parameters and patterns of the defect are complicated to describe the functions explicitly. Utilities across the globe are, however, striving to safely and efficiently deliver reliable electricity.

Every critical equipment asset from generation to delivery is operating at the optimum level to meet and exceed the set goals. With the help of big data, transformers can efficiently change transmission voltages down to lower distribution voltages. Thus, the emergence of big data analytics in the transformer monitoring system market is one of the major trends likely to impact market growth during the forecast period.

The report analyzes factors affecting Transformer Monitoring System market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Transformer Monitoring System market in these regions.

Predominant Questions Answered in This Report Are:

  • Which segments will perform well in the Transformer Monitoring System over the forecasted years?
  • In which markets companies should authorize their presence?
  • What are the forecasted growth rates for the market?
  • What are the long-lasting defects of the industry?
  • How share market changes their values by different manufacturing brands?
  • What are the qualities and shortcomings of the key players?
  • What are the major end results and effects of the five strengths study of industry?

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Table of content

  1. Introduction
  2. Key takeaways
  3. Research methodology
  4. Transformer Monitoring System market landscape
  5. Transformer Monitoring System market – key market dynamics
  6. Transformer Monitoring System market – global market analysis
  7. Transformer Monitoring System market – revenue and forecasts to 2027 – component
  8. Transformer Monitoring System market – revenue and forecasts to 2027 – end-user
  9. Transformer Monitoring System market revenue and forecasts to 2027 – geographical analysis
  10. Industry landscape
  11. Transformer Monitoring System market, key company profiles
  12. Appendix

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