San Francisco, 21 December 2018: The Report Substation Automation Market Analysis By Component (Recloser Controller, Programmable
Logical Controller, Capacitor Bank Controller, Digital Transducer/Smart Meter,
Load Tap Controller, Communication Channel, Digital Relays), By Module (SCADA,
IEDs, Communication Network), By Communication Channel (Ethernet, Power Line
Communication, Copper Wire Communication, Optical Fiber Communication) And
Segment Forecasts To 2024
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.
 | |
| Substation Automation Market |
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.
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.
Access Research Report of Substation Automation Market @ www.grandviewresearch.com/industry-analysis/substation-automation-market
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 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 profoundly in developing advanced solutions and
focusing on the potential opportunities in the industry.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/communications-infrastructure-systems-and-software
Grand View Research has segmented the
global substation automation market on the basis of component, module,
communication channel, and region:
Substation Automation Component Outlook
(Revenue, USD Million, 2014 - 2024)
·
Recloser controller
·
Programmable logical controller
·
Capacitor bank controller
·
Digital transducer/smart meter
·
Load tap controller
·
Communication channel
·
Digital relays
·
Others
Substation Automation Module Outlook
(Revenue, USD Million, 2014 - 2024)
·
SCADA
·
IEDs
·
Communication network
Substation Automation Communication Channel
Outlook (Revenue, USD Million, 2014 - 2024)
·
Ethernet
·
Power line communication
·
Copper wire communication
·
Optical fiber communication
Substation Automation Regional Outlook
(Revenue, USD Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Rest of the World
Access Press Release of
Substation Automation Market@ www.grandviewresearch.com/press-release/global-substation-automation-market
About Grand View Research
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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