Substation Monitoring Market Scenario
The global Substation
Monitoring Industry 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.
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.
Browse Complete Research Report at: https://www.marketresearchfuture.com/reports/substation-monitoring-market-7341
Regional Analysis
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.
Leading 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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