USA: Reportstack announced the publication of the research report - Global Transformer Monitoring Solutions Market 2014-2018.
ABB Ltd., Alstom SA, GE Co., Schneider Electric SA, and Siemens AG are mentioned as the key players in Global Transformer Monitoring Solutions Market. “In order to sustain and compete in the overall market, vendors are increasingly developing new and advanced monitoring systems with enhanced functionalities.
Such smart monitoring systems include a DGA, a built-in simulator, and expert system software, which enable the monitoring process to be carried out more effectively and efficiently. Therefore, the development of next-generation transformer monitoring systems is expected to drive the growth of the market during the forecast period.”
According to the report, the main driver is increasing need for a continuous power supply. Large number of power stations or substations requiring the installation of step-up and step-down power transformers have been set up and they need continuous monitoring.
The report says the costly transformer monitoring systems pose major challenges in the market as they require a huge investment and end-users are reluctant to use them.
The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: The International