Global Insulation Monitoring Devices Market Size, Share, Opportunities, And Trends By Voltage (Insulation Monitoring Devices For Low Voltage, Insulation Monitoring Devices For Medium Voltage, Insulation Monitoring Devices For High Voltage), By Device Application (Harsh Environment, Standard Environment, Photovoltaic, Marine), By End User Industry (Power Utilities, Healthcare, Transport, Mining, Heavy Industry, Automation Systems, Others), And By Geography - Forecasts From 2023 To 2028

The Global Insulation Monitoring Devices Market was valued at US$XX billion in 2017 and is projected to expand at a CAGR of XX.XX% over the forecast period to reach US$XX billion by 2023. An insulation monitoring device is used to monitor the insulation resistance of unearthed systems and is installed between the active conductors and earth and superimposes a measuring voltage. The insulation monitoring device provides an early warning of insulation failure by activating an alarm whenever the insulation resistance falls below a set of values. These are required in all IT power supply systems according to standards. Increasing fire accidents due to machinery failure is the major factor that many industries are adopting insulation monitoring devices as a safety measure because not only they are capable of detecting deterioration of the insulation level at an early stage but also it ensures continuous operation despite the first fault. With new regulations that mandate the use of insulation monitoring devices for medical equipment in the healthcare sector and their increasing utilization in the transportation sector, the insulation monitoring device market is expected to grow at an impressive rate over the forecast period.

By Voltage

By voltage,  the global insulation monitoring market has been segmented as insulation monitoring devices for low voltage, insulation monitoring devices for medium voltage, and insulated monitoring devices for high voltage. Based on the configuration of the IT system, the insulation monitoring devices are deployed.

By Device Application

By device application, the global insulation monitoring market has been segmented into harsh environment applications, standard environment applications, photovoltaic applications, and marine applications. Based on the type of industry and environment, IMD devices are deployed. For an instance, HIG 95- Delta is intended for the healthcare sector where standard environmental conditions prevail.

By End User Industry

By End-user industry, the global insulation monitoring market has been segmented into Power utilities, Healthcare, Transport, and Mining industries. Power utilities require insulation monitoring devices to monitor the power supply for unearthed systems. The healthcare industry has been a prominent consumer of these devices owing to their requirement in operation theatres and intensive care units.

By Geography

Geographically, the global insulation monitoring devices market has been segmented into North America, Europe, the Middle East & Africa, Asia-Pacific, and South America region. North America dominates the insulation monitoring market owing to the penalty-based environmental regulations, high awareness of energy conservation, and rising adoption of insulation monitoring devices in data centers, healthcare, and transportation.

Competitive Intelligence

The Global Insulation Monitoring Devices market is competitive owing to the presence of well-diversified global and regional players and the increasing adoption of insulation monitoring devices across various industries. The global key players are  Bender GmbH & Co. KG, Schneider Electric, Mitsubishi Electric Corporation, Littlefuse, Inc., Eaton, ABB, Siemens AG, Viper Innovations Ltd., and Ciprotec, S.L.

Segmentation

The Global Insulation Monitoring Devices market has been analyzed through the following segments:

• By Voltage

• Insulation Monitoring devices for low voltage
• Insulation Monitoring devices for medium voltage
• Insulation Monitoring devices for high voltage

• By Device Application

• Harsh Environment Application
• Standard Environment Application
• Photovoltaic Application
• Marine Application

• By End User Industry

• Power Utilities
• Healthcare
• Transport
• Mining
• Heavy Industry
• Automation Systems

• By Geography

• North America

• United States
• Canada
• Mexico
• Others

• South America

• Brazil
• Argentina
• Others

• Europe

• Germany
• France
• Italy
• United Kingdom
• Others

• Middle East and Africa

• Israel
• Saudi Arabia
• UAE    
• Others

• Asia Pacific

• Japan
• China
• India
• Australia
• South Korea
• Others