Substation Monitoring Market 2020 Report offers a professional and in-depth study on the current state of the Global Substation Monitoring Market along with competitive landscape, Substation Monitoring Market share and revenue forecasts 2023.
Substation Monitoring Market Scenario
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.
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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.
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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.
Scope of the Report
This research
report provides insights into various levels of analysis, such as industry
analysis and market share analysis for the leading industry competitors, along
with their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global
Substation Monitoring Market, including high-growth regions and/or countries,
and political and economic environments. The project report further provides
both – historical market values and pricing & cost analysis.
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