Power Substation Automation and Integration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
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.
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.
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.
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.
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 study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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