Substation Automation Market – Overview:-
The global substation automation market is spanned across Americas, Europe, Asia Pacific, and Rest of world. North America dominates the substation automation market due to increasing demand for distributed energy resources that has positive implications for the future of oil and energy sector, which is propelling the market growth to a large extent. The smart grid is another factor which is gaining momentum in the forecast years. In electric utilities, the substation automation is used for monitoring and managing the infrastructure operation of smart grid.
Global Substation Automation Market is expected to reach USD 51 Billion by the year 2023 at a CAGR of 6%.
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.
Industry Segment Overview:-
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.
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Tropos Network (U.S.), EATON Corp. (U.S.), Encore Networks (U.S.), Grid Net (U.S.), Schneider Electric (France), Siemens AG (Germany), ABB Group (Switzerland), General Electric (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) are Some of the prominent players in the global substation automation market
Regional Analysis of Substation Automation Market:-
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The global substation automation market consists of the North America, Europe, Asia Pacific, and Rest of the world. North America is dominating the global substation automation market. The substation automation market is witnessing the high growth due to increasing demand for advanced metering infrastructure among various industries including utility, transportation, mining, steel, and among others. Europe is projected to hold the second largest share of the global substation automation market during the forecast period due to increasing demand of reducing time of transmission substations. Asia Pacific is expected to witness the highest CAGR in the coming years.
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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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