Substation Automation Market Share, Development Strategy, Sales Revenue, Emerging Technologies, Growth Factors, Competitive Landscape and Opportunity Assessment by Forecast 2023

Market Research Future
Market Research Future published a research report on “Global Substation Automation Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Overview

The global substation automation market is growing rapidly. The increasing demand of distributed intelligence is propelling the market growth of application development. For instance, the companies are investing in substation automation which is widely used for the utility industry. The growing urbanization along with increasing demand of electricity is boosting the demand of Substation Automation Market. These controllers are widely used in the utility industry. The real time automation controller which is boosting the demand of substation automation market. These automation controller are rugged, reliable to use and reduces training and flexible for application. It is integrated with human-machine interface which offer offer comprehensive data visualization.

According to the Market Research Future Analysis, the global substation automation market is expected to reach USD ~51 Billion by the end of the forecast period at a CAGR of ~9%.

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.

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Regional Analysis

The global substation automation market is studied in the Asia Pacific, North America, Europe, and Rest of the World. In North America, the substation automation market is gaining high market growth due to the increasing popularity of advanced intelligent electronic device and communication technologies, which is propelling the substation automation market growth. Whereas, the European countries are emerging as substation automation markets due to the increasing demand for smart grids and are expected to grow at the highest CAGR over the review period. Asia Pacific countries such as China, Japan, and India are some of the leading regions in the globe in terms of market share.

Segmentation

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.

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.

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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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