Power Substation Automation and Integration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Power Substation Automation and Integration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : July, 2021 | Energy & Mining

Report Digest


Global Power Substation Automation and Integration Market: Snapshot

Smart grid infrastructures have fundamentally transformed the electric power industry in a number of developed and developing nations. They play a seminal role in power substation automation and integration and have increased implementation in the electric sector. They essentially consist of advanced control methods and modern system software infrastructure. Out of several components of smart grid, primary are smart sensing & metering technologies and intelligent electronic devices (IEDs), which have greatly helped in the automation of power substations. These intelligent electronic devices contain microprocessors that can provide inputs and outputs to the smart grid system, perform some essential primary control service, and help in the exchange of operational and non-operational data. Most common IEDs include protective relays, load survey, revenue meters, programmable logic controllers (PLCs), and power equipment controllers. Supervisory control and data acquisition (SCADA) systems are the key to operational data management and are used to control and monitor the power system in substation.

Smart metering technologies furnish data that help in remote monitoring, manage time-of-use pricing, and enable demand-side management for consumers of utilities. Along with smart metering systems, SCADA have become ubiquitous in smart grid technologies. These components are deployed to improve as well as automate operation and maintenance (O&M) efficiencies. Several vendors offering analytical tools for integrating information technology (IT) and operational technology (OT) capabilities in power substation must ensure that utilities can extract more valuable information from smart meters. Non-operational data consists of important information on event summaries through oscillographic reports and sequential events records. In addition, SCADA also helps grid operators and managers to prevent any security breach and cyberattacks, which has boosted their popularity in power substation automation and integration market.

Global Power Substation Automation and Integration Market: Overview

Power substation automation and integration facilities are used to enhance the command, automation, and control within substations. The technology is mainly used in electrical distribution systems. Intelligent electronic devices used to generate data are the most commonly used machines in substation automation.

The power substation automation and integration market report provides a comprehensive market overview covering the various drivers and restraints, and identifying the market opportunities. It is compiled using exhaustive data obtained via proven methods of research and from trusted industrial sources. Presented in a chapter-wise format, the report also includes various graphs, infographs, statistics, and data aimed providing added information regarding the global power substation automation and integration market.

It also studies the effect of Porter’s five forces on the market. The analysis gauges the bargaining power of buyers and sellers, threat from substitutes and new entrants, and the degree of competition prevailing in the market. Information thus compiled in the report is aimed at providing the leading companies a better perspective of the prevailing business dynamics and help them create successful business strategies.

Global Power Substation Automation and Integration Market: Trends and Opportunities

The power substation automation and integration market is gaining impetus from the increasing adoption of smart grid infrastructures, which are also fast replacing the existing power infrastructures. The rising demand for the former is attributed to the multifunctional solutions they provide, which majorly are in compliance with the advanced protocols of communication. Additionally, the market is expected to gain impetus from the rising need for improving the grid efficiency and reliability.

Despite witnessing positive growth, the high initial investment required to deploy power substation automation and stringent regulations could hamper the market’s trajectory to an extent.

Global Power Substation Automation and Integration Market: Regional Outlook

Regionally, while North America established dominance in the global power substation automation and integration market, Asia Pacific is projected to report a higher CAGR during the course of the report’s forecast period. Due to the considerably high industrial penetration, the demand for power substation automation and integration will continue to remain high in North America. However, the growth witnessed across major economies is likely to stagnate in the forthcoming years, compelling the leading market players to look for opportunities in developing nations. In Asia Pacific they will discover lucrative prospects as emerging nations exhibit rapid industrial growth and flourishing economies.

Global Power Substation Automation and Integration Market: Vendor Landscape

The vendor landscape analysis includes profiles of companies such as ABB Ltd., Cooper Power Systems Inc., Schweitzer Engineering Lab Inc., Alstom S.A., Siemens AG, General Electric Co., and NovaTech LLC among others. The analysis covers financial reports of the companies profiled, an evaluation into the recent business strategies and subsequent effects, strengths and weaknesses, and the evolution of their operations over the years. Based on research thus conducted, the report provides refined outlook to assist the market players, both existing and new entrants, create winning business strategies for the future.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?