Smart transformer is an integral part of the smart grid. It constantly regulates voltage and protects electrical equipment from power fluctuations. It also provides information and feedback about power supply and establishes communication between utility provider, end-user site, and other transformers in the network. The smart transformer comprises an electronic control and online monitoring system, electronic oil level indicator, electronic pressure relief device, electronic buchholz relay, and self-dehydrating air breather, helping in better load management and facilitating efficient use of power with less power outages. A new technology in the smart transformers market has been introduced with the name of solid state transformer. A solid state transformer is a device that consists of specialized semiconductor equipment, High-Frequency (HF) transformers, and control and communication circuitry with diverse power delivery capacity. It is expected to find its use in power distribution, electric locomotive, alternative power generation and other applications. Solid state transformers offer superior power quality due to voltage harmonics reduction, sag compensation, and power factor correction.

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.