Global Power System State Estimator Market sales is growing at 14.1% CAGR till 2020
Deerfield Beach, FL -- (SBWIRE) -- 07/13/2017 -- Zion Market Research has published a new report titled "Global Power System State Estimator Market By Software (Utility State Estimator Software And Power Control Centers) And Solution (Weighted Lease Square (WLS) Method, Least Absolute Value (LAV) Method And Others) For Transmission Network And Distribution Network Application: Global Industry Perspective, Comprehensive Analysis And Forecast, 2014 – 2020." According to the report, global demand for power system state estimator market was valued at USD 3.00 billion in 2014 and is expected to generate revenue of USD 6.61 billion by end of 2020, growing at a CAGR of 14.1%between 2015 and 2020.
Power system state estimator is a process where telemetered data from network measuring points to a central computer converted into the set of potential data for recording and control intentions. Energy management system is a system of computer-aided tools used by the operator of electric utility grids to monitor, control, and optimize the performance of the generation, distribution, and transmission system. These monitor and control functions are known as SCADA (Supervisory Control and Data Acquisition System). Energy management is the process of monitoring, coordinating and controlling the generation, transmission, and distribution of electrical energy.
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The major driving factor for power system state estimator market is increasing demand for smart grids, and growing and complex nature of transmission & distribution networks. Government regulations favoring energy efficient systems and advantages of synchrophasor measurements over SCADA measurements for introduction power system state estimation is expected to be another prime driving factor for power system state estimator market. However, lack of industry standards for state estimation is expected to major restraints for power system state estimator market.
Based on software, the global power system state estimator market is segmented in to utility state estimator software and power control centers. Power control centers were the leading software segment in power system state estimator market and accounted for over 67.0% of the overall share of the market. Weighted lease square (WLS) method, least absolute value (LAV) method, and other methods are the key solution of the global power system state estimator market. In 2014, weighted lease square (WLS) method segment was the largest segment that accounted around 45.0% share of the total market. Least absolute value (LAV) method was the second largest segment and it accounted for over 30.0% share of the power system state estimator market.
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Based on application power system state estimator market has been segmented into transmission network and distribution network. The transmission network is leading application segment in power system state estimator market and accounted for the largest market share in 2014. It accounted for more than 58.0% share of the total market.
With the largest share, North America was a leading regional market for power system state estimator market in 2014 and accounted for over 41% share of the total market. North America is followed by Europe was the second largest segment and which accounted for more than 29.8% revenue share in power system state estimator market. Latin America and Middle East & Africa are also expected to experience significant growth in the forecast period.
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Some of the key players of global power system state estimator market include ABB Ltd, Alstom SA, CYME International, DIgSILENT GmbH, Electrocon International, Inc., EPFL (Simsen), ETAP Electrical Engineering Software, GDF SUEZ Energy (ENGIE), GE Power, Inspired Interfaces (Retic Master), Kepco Inc, Neplan AG, Nexant, Open Systems International, Inc., PowerWorld Corporation, PRDC (Mipower), Siemens AG, Siemens PTI, and SKM Systems Analysis, Inc.
This report segments the global power system state estimator market as follows:
Software Segment Analysis: Utility State Estimator Software, Power Control Centers
Solutions Segment Analysis: Weighted Lease Square (WLS) Method, Least Absolute Value (LAV) Method, Other
Application Segment Analysis: Transmission Network, Distribution Network
Regional Segment Analysis: North America, Europe, asia Pacific, Latin America, Middle East and Africa
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