Aging electrical network assets and additional advantages provided by the smart cable guard system technology over traditional fault detection systems is expected to propel the market growth over the forecast period. Moreover, government support for installation of advanced power infrastructure across the globe is likely to give impetus to the market growth during 2018-2024.
Fault detection plays a crucial role in the distribution of power through transmission lines. Power cables deteriorate over time, and result in breakdowns and blackouts in the grid system. This results in loss to industrial assets and irreparable damages to the functioning of energy intensive manufacturing units. This has resulted in demand for a system which can automatically detect and notify the operators allowing them to take preemptive action.
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