TechNavio recognizes the following companies as the key players in the Global Substation Automation Market: ABB Ltd., Siemens AG, Schneider Electric SA, Honeywell International Inc., Rockwell Automation Inc., GE Co., and Invensys plc.
Commenting on the report, an analyst from TechNavio’s Clean Tech team said: “Since 2009, governments in various countries across the globe have introduced and implemented numerous grants and policies that favor the Substation Automation sector. This is a trend that has had a major positive impact on the Global Substation Automation market. For instance, in Canada, governmental initiatives such as the Ontario smart grid initiatives, the Independent Electricity System Operator, and the Hydro-Quebec Plan encourage substation automation through current and upcoming projects. In the US, the American Recovery and Reinvestment Act of 2009 provide numerous substation automation and smart grid grants. Various other government initiatives and organizations include the North American Electric Reliability Corporation and critical infrastructure protection guidelines. Additionally, the emergence of mandatory cyber security defenses introduced by various US and Canada federal entities for the period of 2012-2016 will make the Substation Automation Communication segment stronger globally.”
According to the report, one of the major drivers in this market is the need to reduce T&D losses. Substation automation helps power utility operators detect T&D losses accurately and on time, thus helping them rectify problems faster than was possible before. Moreover, as T&D losses in various regions across the globe have increased over the past few years, and installation of substation automation systems is required to help reduce such losses. This drives the growth of the Global Substation Automation market.
Further, the report states that one of the major challenges in this market is the increased vulnerability to cyber-attacks. As substation automation requires the incorporation of sophisticated technologies and networks into electric power grids, they become vulnerable to cyber-attacks and viruses. This puts the security of customer data at stake; therefore, power utilities may be reluctant to opt for automation. This hinders the growth of the market.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Subnet Solutions Inc., RuggedCom Inc., Open Systems International Inc., Silver Spring Networks Inc., Trilliant Inc., Cisco Systems Inc., NovaTech LLC, Tropos Networks Inc., and BPL Global Ltd.
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. For further information on this report, please visit https://www.technavio.com/content/global-substation-automation-market-201…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/clean-technology
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TechNavio Announces the Publication of its Research Report -Global Substation Automation Market 2012-2016
