Industry Background:
Substation automation is an intelligent electrical delivery system that is integrated with communications and information technology to enhance grid operations, improve customer service, lower costs. It refers to using data from intelligent electronic devices, control and automation capabilities within the substation. Substation automation system benefits in the Automatic supervision of interlocks, Graphical presentations of safety procedures and others.This growth is primarily driven by Increasing demand of smart grids
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Attributes | Details |
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Study Period | 2018-2031 |
Base Year | 2024 |
Forecast Period | 2024-2031 |
Volume Unit | Million Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Telecommunications Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (United States), Cisco Systems (United States), Schneider Electric (France), Eaton Corporation Plc. (Ireland), Honeywell International (United States), Larsen & Toubro Limited (India), Schweitzer Engineering Laboratories Inc. (United States) and ETAP (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Aug 2018, ABB announced upgradation of world’s largest substation, which equipped with digital technology to enhance controllability and reliability while optimizing operation costs.In Dec 2018, General Electric and JSC VO Elektroapparat announced the launch production of substation automation solutions in Russia, which enable continuous and efficient control of power grids with scalable solutions tailored to specific need of customer.
Influencing Trend:
Increasing demand for retrofitting conventional substations
Market Growth Drivers:
Increasing demand of smart grids and Rising demand for efficient and low-cost solutions in the solar energy sector
Challenges:
The advancement of technology in the power industry has led to increase in the cyberattacks, which become the barrier in this industry
Opportunities:
Due to increasing adoption of smart grid applications and technology advancement are expected high growth opportunity in this market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Substation Automation Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Substation Automation Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Substation Automation players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Substation Automation Study Sheds Light on
The Substation Automation Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Substation Automation industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Substation Automation industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.