Transformer Monitoring System Market worth 2.68 Billion USD by 2021
The global transformer monitoring system market is projected to grow at a CAGR of 12.77% from 2016 to 2021, to reach a market size of USD 2.68 Billion by 2021. This growth is attributed to the digitalization of utilities, renewable investments, and smart grid initiatives. The report segments the transformer monitoring system market based on type into hardware solutions and IT solutions. The hardware solutions segment is expected to dominate the transformer monitoring system market during the forecast period. On the hand, the IT solutions segment is expected to witness the fastest growth during the same period.
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