Zion Market Research, the market research group announced the analysis report titled "Substation Automation and Integration Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024".
Sarasota, FL -- (SBWIRE) -- 09/22/2017 -- Global Substation Automation and Integration Market: Overview
Substation automation has transformed the way in utilities management networks. It acts as a strong base for many important functions of the utilities. Currently, distribution and transmission utilities are targeting full substation automation of the partially automated or retrofit substations, which already exist. Substation automation is monitored by the automation components such as voltage controls, digital transducers, digital protection relays, recloser controls, logical programmable controller, RTUs, and capacitor bank controls.
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Global Substation Automation and Integration Market: Growth Factors
Major drivers of the global substation automation and integration market are the old power industries and growing influence of the smart grid infrastructure. This enables the multifunctional solution to meet with advanced communication protocols. Another growth factor of the global market is intelligent electronic devices (IEDs), which is anticipated to boost the global substation automation and integration market in future. It provides smooth control functions and monitoring across the substation. Communication networks manage data and substation devices that fuel the global market growth. Advancements in the technologies further enhance the global substation automation and integration market growth. Other factors responsible for the growth of the market include the reduction in transmission and distribution loss and cost saving. Reliability and grid efficiency associated with substation automation and integration may fuel the global substation automation and integration market in next few years. However, huge capital investments and the regulation issue may hinder the global market growth in future.
Global Substation Automation and Integration Market: Segmentation
The global substation automation and integration market are classified based on substation types, component, communication network, and geography. The substation types are bifurcated as collector substation, transmission substation, and distribution substation. The collector substation is where the power is collected from other sources such as wind farm. The components segment is divided as recloser controller, digital relays, load tap changer controller, programmable logical controllers, capacitor bank controller, and smart meters/digital transducers. The communication network is categorized as ethernet communication, fiber optic communication, power line communication (PLC), and copper wire communication.
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Global Substation Automation and Integration Market: Regional Analysis
North America holds the largest market share in the global market and accounted for largest share owing to the emergence of advanced technologies in the global substation automation and integration market. Asia-Pacific is the second largest market in the global market and is expected to grow at the higher rate in future.
Global Substation Automation and Integration Market: Competitive Players
Some of the leading players dominating the global substation automation and integration market are Itron, Alstom SA, GE Energy, Echelon Corporation, ABB, Cooper Power Systems, Amperion, Infrax Systems, Cisco Systems, Grid Net, Eaton Corporation, and Encore Networks. Other key players influencing the global market include Schneider Electric, Landis+Gyr, Siemens AG, S&C Electric Company, Trilliant and Tropos Networks, Ruggedcom, Novatech, and Schweitzer Engineering Laboratories.
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