Global Substation Automation Market Was Valued At $106,891 Million As In 2015 And Is Expected To Reach $154,876 Million By 2022, Growing At A Cagr Of 5.5% From 2016 To 2022. Substation Automation Is A System That Used To Control, Protect, Operate And Monitor Electricity Substations. Substation Automation Equipment Should Be Able To Monitor And Control The Grid In Order To Ensure A Fast Response To Real-Time Events With Appropriate Actions, And To Maintain Uninterrupted Power Services.
Substation Automation Market Is Currently In Developmental Stage. Globally, The Demand For Electricity Is Increasing And There Is A Need To Deliver It Efficiently. Replacement Of Old Outdated Units And Emphasis On Grid Stability And Cost Reduction Are Major Driving Factors For The Growth Of Substation Automation Market. However, Data Security Concerns Act As Major Restraint. There Is Global Need To Shift From Coal & Gas-Based Generation To Renewable & Non-Conventional Energy Resources-Based Electricity Generation, Owing To Environmental Concerns. Substation Automation Market Has High Opportunity For Growth As Green Energy Requires Management Of Grids And Substations Using Automation Techniques.
The Global Substation Automation Market Is Segmented On The Basis Of Module, Component, Communication Channel, And Geography. On The Basis Of Component, The Market Is Further Sub-Divided Into Programmable Logic Controller, Load Tap Changer, Reclose Controller, Capacitor Bank Controller, Digital Transducer, Digital Relays, Communication Channel, And Others. Based On The Communication Channel, It Is Further Segmented Into Ethernet, Copper Wire Communication, Power Line Communication, And Optical Fiber Communication. Geographical Division Includes North America, Europe, Asia-Pacific, And Lamea.
Major Players In Substation Automation Industry Include Ingeteam, Abb Ltd., Schneider Electric Se, Siemens Ag, Amperion Inc., Ge Grid Solutions, Cisco Systems Inc., Eaton Technologies Pvt. Ltd., And Schweitzer Engineering Laboratories, Inc.
Key Benefits for Stake Holders
Substation Automation Market Key Segments
By Communication Channel
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