Smart Cable Guard Systems Market

Smart Cable Guard Systems Market Segmentation by Component (Sensor Injector Unit, Control Unit, Software); and by Application (HealthCare, Electric Power, Telecommunications, Small Industries and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029

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Report ID: 2927 | Published On: Feb 01, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


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Smart Cable Guard Systems Market Highlights 2021-2029

The smart cable guard systems market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. 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 Systems 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 systems 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 Systems 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 Systems Market

The global smart cable guard systems 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 systems market includes the following segments:

By Component

  • Sensor Injector Unit
  • Control Unit
  • Software

By Application

  • Healthcare
  • Electric Power
  • Telecommunications
  • Small Industries
  • Others


Smart Cable Guard Systems Market
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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


Smart Cable Guard Systems Market
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Top Featured Companies Dominating the Market

    • DNV GL AS
      • 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

Key Questions Answered in the Report

1) What are the major factors driving the growth of the smart cable guard system market?

Ans: Aging electrical network systems and increasing need for reliable fault detection systems are the key factors driving market growth.

2) What would be the CAGR of smart cable guard system market over the forecast period?

Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2020-2029.

3) What are the challenges affecting the smart cable guard system market growth?

Ans: High installation cost of smart cable guard systems and rectification concerning voltages are estimated to hamper market growth.

4) Which region will provide more business opportunities for growth of smart cable guard system market in future?

Ans: The market in Europe region will provide ample growth opportunities owing to the increasing government initiatives to promote smart solutions in the region.

5) Who are the major players dominating the smart cable guard system market?

Ans: The major players dominating the smart cable guard system market are DNV GL AS, Enexis Netbeheer, Essar Electricals, BAUR GmbH among others.

6) How are the company profiles selected?

Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the smart cable guard system market?

Ans: The market is segmented by component, application and region.

8) Which segment under the application segment captures the largest market size in the smart cable guard system market?

Ans: With respect to application, the electric power segment is anticipated to hold the largest market share owing to the need for reliable power detection systems to prevent outages and partial discharges of electrical systems.

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