Transformer Monitoring Market Scope,
Demands, Technological Development
and Competitive Insights to 2022
“Growing demand for electricity across the world is
expected to be the major driving factor for the
market growth. Transformer monitoring is carried
out to diagnose and monitor the efficiency of the
device. Monitoring and controlling these devices
helps the end users to identify and detect failures in
these devices thus saving additional costs including
repairing and replacement cost. ”
The Global Transformer Monitoring Market is expected to grow at a CAGR of 45 percent from 2016 to 2024. Growing
demand for electricity across the world is expected to be the major driving factor for the market growth. Transformer
monitoring is carried out to diagnose and monitor the efficiency of the device. Monitoring and controlling these
devices helps the end users to identify and detect failures in these devices thus saving additional costs including
repairing and replacement cost. Emerging economies are expected to witness high demand for owing to increasing
consumption of electricity. The increasing incidences of electricity and power outages are expected to propel the
market demand for transformer monitoring systems over the forecast period. Increasing Manufacturing industries
require constant power supply to their facilities in order to carry out their production processes effectively.
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