Companies such as Schneider Electric (France), Siemens AG (Germany), ABB Group (Switzerland), General Electric (U.S.), EATON Corp. (U.S.), Larsen & Toubro Limited (India), Power System Engineering, Inc. (U.S.), Texas Instruments (U.S), Toshiba Corporation (Japan), are the leading providers of substation automation solutions in the global market. The growing demand for retrofitting of conventional substations and smart grid are some of the main driving factors of the Substation Automation Market growth. The smart grid helps in reliability and productivity of power systems. On 03rd April 2017, GE signed a contract to deliver four electricity substations to power infrastructure in Saudi Arabia. This contract includes substation automation to regional control centers via SCADA system.
The advanced smart substation automation system is boosting the demand of substation automation market because it is widely used in the applications of power systems. The implementation of conventional protection is vital for substation. The requirement of these system are used for protection and control of these automation. It monitors the equipment’s condition. These systems are integrated with intelligent electronic devices that can protect and control the system and offer high performance remote functions of power system management.
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Some of the prominent players in the global substation automation market are Schneider Electric (France), Siemens AG (Germany), ABB Group (Switzerland), General Electric (U.S.), Tropos Network (U.S.), EATON Corp. (U.S.), Encore Networks (U.S.), Grid Net (U.S.), Cisco Systems, Inc. (U.S.), Cooper Industries (U.S.), Larsen & Toubro Limited (India), Power System Engineering, Inc. (U.S.), Texas Instruments (U.S.), Axiomtek Co. Ltd (Taiwan),Toshiba Corporation (Japan), Ametek (U.S.), SAE IT-systems GmbH & Co. KG (Germany), among others.
Global Substation Automation Market Segmentation
The global substation automation market is segmented into component, module, communication channel, industry, and region. The component is sub-segmented into recloser controller, capacitor bank controller, smart meter, load tap controller and others. The module is sub-segmented into SCADA, intelligent electronic device, communication network and others. The communication channel segment is sub-segmented into Ethernet, copper wire communication, power line communication, optical fiber communication and others. The industry is sub-segmented into utility, transportation, mining, steel, and others. The global market is spanned across North America, Europe, Asia Pacific, and rest of the world.
The global substation automation market is expected to reach USD 51 Billion by the year 2023 at a CAGR of 6%.
The global substation automation market appears to be extremely competitive. In order to target, segment, and position their sensors into the global market and to drive the market growth, the companies have to come up with advanced technological solutions to maintain themselves in the competitive landscape. Market leaders are investing in research and development for innovating their products continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, and cost-effective product portfolio.
The global substation automation market is studied in the Asia Pacific, North America, Europe, and Rest of the World. In North America, the substation automation market is gaining high market growth due to the increasing popularity of advanced intelligent electronic device and communication technologies, which is propelling the substation automation market growth. Whereas, the European countries are emerging as substation automation markets due to the increasing demand for smart grids and are expected to grow at the highest CAGR over the review period. Asia Pacific countries such as China, Japan, and India are some of the leading regions in the globe in terms of market share.
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- Associations, organizations, forums, and alliances
- Cloud service providers
- Customer experience solution providers
- Government bodies and departments
- Substation automation companies
- Substation automation providers
- Technical universities
- System integrators
- Managed Security Service Providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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