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Market Scenario: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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Global substation automation market: Segmental Analysis
The global substation automation market has been segmented on the basis of component, module, communication channel, and industry. Based on component, the global substation automation market has been segmented into recloser controller, capacitor bank controller, smart meter, load tap controller and others. Based on module, the global substation automation market has been segmented into SCADA, intelligent electronic device, communication network and others. Based on communication channel, the global substation automation market has been segmented into Ethernet, copper wire communication, power line communication, optical fiber communication and others. Based on industry, the global substation automation market has been segmented into utility, transportation, mining, steel, and others.
Key Players
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.
Competitive Analysis
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.
Global Substation Automation Market: Regional Analysis
Geographically, the global substation automation market has been segmented into four major regions such as North America, Asia Pacific (APAC), Europe, and the rest of the world. Among these, the North America region commands the major share of the global substation automation market. The factors such as high adoption rate of advanced electronic devices, rapid improvement in internet connectivity, increasing demand for technologically advanced solutions, and increased government funding to convert public infrastructures into smart buildings are majorly propelling the growth of the substation automation market in the North America region. The Asia Pacific (APAC) region is projecting significant growth in the global substation automation market. The factors that are governing the growth of the substation automation market in this region are rapid adoption of advanced technology, development of technologically advanced solutions, improved internet connectivity, and high preference of automation of services in the developing countries such as India, China, Japan and others. High incorporation of technologically advanced solutions and increased government funding for development of automation are majorly fueling the growth of the substation automation market in the Europe region.
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Intended Audience
• 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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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Release ID: 507780
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