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Smart Cable Guard System Market Segmentation by Component (Sensor Injector Unit, Control Unit, Software); and by Application (Health Care, Electric Power, Telecommunications, Small Industries and Others) – Global Demand Analysis and Opportunity Outlook 2020-2029

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Extensive insights into the Growth of Smart Cable Guard System Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Smart Cable Guard System Market Highlights 2020-2029

The smart cable guard system market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2020-2029. Aging electrical network systems and advanced amenities provided by the smart cable guard systems over conventional fault detection systems, along with the growing investments in the development of reliable maintenance solutions for electrical power systems are expected to fuel the progress of this market.  Faults and power outages affect the productivity and balance of small industries, firms and other assets which tend to affect economies all around the globe. According to the data collected World Data Bank, in 2019, it was estimated that the number of firms which experience electrical outages are 56.4% globally.

Smart Cable Guard System Market

The market is segmented based on component into sensor injector unit, control unit, software, out of which, the sensor injector unit segment is anticipated to grab the largest share by the end of 2021 on account better efficiency of signal processing and calibration. Moreover, control unit provide accurate calculations and generate alerts in order to prevent power outages and faults and it is widely being used as an adjuvant component alongside sensor injector unit, which is also projected to contribute to the growth of the segment during the forecast period.

On the basis of application, the electric power segment in the global smart cable guard system market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that it helps with the quick maintenance and provides alerts as it assists the grid operator to act proactively in case of faults and reduces the operating cost of the distribution system.

Smart Cable Guard System Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Europe is predicted to grow at the highest CAGR over the forecast period owing to the increasing Government initiatives to adopt smart technologies including smart cable guard systems and the need to develop innovative power maintenance and alert solutions in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment of governmental and non-governmental agencies in smart electrical systems research, accompanied by the presence of leading electrical system providers in the region. Along with this, the North America also leads in terms of developing reliable fault detection systems, which is also expected to contribute to the market growth in the region. As per the analysis of U.S Energy Information Administration, in 2018, power outage durations for U.S. electricity customers averaged 5.8 hours per customer. CLICK TO DOWNLOAD SAMPLE REPORT

Smart Cable Guard System Market

The global smart cable guard market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global smart cable guard system market includes the following segments:

By Component

  • Sensor injector unit
  • Control unit
  • Software

By Application

  • Healthcare
  • Electric power
  • Telecommunications
  • Small industries
  • Others

Growth Drivers

  • Aging electrical network assets
  • Growing need for reliable systems to prevent partial discharges and faults
  • Cost effective maintenance solution

Challenges

  • Rectification concerning voltage levels
  • High installation cost of smart cable guard systems

Top Featured Companies Dominating the Market

  • DNV GLAS
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Alliander N.V.
  • Enexis Netbeheer
  • Essar Electricals
  • BAUR GmbH
  • Surgetek

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