New York, According to a new market research report published by Global Insight Services “Substation Automation Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Substation automation is the process of automating the operations and controls of a substation. This can include the monitoring and control of equipment, the collection and analysis of data, and the execution of commands. The goal of substation automation is to improve the efficiency, reliability, and safety of substation operations.
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Key Trends
There are four key trends in Substation Automation technology:
The use of IEDs is increasing because they offer many benefits over traditional electromechanical devices. IEDs are more reliable, more accurate, and more flexible. They can be remotely monitored and controlled, which reduces the need for on-site personnel.
The use of communications is increasing because it allows for more efficient and effective operations. Communications also allow for remote monitoring and control of substations.
The use of distributed resources is increasing because they offer many benefits over centralized resources. Distributed resources are more reliable, more resilient, and more efficient. They can also be used to provide power during outages.
Key Drivers
The key drivers of the substation automation market are the increasing need for efficient grid operations, the need for improved grid security, and the need for real-time monitoring of grid assets. The substation automation market is also driven by the increasing adoption of advanced technologies, such as intelligent electronic devices, supervisory control and data acquisition systems, and distribution management systems.
Market Segmentation
The Substation Automation Market is segmented by module, component, communication channel, and region. By module, the market is classified into SCADA, IED, and communication network technology. On the basis of component, it is divided into programmable logic controller, reclose controller, capacitor bank controller, and others. Based on the communication channel, the market is further segmented into ethernet, copper wire communication, power line communication, and optical fiber communication. On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and rest of the world.
Key Players
The key players in Substation Automation Market are Ingeteam, ABB Ltd., Schneider Electric SE, Siemens AG, Amperion Inc., GE Grid Solutions, Cisco Systems Inc., Eaton Technologies Pvt. Ltd, Honeywell International, and Schweitzer Engineering Laboratories, Inc.
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Reasons to buy Substation Automation Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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