Substation Automation Market Is Projected To Develop Swiftly, To Reach $185.80 Billion By 2024: Grand View Research, Inc.

Substation Automation Market Size Worth $185.80 Billion By
2024
“The global substation automation market size is expected to reach USD 185.80
billion by 2024. The increasing requirement for operation efficiency, improved
quality, increased production, high uptime, and ease of monitoring and controlling
the industrial process are factors that are expected to contribute to the industry
growth”
The global substation automation market size is expected to reach USD 185.80
billion by 2024 according to a new report by Grand View Research, Inc. The
increasing requirement for operation efficiency, improved quality, increased production,
high uptime, and ease of monitoring and controlling the industrial process are factors
that are expected to contribute to the industry growth.
The growing advancements in the smart grid technology are increasing the scope for
SCADA systems. The primary factors leading to the rising adoption of the smart grid
technology include improved reliability, efficiency, and sustainability of the existing
power systems. They are widely used in automation technologies, which actively
monitor transmission and distribution grids.
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Detailed Research Report available at:
http://www.grandviewresearch.com/industry-analysis/substation-automationmarket
The energy and power utilities are focusing on minimizing the distribution and
transmission losses, which has resulted in the increasing deployment of substation
automation, driving the industry growth. Moreover, utilities across the world are facing
a high requirement for improved electric service reliability and stability. They are
focusing on improving the resiliency of the grid, which is contributing toward the high
industry demand.
Further key findings from the report suggest:

Programmable Logic Controllers (PLCs) are expected to witness a considerable
growth at a CAGR of nearly 3% over the forecast period owing to the
technological advancements. Developments such as miniaturization, low cost,
and improved power have led to an increased adoption of PLC systems.
Moreover, the surge in the technology and pricing innovation in the PLC industry,
owing to the intense competition among the tier-one companies and rising
customer demand, is anticipated to drive the industry over the forecast period.

Furthermore, the communication channel segment is expected to witness an
extensive growth at a CAGR of over 9% from 2016 to 2024. The rising demand
for advanced communication capabilities to communicate across remote areas
with an improved overall efficiency of power utilities is the major factor boosting
the segment growth.

The SCADA segment is estimated to grow at a considerable CAGR of over 9%
from 2016 to 2024, owing to the increasing advancements in the smart grid
technology. The primary factors leading to the rising adoption of the smart grid
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technology include improved reliability, efficiency, and sustainability of the
existing power systems. The rising demand for the multi-touch SCADA
technology across verticals such as industrial and manufacturing is further
expected to spur the industry growth over the forecast period.

Copper wire communication was a prominent communication channel,
accounting for a revenue share of around 42% in 2015. The copper wire
communication has observed a high adoption owing to the low initial cost of
copper base metal. However, it is anticipated to lose market share due to the
emergence of advanced communication platforms, such as the Ethernet and
optical fiber communication. The optical fiber communication segment is
expected to grow at a CAGR of nearly 10% over the next eight years. The optical
fiber used in the substation automation provides advantages such as immunity to
EMI/RFI; secure data communications, and a higher bandwidth that supports
higher data rates over long distances.

North America dominated the market with a significant revenue share of over
32% in 2015. However, emerging countries such as China and India are
anticipated to drive the substantial demand in this region, owing to the increasing
demand for energy efficiency and smart power infrastructure. The automation
technology has become an integral part of the power systems worldwide. It is
expected to drive power transmission and distribution, contributing to the market
growth. Europe is anticipated to witness a considerable growth owing to the
increasing demand for smart grid solutions in Western Europe.

