This research offers detailed segmentations of the global substation automation market by products such as monitoring and recording, control and protection, IIDS, and integrated communication. The report provides market shares and forecast for its key regions, including Asia, North America, Europe, and ROW. Key findings also include an analysis of the leading vendors such as ABB, GE, Schneider Electric, and Siemens.
Technavio analysts provides an in-depth analysis of the automation market, with the publication of its new report, global substation automation market, The substation sutomation market is expected to grow at a CAGR of more than 5% between 2015 and 2019.
The new market research report from Technavio provides a breakdown and analysis of the substation automation segments by geography and products.
Asia occupies the highest share of the substation automation market globally covering around 46%, owing to escalating energy demand in the region. By 2020, more than 60 thousand substations in Asia would be available for automation to improve the efficiency of the transmission and distribution (T&D) networks. India and China would be the dominating markets in this region, observing their growing energy consumption and eventual demand for smart grids.
Substation automation market in Asia 2014-2019
Source: Technavio Research
The monitoring automation systems support the operation of T&D grid by observing critical parameters such as current, voltage, and frequency. As per the market study, it is predicted that monitoring and recording segment would account for around 45% of the market share by 2019. The segment is further classified into wireless system sensors, demand response, advanced sensors, sensing and response, and consumer portals.
“Substation automation systems include advanced technologies that help power utility providers to quickly respond to system turbulence. This can be done through IEDs and feeder-switching equipment such as circuit breakers, reclosers, and FDIRs, which help power utilities supervise, measure, and control power-related activities automatically,” says Navin Rajendra, Lead Analyst, Industrial Automation, Technavio Research.
Leading vendors in the substation automation market include ABB, GE, Schneider Electric and Siemens. The market is witnessing increased investments in the global power industry to achieve the growing energy demand, which provides a good opportunity for the substation automation vendors to increase their market share.
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