The growing demand for low-cost substation automation solutions in solar industry, rising integration of functions with digital technology to enhance grid efficiency in smart cities, growing need for retrofitting conventional substations, development in the substation automation standard IEC 61850 to allow interoperability among intelligent electronic devices, and increasing adoption of fiber optics cables are the major factors that driving the growth of global substation automation market. The power generation companies are focussing on low-cost substation solution; therefore, they are replacing their conventional substation by digital substations that further boost the growth of the market. However, high wireless sensor network installation costs and embedded leds in substation rise equipment purchasing costs are restraining the growth of the market.
Substation automation refers to using data from intelligent electronic devices (IED), control and automation abilities within the substation, and control commands from remote users to control power-system devices. Substation automation is using in over-current protection and Supervisory Control and Data Acquisition (SCADA). The principal standard for the substation automation is with the invoking of IEC 61850. The substation automation uses across industries such as utility, steel, oil & gas, transportation, and mining.
Based on the module, the communication segment is expected to grow at a higher rate during the forecast period owing to the rising demand for reducing solar projects cost, which are widely used in distribution substations. Wireless networks eliminate trenching costs associated with wired communications and shorten deployment timelines and make them more predictable are further fuelling the growth of the market.
Based on the type, the distribution substation segment is projected to grow in the global substation automation market over the forecast period owing to rising demand for electricity, which increase the need for replacing of aging infrastructure for power delivery systems station. The existing infrastructures are not capable of sustaining heavy power transmission or inferior standards, which increases the outages chances. Therefore, companies are investing in upgrading the infrastructure of substation transmission.
Based on the installation type, the retrofit installations segment is projected to grow in the market over the forecast period owing to the growing demand to upgrade conventional substations to enhance operational efficiency at a global level.
Based on the industry, the utility segment is expected to grow in the market during the forecast period due to the high demand-supply gap in energy across utilities sector. Substation automation is widely used in generating, transmitting, and distribution of power in the utility industry, which fuels the growth of the market in the coming years. Moreover, the growing modernization of grids, along with the installation of smart grids, is further boosting the growth of the market.
Based on the region, the Asia-pacific region is projected to grow at a significant rate in the substation automation market over the forecast period owing to the increasing government initiatives in emerging economies such as India and China to improve its power and energy sector. India is targeted to install 175 GW of renewable energy capacity by the year 2022, various schemes organized to stimulate distribution in utilities, and village electrification programs, among others are some of the initiatives taken up by the Government of India. Moreover, growing investment to boost the manufacturing activities across the developing countries across the globe is positively impacting the industry growth in the Asia-pacific.
Various notable players in the Substation Automation market include ABB Group, Siemens AG, Rockwell Automation, Inc., Cisco Systems, Inc., CG Power, and Industrial Solutions Limited, Schneider Electric SE, General Electric, Schweitzer Engineering Laboratories, Inc., Honeywell International Inc., Eaton Corporation plc, Novatech LLC, Larsen & Toubro Limited and among others.
The Global Substation Automation market has been segmented based on the module, offering, type, installation type, industry, and key region. Based on the module, the market is segmented into Intelligent Electronic Devices, Communication Networks, and SCADA Systems. Based on communication networks, the market is segmented into Wired Communication and Wireless Communication. Based on offering, the market is further segmented into hardware, software, and services. Based on hardware, the market is segmented into smart meters, programmable logic controllers, protective relays, load tap changers, recloser controllers, capacitor banks, and others. Based on software, the market is segmented into asset management, production management, and performance management. Based on services, the market is segmented into training & development, upgrades & retrofits, installation & commissioning, and repair, testing, & maintenance. Based on the installation type, the market is segmented into transmission substations and distribution substations. Based on type, the market is segmented into the retrofit installation and new installation. Based on Industry, the market is segmented Utility, Steel, Mining, Oil & Gas, and Transportation. Based on utility, the market is segmented into non-renewables and renewables.
Key questions answered in this research report:
* At what pace is the global Substation Automation market growing? What will be a growing trend in the future?
* What are the key drivers and restraints in the global Substation Automation market? What will be the impact of drivers and restraints in the future?
* What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Substation Automation market?
* What are the various industries of the global Substation Automation market, and how are they poised to grow?
* What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
IMDb's world-renowned 1-10 star rating, a daily-computed average of votes from IMDb's global audience of 250 million visitors. Data set includes the title, release year or first air date, any known alternative titles, as well as the number of votes.
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This data set contains recordings of voice commands including the wake word in US English (en_US) of 103 participants of age 19-68 (e.g., "Hey Siri, turn the volume down").
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