The key industry players include ABB Ltd., Cisco Systems, Inc., Crompton
Greaves Ltd., Eaton Corporation Plc., General Electric Company, Larsen &
Toubro Limited, Siemens AG, Schneider Electric SE, Trilliant Holdings, Inc., and
Venson Electric Pvt. Ltd. The manufacturers in the market are investing
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profoundly in developing advanced solutions and focusing on the potential
opportunities in the industry.
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Table of content of global substation automation market research report:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Substation Automation - Industry snapshot and key buying criteria,
2014 - 2024
Chapter 3. Substation Automation Industry Outlook
3.1. Market segmentation
3.2. Market size and growth prospects
3.3. Substation automation value chain analysis
3.3.1. Vendor landscape
3.4. Substation automation market dynamics
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3.4.1. Market driver analysis
3.4.1.1. Emergence of smart cities to benefit the substation
automation market
3.4.1.2. Growing demand for the smart grid solution
3.4.2. Market restraint analysis
3.4.2.1. Lack of global standards
3.5. Key opportunities prioritized
3.6. Industry analysis - Porter's
3.7. Substation automation - Key competitor analysis, 2015
3.7.1. Market strategy overview
3.8. Substation automation market PESTEL analysis, 2015
Chapter 4. Substation Automation Component Outlook
4.1. Recloser controller
4.1.1. Global market estimates and forecasts, 2014 - 2024
4.2. Programmable logical controller
4.2.1. Global market estimates and forecasts, 2014 - 2024
4.3. Capacitor bank controller
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4.3.1. Global market estimates and forecasts, 2014 - 2024
4.4. Digital transducer/smart meter
4.4.1. Global market estimates and forecasts, 2014 - 2024
4.5. Load tap controller
4.5.1. Global market estimates and forecasts, 2014 - 2024
4.6. Communication channel
4.6.1. Global market estimates and forecasts, 2014 - 2024
4.7. Digital relays
4.7.1. Global market estimates and forecasts, 2014 - 2024
4.8. Others
4.8.1. Global market estimates and forecasts, 2014 - 2024
Chapter 5. Substation Automation Module Outlook
5.1. SCADA
5.1.1. Global market estimates and forecasts, 2014 - 2024
5.2. IEDs
5.2.1. Global market estimates and forecasts, 2014 - 2024
5.3. Communication network
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5.3.1. Global market estimates and forecasts, 2014 - 2024
Chapter 6. Substation Automation Communication Channel Outlook
6.1. Ethernet
6.1.1. Global market estimates and forecasts, 2014 - 2024
6.2. Power line communication
6.2.1. Global market estimates and forecasts, 2014 - 2024
6.3. Copper wire communication
6.3.1. Global market estimates and forecasts, 2014 - 2024
6.4. Optical fiber communication
6.4.1. Global market estimates and forecasts, 2014 - 2024
Chapter 7. Substation Automation Regional Outlook
7.1. North America
7.1.1. Substation automation market by component, 2014 - 2024
7.1.2. Substation automation market by module, 2014 - 2024
7.1.3. Substation automation market by communication channel, 2014 2024
7.2. Europe
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7.2.1. Substation automation market by component, 2014 - 2024
7.2.2. Substation automation market by module, 2014 - 2024
7.2.3. Substation automation market by communication channel, 2014 2024
7.3. Asia Pacific
7.3.1. Substation automation market by component, 2014 - 2024
7.3.2. Substation automation market by module, 2014 - 2024
7.3.3. Substation automation market by communication channel, 2014 2024
7.4. Latin America
7.4.1. Substation automation market by component, 2014 - 2024
7.4.2. Substation automation market by module, 2014 - 2024
7.4.3. Substation automation market by communication channel, 2014 2024
Chapter 8. Competitive Landscape
8.1. ABB Ltd.
8.1.1. Company Overview
8.1.2. Financial Performance
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8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Cisco Systems, Inc.
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. Crompton Greaves Ltd.
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. Eaton Corporation Plc.
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
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8.5. General Electric Company
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Larsen & Toubro Limited
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. Schneider Electric SE
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. Siemens AG
8.8.1. Company Overview
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8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. Trilliant Holdings, Inc.
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Verson Electric Pvt. Ltd.
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
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About Grand View Research, Inc.:
Grand View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, the company offers
market intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: [email protected]
Web – http://www.grandviewresearch.com/
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The global substation automation market size is expected to reach USD 185.80 billion by 2024 according to a new report by Grand View Research, Inc. The increasing requirement for operation efficiency, improved quality, increased production, high uptime, and ease of monitoring and controlling the industrial process are factors that are expected to contribute to the industry growth. Click here - http://www.grandviewresearch.com/industry-analysis/substation-automation-market

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