Instrument Transformer Market to hit USD 7 Bn by 2030, Says Global Market Insights Inc.


Instrument Transformer Market size is anticipated to surpass over USD 7 billion by 2030, according to latest research study by Global Market Insights Inc.

The rising demand for effective T&D systems, increasing adoption of smart grid technologies, and favorable regulatory policies & reforms for renewable integration will favor the business dynamics. Ongoing investments in refurbishment and upgrade of energy networks will boost the product espousal. In addition, shifting focus on enhanced technologies coupled with rapidly mounting electricity consumption will augment the market landscape.

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The auto transformer market will witness a sheer turnaround owing to the elevated demand for smart technology-aided monitoring devices along with rising energy consumption across commercial & industrial peripherals. The capability of these units to offer effective voltage regulations and substantial cost savings is also expected to trigger growth. An increasing surge for electrification in the remote areas and escalating demand for the development of T&D infrastructure systems in both underdeveloped and developing economies are some of the prominent factors driving the industry growth.

Dry-type instrument transformers have gained appreciable proliferation in recent years due to their operational safety and competitive cost structure when compared to their available alternatives. However, products are yet to gain a sustainable market hold in high-voltage electrical applications, posing an immense industrial growth potential. Furthermore, the rapid acceptance of these units by utilities together with rigorous efficiency associated with research & development activities for product development will stimulate the industry dynamics.

The solid insulation instrument transformer market has gained a modest industry penetration credited to the significant competitive influence from prevailing insulation units combined with operational safety throughout the networks comprising frequent current faults and voltage outages. Additionally, the product is poised to showcase steep progress because of its effective cost structure, compact configuration, and insulating property. The continuous integration of digital monitoring systems merged with enhanced product flexibility will accelerate product deployment.

The commercial & industrial instrument transformer industry is slated to observe noteworthy change on account of the persistent upsurge in electricity demand and rapid urbanization and globally growing population. Favorable regulatory reforms on the development and enlargement of energy networks and the upgrade of traditional product portfolios will garner the market statistics.

The Asia Pacific instrument transformer market is set to foresee a significant upscale on impelled by the rising peak load power demand and an ongoing infrastructural development in and around the industrial & commercial sectors. The robust growth of large-scale cross-border electrical grid networks in line with the usage of efficient and advanced electric components for efficient electricity measuring & generation will foster the industry scenario.

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Some prime findings of the instrument transformer market report include:

  • The instrument transformer industry to grow attributing refurbishment and upgradation of prevailing electrical grid networks and rising large-scale renewable integration.
  • Favorable regulations on the development of efficient and effective electrical infrastructures and rising expansion of distribution energy networks will complement the market outlook.
  • Major manufacturers operating in the market include Siemens Energy, ABB, GE, and Mitsubishi Electric Corporation, amongst others.
  • Rising investments from public & private entities to sustain energy programs and favorable regulatory initiatives toward infrastructural development will drive the instrument transformer market growth.

Partial Table of Contents (ToC) of the report

Chapter 2 Executive Summary

2.1  Instrument transformer industry 3600 synopsis, 2018 – 2030

2.1.1  Business trends

2.1.2  Product trends

2.1.3  Winding trends

2.1.4  Cooling trends

2.1.5  Insulation trends

2.1.6  Rating trends

2.1.7  Mounting trends

2.1.8  Application trends

2.1.9  Regional trends

Chapter 3 Instrument Transformer Industry Insights

3.1  Industry ecosystem analysis

3.2  Innovation & technology landscape

3.3  Regulatory landscape

3.4  COVID- 19 impact on the industry outlook

3.5  Industry impact forces

3.5.1  Growth drivers  North America  Refurbishment demand for existing grid infrastructure  Rising infrastructural spending  Europe  Growing deployment of renewable energy  Upgradation of existing grid network  Asia Pacific  Large-scale renewable integration  Increasing demand for electricity  Middle East and Africa  Increasing demand for electricity  Growing investment toward expansion of distribution networks

3.5.2  Industry pitfalls & challenges  High initial cost & increased product prices

3.6  Growth potential analysis

3.7  Porter’s Analysis

3.8  Competitive landscape, 2021

3.9  PESTEL Analysis


Travel Insurance Market to value $35 billion by 2027, Says Global Market Insights Inc.


The travel insurance market is expected to surpass USD 35 billion by 2027, as reported in a research study by Global Market Insights Inc. Expanding tourism industry is likely to boost the demand. There has been an increase in the number of adventure travelers that undertake high-risk sports activities, encouraging them to invest in travel insurance policies to protect themselves from unfortunate circumstances during the trip. The growth of the adventure tourism is attributed to the presence of attractive landscape and availability of a large variety of activities.

The growing popularity of adventure travel blogging and video logging in social media platforms helps in increasing awareness about the benefits of travel insurance. Travel insurance providers offer customized policies for various activities including water sports, mountain sports, and racing sports.

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The increasing availability of extended travel insurance will help the market to grow at a substantial rate. Extended travel insurance covers longer-than-average holiday due to an emergency or flight cancellation. Extended travel insurance policies provide coverage for cancellation of trip, emergency medical treatment, personal belongings & baggage, passports & travel documents, and accommodation & legal expenses. The market players offer emergency hotel extension with additional lodging and boarding expenses if the travel companion is hospitalized abroad due to COVID-19. In case of lockdown in the destination country the travel insurance is automatically extended up to the mentioned period for the safety of travelers.

