The global
Substation Monitoring Market is estimated to expand at 8.50% CAGR during the
forecast period. Substation monitoring system that provides the information
about the electrical transmission and distribution network. The substation
monitoring involves the monitoring of different parameters such as voltage,
frequency, power input and output of a substation. This data is collected to
transmitted through communication technologies to the main station. These data
related to these parameters are captured from various devices installed in a
substation including transformers, switchgears, conductors & isolators, and
circuit breakers, among others. Substation monitoring provides numerous
advantages while monitoring, controlling, and managing a substation. These
advantages include remote monitoring to avoid further power loss and time, low
maintenance required, high accuracy and efficiency, and entire system can be
shut down for quick repairs and re-installations.
The global
substation monitoring market is set to witness high growth owing to increasing
population. The changing electricity consumption pattern in the region has led
to T&D losses. So, to minimize the T&D losses has triggered the need
for a proper system to mitigate the losses occurring due to complex electricity
T&D network. However, the government of various Asian economies are
actively participating in the energy efficiency in the T&D network.
Prominent Players
The key players of the 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
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Industry Segmentation
The Substation Monitoring Market has been segmented based on industries
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.
Based on
component, the Substation monitoring market is segmented into hardware and
software. The software segment is estimated to grow at a faster pace during the
forecast period. The increasing use of electricity in the industries and demand
for uninterrupted power in developing economies including China and India are driving
the growth of the substation monitoring system market for software. Moreover, a
growing need for reducing electricity losses through monitoring is driving the
growth of the substation monitoring system market for software.
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