According the report, Power Utilities Accounts for Largest Market Share is one of the primary growth factors for the market. Increasing Investment in Grid Up-gradation and Smart Grid Systems is also expected to contribute significantly to the Substation Monitoring System market. Overall, Oil & Gas applications of Substation Monitoring System, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.

AMA’s Analyst on the Global Substation Monitoring System market identified that the demand is rising in many different parts of the world as "Integration of Advanced Sensors Presents Excellent Opportunity to Attain an Edge over the Market". Furthermore, some recent industry insights like "In 2021, Sentient Energy, Inc., subsidiary of Koch Engineered Solutions company, providing smart energy solutions for the power utilities has announced acquisition of key assets of Varentec, Inc. US based Varentec is a Grid Management Solutions Provider. The acquired assets include grid edge intelligence and dynamic control technologies. This acquisition will help Sentient provide comprehensive grid solutions to power utility companies." is constantly making the industry dynamic. One of the challenges that industry facing is "Rising Number of Cyber Attacks on Electricity Grids as well as Oil and Gas Lines and Requires Regular Maintenance Services"

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Substation Monitoring System market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Substation Monitoring System market and other related sub-markets covered in the study.

o Key & emerging players in the Substation Monitoring System market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Substation Monitoring System market size is calculated using market estimation process, the Substation Monitoring System market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Substation Monitoring System market size has been validated using both top-down and bottom-up approaches.