The expanding tourism sector in North America will offer growth opportunities to the travel insurance market. According to the Travel and Tourism Satellite Account, the tourism industry produced USD 1.6 trillion in the total economic output in 2018. National Travel and Tourism Office (NTTO) reduces institutional barriers to tourism and coordinates efforts across federal agencies through the Tourism Policy Council.

The governments of the U.S. and Canada are focusing on expanding the tourism market for economic growth, augmenting travel insurance sales in North America. To mitigate the risks associated with the occurrences of uncertainties, costumers are opting for travel insurance. The rise in the tourist population owing to attractive tourist destinations and easy online travel booking options will propel the regional travel insurance market growth.

Some major findings of the travel insurance market report are:

  • The travel insurance market will witness growth owing to the integration of advanced technology-based digital tools by insurance providers. The travel insurance distribution platforms are enhancing customer experience with the help of technologies including Artificial Intelligence (AI), Application Program Interface (API), data analytics, geo-location, and Global Positioning System (GPS).
  • Easy availability of online travel reservations and discounted package trips will help in market expansion. Online travel reservation platforms collaborate with insurance providers to offer tailored service, international assistance, claims service, and discounted package trips.
  • Supportive government initiatives to support international tourism is the driving force for growth in the travel insurance industry. The government’s mandatory laws and regulations have encouraged international tourists to purchase travel insurance as a prerequisite for VISA applications.
  • There has been an increase in the number of adventure travelers globally who focus on exploring new destinations and undertaking sports & recreational activities to enjoy leisure time. Various travel insurance companies are offering customized offerings for such activities.
  • Various market players offer travel insurance plans specifically for senior citizens that include greater cover for pre-existing and age-related health issues. The travel insurance companies provide a dedicated helpline number for senior citizens to minimize disruptions on their trip.

Video Conferencing Market to hit $75 billion by 2027, Says Global Market Insights Inc.


Major video conferencing market participants include Google, Adobe Systems, Avaya, BlueJeans Network, Cisco Systems, LogMeIn, Citrix Systems, Fuze, Highfive, Microsoft Corporation, Premiere Global Services, Huawei Technologies, KOLLECTIVE, Lifesize, MediaPlatform, Pexip, Polycom, ReadyTalk, uStudio, Zoom Video Communication, Vbrick, and Vidyo Inc.

The video conferencing market is expected to surpass USD 75 billion by 2027, as reported in a research study by Global Market Insights Inc. The ease of use and the pandemic-induced remote working are some of the factors propelling the industry demand.

The increase in outsourcing managed services for IT infrastructure will propel the video conferencing market growth. Many companies are hiring third-party companies to maintain IT services required in the organization including video-conferencing management. It also includes professional consulting services such as operations planning and user training & system recommendations. The managed services include remote solution monitoring, end-to-end ticket resolution, and technical video management. The corporates are also opting for such services as they offer customized video management solutions that include on-site staffing for several infrastructural issues faced by clients.

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The increasing use of video conferencing technology in the government sector will propel the industry growth. The video conferencing software providers offer a dedicated ecosystem to government bodies to conduct secured virtual meetings and discuss confidential information. The utilization of these platforms suddenly increased with travel restrictions imposed due to the COVID-19 outbreak, resulting in authorities conducting virtual meetings to establish reforms & conduct national level meetings for running the regular operations in the country. Video conferencing solutions help the government to reduce the overall operational cost and also conduct remote training sessions of different stakeholders.

The growing work from home culture in Europe will offer growth opportunities to the video conferencing industry. Several companies are offering permanent work from home options to their employees, particularly after the pandemic. The remote working model has encouraged companies to opt for secure video conferencing solutions for training and meetings. In Europe, according the weforum, the work from home population before & after the virus outbreak changed from around 5% to 12.1%. Finland accounted for the highest share of approximately 25% and Ireland & Luxembourg both accounted for 20% of all individuals working remotely.

Browse key industry insights spread across 280 pages with 530 market data tables and 39 figures & charts from the report,Video Conferencing Market Size By Component (Hardware [Multipoint Control Unit (MCU), Codecs, Peripheral Devices], Software [On-Premise, Cloud], Service [Professional, Managed]), By Type (Room-Based, Telepresence, Desktop), By Application (Corporate Enterprise, Education, Government, Healthcare), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027 in detail along with the table of contents:

Some of the major findings of the video conferencing market report are:

  • The market will witness significant growth on account of the integration of advanced technologies, such as AI, IoT, and machine learning, with the application, resulting in improved facial recognition, audio-video quality, virtual background, automated note taking, chat box, and active noise cancellation, thus creating a better user experience.
  • The increasing smartphone penetration globally will boost the video conferencing market. With multiple players entering the smartphone industry, the competition has increased, leading to lower prices of such devices with all the necessary features.
  • The evolving healthcare sector is fueling the demand for video conferencing technology. With the increasing adoption of online consulting for regular medical check-ups, individuals can receive proper medicinal support from the comfort of their homes, thereby saving both money and time.
  • The growing adoption of cloud-based video conferencing solutions will propel the market growth as there is no requirement of high-end audio-video equipment for conducting video conferencing sessions, thereby saving the overall cost.
  • The growing focus on the developing IT infrastructure in several countries will support the market growth. Government authorities are encouraging companies to invest in building the necessary set-up and create a digital transformation across the region.

Key players operating in the video conferencing market include Google, Adobe Systems, Avaya, BlueJeans Network, Cisco Systems, LogMeIn, Citrix Systems, Fuze, Highfive, Microsoft Corporation, Premiere Global Services, Huawei Technologies, KOLLECTIVE, Lifesize, MediaPlatform, Pexip, Polycom, ReadyTalk, uStudio, Zoom Video Communication, Vbrick and Vidyo.