All updated as on -
The Substation Monitoring Market is anticipated to generate roughly USD 9674.13 Million between 2023 and 2030, with a predicted CAGR of 9.8%.
Substation monitoring systems have capabilities that allow for remote monitoring and management of dispersed power generation. Substations are essential for supplying consumers with electricity because they connect transmission networks and power plants. Substations maintain a consistent voltage flow and control the temperature of distribution transformers. There is an increasing need for electricity because of the growing population and per capita energy use. Power supply consistency and dependability are essential for any country to grow. There are several places where electricity is distributed, including industrial facilities and commercial structures. With the modernisation of the existing electrical infrastructure, a substation monitoring system will become more essential. Substation monitoring systems will become more popular as emerging countries electrify more infrastructure and rapidly urbanise. Thus, throughout the course of the forecast period, all these factors are expected to fuel the expansion of the market for substation monitoring technology.
The COVID-19 outbreak was advantageous for the sector that monitors substations. During the pandemic, access to certain areas was restricted, which prompted the installation of substation monitoring equipment. The industry that monitors substations benefited from the COVID-19 outbreak. Access to several locations was limited during the epidemic, which led to the installation of substation monitoring devices. thereby having an impact on the substation monitoring market's growth.
There is an increasing need for electricity because of the growing population and per capita energy use. Power supply consistency and dependability are essential for any country to grow. There are several places where electricity is distributed, including industrial facilities and commercial structures. Switch gears are required for a stable and consistent energy delivery. The substation monitoring system is required because it ensures both machine and human safety. The market for substation monitoring technology is being driven by rising public spending on upgrading IoT-based communication networks and updating power plants.
Due to commercial and technical losses, power loss during the transmission of energy to customers is to be expected. A technical loss occurs as a result of energy loss in conductors, transformers, and other power distribution equipment. Additionally, metre bypassing, broken metres, and reading errors are some of the factors that contribute to commercial losses. Due to the growing demand for substation monitoring systems used in energy distribution operations to reduce distribution and transmission losses (T&D losses), the market for substation monitoring technology is estimated to grow favourably during the projected period.
The high installation costs of IEDs (Intelligent Electronic Devices), such as transformers, relay devices, switches, controllers, and circuit breakers, are the main factor limiting the market for substation monitoring expansion. The high cost of setting up wireless sensor networks in application grids, which include multipurpose sensor nodes that help with power generation, power distribution, and power use, is another key factor limiting market expansion.
Report Coverage
Global Substation Monitoring research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Substation Monitoring report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Substation Monitoring competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Substation Monitoring market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Substation Monitoring market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Substation Monitoring market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens AG, ABB Ltd., Schneider Electric, General Electric, Cisco, Emerson Electric, Honeywell, Eaton, Emerson Electric, Crompton Greaves, Schweitzer Engineering Laboratories, Novatech, Igrid T&D, Sentient Energy, Cadillac Automation and Controls, Tekvel
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Substation Monitoring market based on the below-mentioned segments:
Global Substation Monitoring Market, By Component
Hardware
Software
Global Substation Monitoring market, By Industry
Utility
Mining
Steel
Oil & Gas
Transportation
Global Substation Monitoring market, Regional Analysis
Substation monitoring systems have capabilities that allow for remote monitoring and management of dispersed power generation. Substations are essential for supplying consumers with electricity because they connect transmission networks and power plants. Substations maintain a consistent voltage flow and control the temperature of distribution transformers. There is an increasing need for electricity because of the growing population and per capita energy use. Power supply consistency and dependability are essential for any country to grow. There are several places where electricity is distributed, including industrial facilities and commercial structures. With the modernisation of the existing electrical infrastructure, a substation monitoring system will become more essential. Substation monitoring systems will become more popular as emerging countries electrify more infrastructure and rapidly urbanise. Thus, throughout the course of the forecast period, all these factors are expected to fuel the expansion of the market for substation monitoring technology.
The COVID-19 outbreak was advantageous for the sector that monitors substations. During the pandemic, access to certain areas was restricted, which prompted the installation of substation monitoring equipment. The industry that monitors substations benefited from the COVID-19 outbreak. Access to several locations was limited during the epidemic, which led to the installation of substation monitoring devices. thereby having an impact on the substation monitoring market's growth.
There is an increasing need for electricity because of the growing population and per capita energy use. Power supply consistency and dependability are essential for any country to grow. There are several places where electricity is distributed, including industrial facilities and commercial structures. Switch gears are required for a stable and consistent energy delivery. The substation monitoring system is required because it ensures both machine and human safety. The market for substation monitoring technology is being driven by rising public spending on upgrading IoT-based communication networks and updating power plants.
Due to commercial and technical losses, power loss during the transmission of energy to customers is to be expected. A technical loss occurs as a result of energy loss in conductors, transformers, and other power distribution equipment. Additionally, metre bypassing, broken metres, and reading errors are some of the factors that contribute to commercial losses. Due to the growing demand for substation monitoring systems used in energy distribution operations to reduce distribution and transmission losses (T&D losses), the market for substation monitoring technology is estimated to grow favourably during the projected period.
The high installation costs of IEDs (Intelligent Electronic Devices), such as transformers, relay devices, switches, controllers, and circuit breakers, are the main factor limiting the market for substation monitoring expansion. The high cost of setting up wireless sensor networks in application grids, which include multipurpose sensor nodes that help with power generation, power distribution, and power use, is another key factor limiting market expansion.
Report Coverage
Global Substation Monitoring research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Substation Monitoring report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Substation Monitoring competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Substation Monitoring market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Siemens AG, ABB Ltd., Schneider Electric, General Electric, Cisco, Emerson Electric, Honeywell, Eaton, Emerson Electric, Crompton Greaves, Schweitzer Engineering Laboratories, Novatech, Igrid T&D, Sentient Energy, Cadillac Automation and Controls, Tekvel |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Substation Monitoring Market from 2021 to 2030.
- Market Forecast for Substation Monitoring Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Substation Monitoring competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Substation Monitoring
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Substation Monitoring market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Substation Monitoring market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens AG, ABB Ltd., Schneider Electric, General Electric, Cisco, Emerson Electric, Honeywell, Eaton, Emerson Electric, Crompton Greaves, Schweitzer Engineering Laboratories, Novatech, Igrid T&D, Sentient Energy, Cadillac Automation and Controls, Tekvel
Primary Target Market
- Market Players of Substation Monitoring
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Substation Monitoring market based on the below-mentioned segments:
Global Substation Monitoring Market, By Component
Hardware
Software
Global Substation Monitoring market, By Industry
Utility
Mining
Steel
Oil & Gas
Transportation
Global Substation Monitoring market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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