Global Power System State Estimator Market sales is growing at 14.1% CAGR till 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/29/2017 -- 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. 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."
Power system state estimator includes estimation of the state of the network from the redundant telemetry measurements. It is a process where telemetered data from network measuring points to a central computer, can be formed into a set of reliable data for recording and control intentions. Energy management is the process of monitoring, coordinating and controlling the generation, transmission, and distribution of energy. An energy control center utilizes the computer-aided tools to monitor, control and optimize the generation, transmission, and distribution of electrical energy. These monitor and control functions are known as SCADA (Supervisory Control and Data Acquisition System). Energy management systems are commonly used by individuals, commercial entities to monitor, measure, and control their electrical building loads. Energy management systems can also provide metering, submetering, and monitoring functions.
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Global power system state estimator market is mainly driven by increasing and complex nature of transmission & distribution networks and growing demand for smart grids. The smart grid will make use of technologies, such as state estimation, that improve fault detection and allow self-healing of the network without the intervention of technicians. Government regulations favoring energy efficient systems and advantages of synchrophasor measurements over SCADA measurements for introduction power system state estimation are another driving factor of this market. Lack of industry standards for state estimation is expected to hinder market growth in the near future.
Power system state estimator market can be segmented based on software into utility state estimator software and power control centers. This market is dominated by power control centers segment and accounted for over 67.0% share of the total market in 2014. Utility state estimator software also expected to exhibit significant growth in the years to come.
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Based on a solution, power system state estimator market has been segmented into weighted least square (WLS) method, least absolute value (LAV) method and other methods. Power system state estimator market was dominated by weighted least square (WLS) method segment and which accounted for more than 45.0% revenue share. Weighted least square (WLS) method followed by least absolute value (LAV) method was the second largest method and it accounted for over 30.0% share of the power system state estimator market.
Transmission network and distribution network are the key application of power system state estimator market. The transmission network segment dominated the global state estimator market and accounted for more than 58.0% share of the total market. Transmission network market was driven by the need for accurate real-time estimation of bus voltages, which helps enhance the reliability of electric power systems. The distribution network is also expected to a fastest growing segment of this market.
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North America dominated the global power system state estimator market and accounted for over 41% share of the total market. North America is followed by Europe and Asia Pacific. r. Europe was the second largest segment and which accounted for more than 25% revenue share. Latin America and Middle East & Africa are also expected to experience significant growth in the forecast period.
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.
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