Chicago, IL -- (SBWIRE) -- 06/29/2017 -- According to the report, "Transformer Monitoring System Market, By Service (Bushing Monitoring, Oil or Gas Monitoring, Others), Type (IT Solution, Hardware Solution), Application (Power Transformer, Distribution Transformers, Others) – Global Revenue, Trends, Growth, Share, Size, and Forecast To 2022", the market for transformer monitoring system is expected to grow at an impressive rate, due to the increased prevalence of diseases and the rising demand from around the world.

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Transformer Monitoring System integrates sensor data, data management and analytics to turn raw data into useful information and to take timely appropriate action. These systems help to diagnose unplanned failures with low maintenance cost and improve the overall life of Transformer. It effectively helps to identify any anomalies and can reject any false diagnosis by using advanced analytics. Transformer Monitoring System is an important step to achieve, overall smart power grid asset management strategy.

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KEY PREMIUM INDUSTRY INSIGHTS

1. The key reasons driving the growth of the Transformer Monitoring System market includes rising demand for energy and increasing consumption of energy in developing economies due to rapid industrialization and positive initiatives like smart grids which ultimately has led to infrastructure development and demand for Transformer Monitoring System.

2. Demand from offshore wind farms is one of the key growth opportunity drivers for this market.

3. However, factors like high capital cost may hamper the growth of the Transformer Monitoring System Market.

MARKET SEGMENTATION

This report analyzes the transformer monitoring system market by the following segments:

Transformer Monitoring System Market, by Service
1. Bushing Monitoring
2. Oil or Gas Monitoring
Transformer Monitoring System Market, by Type
1. IT Solution
2. Hardware Solution
Transformer Monitoring System Market, by Application
1. Power Transformer
2. Distribution Transformers

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