Substation monitoring helps in reducing the risk of blackouts and brownouts in the power distribution and transmission grid due to its aging infrastructure and a lack of automation systems that monitor the condition of critical equipment at substations and elsewhere on the grid. This monitoring would help in reducing the maintenance and labor cost, as well as the loss of infrastructure.
Visionary leaders receive high scores for the most evaluation criteria. They have a strong service portfolio, market presence, and business strategies. In the substation monitoring system market, visionary leaders are the players who have commercialized their products with advanced monitoring systems platforms.
Dynamic differentiators are established vendors with strong business strategies. However, they have a weak product portfolio. They generally focus on a specific type of technology related to the product. There are many companies in the eye tracking market that largely depend on their competitive R&D. These companies are closely monitoring and developing eye-tracking technology and devices for various applications, and expect to generate revenue by collaborating with other companies or licensing their technology.
The need for innovative technologies to modernize access control offerings has resulted in innovations in the access control market. Innovators demonstrate substantial product innovations compared with their competitors. These players have wide product portfolios. However, they lack effective growth strategies for their overall business.
Emerging quadrant includes the players which have a relatively moderate position in the market, along with comparatively weaker business strategies and geographic presence. However, these players are expected to hold a significant position in the near future. As the market poses a moderate threat to new entrants in establishing their footprint.