Substation monitoring is a key tool for
utilities as it provides the real-time based data through the integration of
software and hardware component. Substation monitoring involves acquiring
significant data from the parameters attached to substation assets such as
transformers, conductors, and circuit breaker, among others. The substation
monitoring system can be structured in three levels. First level involves Data
acquisition from each asset through appropriated sensor. Second level involves
Data storage and processing at substation level, and third level involves
Integration of the data from different substations into the general maintenance
management system of the utility.
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Global Substation Monitoring Market is
expected to witness high growth during the forecast period due to increasing
use of digital protection and control devices in the substation network.
Moreover, in order to meet the existing and future demand for efficient
utilization and operation of substation equipment, it is expected that the
trend for increased automation will continue with the support of latest
technology.
Segmentation
Global substation monitoring market has
been segmented based on component, communication technology, sector, industry,
and region. Based on industries, the market has been classified into oil &
gas, utility, steel, transportation, and mining, among others. Utility segment
is leading the market owing to the increasing implementation of substation
monitoring system for reduction in transmission and distribution losses as well
as ageing infrastructure of electric substations.
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Key
Players
The key players of global Substation
Monitoring Market are Siemens AG, ABB Ltd., Schneider Electric, General
Electric, Cisco, Emerson Electric, Honeywell, Eaton, Emerson Electric, Crompton
Greaves, Schweitzer Engineering Laboratories, Novatech, Igrid T&D, Sentient
Energy, Cadillac Automation and Controls, Tekvel, and I-TOR, among others
Regional
Outlook
Region wise, Asia Pacific held the largest
market share of the global substation monitoring market in 2017. The substation
monitoring system market in emerging economies, such as China, India, and South
Korea, is expected to grow at the highest CAGR because of the rising need for
reduction in transmission and distribution losses in these countries.
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