Transformer Monitoring System Market Size

Transformer Monitoring System Market size was valued at USD 2.47 Billion in 2023 and is poised to grow from USD 2.7 Billion in 2024 to USD 5.45 Billion by 2032, growing at a CAGR of 9.20% during the forecast period (2025-2032).

The growth of the transformer monitoring system market is the rising investments in smart grid infrastructure. Governments across the globe are increasingly focusing on upgrading aging power infrastructure and integrating advanced technologies to improve energy efficiency and ensure a smooth transition to renewable energy sources. As a result, utilities are deploying TMS to gain better insights into transformer performance, optimise maintenance schedules, and enhance grid stability, fostering the market's expansion. These technologies facilitate the seamless integration of data from multiple sensors and devices, allowing operators to make informed decisions based on real-time insights. Additionally, the increasing trend of digitalization in power utilities has further driven the uptake of TMS, as it enables remote monitoring and control of transformers, reducing the need for manual intervention and minimising operational costs.

US Transformer Monitoring System Market is poised to grow at a sustainable CAGR for the next forecast year.