Transformer monitoring systems collect, and process data related to various parameters of transformers to predict and prevent the failure of a transformer. These systems have applications in power transformers and distribution transformers.
The rapid digitalization of power utilities is likely to drive the growth of the market during the forecast period. Electricity plays an important role in shaping today’s world and quality of life. It drives overall economic development and social evolution. The power utilities work extensively to provide non-stop electricity to every part of the world. However, to improve the efficiency of the overall power ecosystem, enhance grid reliability, ensure access to real-time information, and increase energy saving through operational efficiency, digital transformation is needed. Most utilities globally are moving toward digitalization with smart meters and advanced metering infrastructure that allows collection of real-time usage data from customers, along with provision for control functions, including time-based rates and demand response. For instance, CenterPoint Energy (US) installed an advanced metering system, SCADA mobile data platform, and a customer vision platform to strengthen the connection between the company and its customers. Similarly, General Electric (US) launched a smart grid test program to demonstrate the potential of integrating digitally equipped devices owned by customers with General Electric’s smart grid for customer energy programs.
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Competitive Outlook:
The key market players operating in the global market as identified by MRFR are SolarWinds (US), ConnectWise Automate (US), Monitis.com (US), NinjaRMM (US), Continuum Managed Services (US), CA Technologies (US), Kaseya (Ireland), Oracle Corporation (US), Ipswitch (US), Red Gate Software Ltd (UK), Paessler AG (Germany), New Relic, Inc. (US), Microsoft Corporation (US), Nagios Enterprises, LLC (US), and Site24x7 (US). The major strategies implemented by most of the players are agreements, partnerships, and collaborations.
Segmentation:
The global system monitoring market has been analyzed based on component, organization size, deployment type, vertical, and region/country.
Based on the component, the global system monitoring market has been bifurcated into solution and services. The solution segment has been classified as network monitoring, application monitoring, server monitoring, cloud monitoring, and others. The services segment has further bee divided into professional services and managed services.
Based on the deployment type, the global system monitoring market has been bifurcated into cloud and on-premise.
Based on the organization size, the global system monitoring market has been bifurcated into small- and medium-sized enterprise (SME) and large enterprise.
Based on the vertical, the global system monitoring market has been divided into IT & telecom, banking, financial services and insurance, government, energy and utilities, manufacturing, healthcare, and others.
Regional Analysis:
The global business regional analysis was conducted in four major regions including Asia Pacific North America, Europe and the rest of the world.
North America has the largest market share as the corporations in this area have been world leader in technology advancement. Because of the rapid implementation of digital transformation, the US leads the market in North America; as a result, the country's need for accountable and compliance-based program use is rapid.
Owing to the strong demand for better optimisation of business operations between companies across verticals and managed service providers, Europe is projected to be the second-largest market during the review period.
During the forecast period Asia-Pacific is projected to be the fastest-growing region on the global device monitoring region. Growth in outsourced IT infrastructure management is key driver of Asia-Pacific market growth.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued….
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