Insulation monitoring devices are used to observe the insulation resistance of ungrounded system between an active phase and earth conductor. These devices initiate the alarm whenever the threshold limit is crossed by insulation resistance of the device. Some of the major drivers who fuel the insulation monitoring devices market in the forecast period are growing necessity of prevention of data loss due to power supply fluctuations; and rising demand for insulation monitoring devices from renewable energy power plants across the globe.
The high initial investment and a shortage of awareness regarding insulation monitoring devices are some of the factors which may hamper the insulation monitoring devices market. However, the mounting technological advancement, boosting use of insulation monitoring devices in data centers, and rising growth of industry 4.0 in developing economies are creating opportunities which will increase the demand for insulation monitoring devices in the forecast period.
