Substation Automation and Integration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Substation Automation and Integration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : March, 2023 | Technology & Media

Report Digest

Substation Automation and Integration Market: Overview

Wake of the communicable IEDs (Intelligent Electronic Devices), smart digital communication and progress in information technology have offered enhancements opportunities to the substation automation and integration market. By leveraging substation automation and integration, the utilities is anticipated to witness effective control, monitoring, automation, and protection of the applications, which could not exist by using their conventional counterparts. As a result, an acute demand for substation automation and integration is observed in the electric power industry.

Rise in the global population and their increasing energy needs have intensified the demand for smart utilization of electrical system capabilities. This has hard-pressed the manufacturers of the substation automation and integration market to devise neoteric substation model to offset the challenges faced by the existing substation automation systems with the convergence of technology into space. Owing to this realization, the global substation automation and integration market is anticipated to grow at an impressive pace through the forecast period.

Substation Automation and Integration Market – Novel Developments

  • Recently, Eaton announced the combination of highly-powered services, automation solutions, and equipment in order to modernize the electric grid and improve its productivity with substation automation and integration. By leveraging technology, Eaton will deliver more than the current substation automation and integration capacity and drive productivity. This will ultimately strengthen the current capacity of the grid and curtail any risk by delivering more reliable and cost-effective energy. The innovative energy management circuit breakers and substation automation and integration developed by Eaton will provide smart connectivity to utilities.
  • ABB Information Systems Ltd. recently collaborated with Intel to promote next-gen distribution substation automation and integration. The strategic collaboration is aimed at devising a single centralized unit that is software driven and provides extensive coverage. These substation automation and integration devices will be able to reduce security management and the investment costs, improve operational safety, adapt to the ever-changing network protection requisites, and have enhanced cyber security features.

Some of the most prominent competitors operating in the competitive landscape of global substation automation and integration market include –

  • ABB Ltd.
  • NovaTech LLC
  • Cooper Power Systems Inc.
  • General Electric Co.
  • Schweitzer Engineering Lab Inc.
  • Siemens AG
  • Alstom S.A.
  • Itron
  • GE Energy
  • Amperion
  • Echelon Corporation
  • Infrax Systems
  • Grid Net
  • Cisco Systems
  • Encore Networks
  • Eaton Corporation
  • Ruggedcom
  • Schneider Electric
  • S&C Electric Company
  • Trilliant & Tropos Networks
  • Open Systems
  • Power System
  • GridBridge
  • Utility Systems
  • Basler
  • Ingeteam S.A.

Substation Automation and Integration Market Dynamics

Need to Revamp the Aged Grid Infrastructures to Trigger the Growth of the Substation Automation and Integration Market

The electricity grid has undergone notable transformation since the time it was first developed when the energy requisites were low. With the advent of technology, consumption of electricity has significantly increased. Renewable sources of energy have been leveraged to generate electricity in an environmental-friendly manner. However, the fluctuating power from renewable energies can affect the stability of the grid, which calls for substation automation and integration.

Due to the addition in energy generating methodologies, the traditional electrical grid can be deemed as ineffective and they need to be revamped to make it cost-effective. The increasing demand for reliable, efficient, and secured grid infrastructure by replacing the aged grid infrastructures is prevalent, which can be realized by leveraging substation automation and integration. Eventually, the extensive utilization of automation will trigger the growth of the substation automation and integration market.

North America to Reign Supreme in the Global Substation Automation and Integration Market

Geographically, North America is expected to record impressive growth in the retail, industrial, and hospitality businesses, which have large power requirements. As a result of high industrial penetration, the scope of substation automation and integration is expected to increase in this region.

In addition to this, North America holds a prominent position in the development of advanced technology to meet the grid requisites, thereby creating demand for substation automation and integration. Following the footsteps of North America, Asia Pacific will simultaneously gain lucrative opportunities as the emerging economies continue to seek rapid industrial growth.

Substation Automation and Integration Market Segmentation

The substation automation and integration market can be bifurcated on the basis of substation types, communication network, and regions.

Substation Automation and Integration Market – Substation Types

Depending on the substation types, the substation automation and integration market can be classified into:

  • Collector Substation
  • Transmission Substation
  • Distribution Substation

Substation Automation and Integration Market – Communication Network

On the basis of the communication network, the substation automation and integration market can be segmented into:

  • Ethernet Communication
  • Fiber Optic Communication
  • Power Line Communication
  • Copper Wire Communication

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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?