Global Transformer Monitoring Systems Market – Size, Outlook, Trends and Forecast (2024 – 2032)

will be growing at a CAGR of 11.7% to reach $2.89 Billion by 2025 from $1.54 Billion in 2019 during 2019-2025. Factors such as the rapid installation of power transformers, the rise in demand of energy generation from both renewable and non-renewable sources of energy, and increasing need for monitoring large and complex power networks are leading the market growth during the forecast period. Additionally, rising demand for the refurbishment of existing grid infrastructure, rising demand for retrofit installations, and rising electricity consumption and growing investments in smart grid infrastructure are also contributing to the market growth.

Despite these drivers, high investment cost for installation of transformer monitoring systems and high maintenance cost and less acceptance level among end users are major restraints hampering the growth of the market. Emerging green power transformers, expanding wind and solar energy sectors, the growth of big data analytics and offshore wind farms are creating major opportunities for the global transformer by utilities and