Substation Automation Market Share, Size, Trends, Growth, Outlook and Forecast (2020-2025)

According to the latest report by IMARC Group, titled "Substation Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global substation automation market experienced strong growth during 2012-2019. Substation automation is the process of using data from intelligent electronic devices (IEDs). It is used for employing control and automation capabilities within the substation while controlling commands from remote users. It uses substation and feeder operating functions and applications for optimizing the management of capital assets. Its deployment is also known to improve the operating efficiency of the system by minimizing human intervention. Consisting of circuit breakers, transformers, microprocessor-based relays and motor-operated air switches, these systems offer numerous benefits, such as detecting fault locations, minimizing outages, reducing operating and maintenance costs, enhancing information management and offering security control with multiple access levels. As a result, it is widely being adopted across numerous industry verticals, including mining, oil and gas, and transportation. Request for a free sample copy of this report: https://www.imarcgroup.com/substation-automation-market/requestsample

Global Substation Automation Market Trends: The global market is primarily driven by the continual developments in the transmission and distribution (T&D) infrastructure. Automated substations are a key component of electricity T&D processes. Significant investments to improve the aging T&D infrastructure, along with the increasing adoption of renewable energy and natural gas power, is creating a positive outlook for the market. Additionally, the growing demand for the development of smart grids, in confluence with the emerging trend of smart cities, is catalyzing the demand for substation automation. Technological advancements, such as SCADA and development in communication technologies, are also anticipated to provide a thrust to the market growth. Additionally, various manufacturers are integrating primary equipment with modern sensors, protective relays, programmable logic controllers and digital transducers, which are projected to spur the market growth. This will be further supported by rapid industrialization, growing requirement for retrofitting and improvement of existing substation equipment, along with favorable government initiatives and extensive research and development (R&D). On account of the aforementioned factors, the market is projected to expand at a CAGR of around 5% during the forecast period (2020-2025). Buy full report with table of contents: https://www.imarcgroup.com/substation-automation-market Insights on Market Segmentation: Market Breakup by Module Type: 1. Intelligent Electronic Devices 2. Communication Networks 2. SCADA Systems Based on the module type, the market has been divided into intelligent electronic devices, communication networks and SCADA systems. Market Breakup by Component: 1. Hardware 2. Software 3. Services On the basis of the component, the market has been classified into hardware (reclose controllers, programmable logical controllers, capacitor banks, smart meters, load tap changers, digital relays, fiber-optic cables and others), software (production, asset and performance management software) and services (installation and commissioning, upgradation and retrofitting, testing, repair and maintenance, and others). Market Breakup by Communication Channel: 1. Ethernet 2. Copper Wire Communication 3. Power Line Communication 4. Optical Fiber Communication 5. Others Based on the communication channel, the market has been segregated into ethernet, copper wire communication, power line communication, optical fiber communication and others. Market Breakup by Substation Type: 1. Transmission 2. Distribution On the basis of the substation type, the market has been bifurcated into transmission and distribution. Market Breakup by Installation Type: 1. New Installation 2. Retrofit Installation Based on the installation type, the market has been categorized into new and retrofit installations. Market Breakup by End-Use Industry: 1. Utility 2. Transportation 3. Metals & Mining 4. Oil and Gas 5. Others On the basis of the region, the market has been segmented into utility, transportation, metals and mining, oil and gas, and others. Market Breakup by Region: 1. North America 2. Asia Pacific 3. Europe 4. Latin America 5. Middle East and Africa On the geographical front, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. Competitive Landscape: The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the market. Some of these key players include ABB Asea Boveri Brown Ltd., Eaton Corporation plc, General Electric Company, Aetheros, Inc., Larsen & Toubro Limited, Power System Engineering, Inc., SAE IT-systems GmbH & Co. KG, Schneider Electric SE, and Siemens Aktiengesellschaft.

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