Substation Automation Market Segmented by Top Companies like: Schneider Electric, Cisco Systems, ABB Ltd, Siemens AG, Eaton Corporation, General Electric, Crompton Greaves

Polaris Market Research presents a most up-to-date research on “Substation Automation Market, [By Module (Communication Networks, Scada Systems, Intelligent Electronic Devices); By Component (Hardware, Software, Services); By Type (Distribution Substations, Transmission Substations); By Communication Channel (Optical Fiber Communication, Ethernet, Copper Wire Communication, Others) By Region]: Market Size & Forecast, 2018 – 2026”.

According to the latest market report published by the company titled ‘Substation Automation Market: Global Industry Analysis and Forecast, 2018 – 2026,’ the global Substation Automation Market is projected to reach US$ 207.8 Bn by the end of 2026 and grow at a CAGR of 6.1% during the forecast period.

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Major Key Players-

• Schneider Electric SE
• Cisco Systems
• ABB Ltd.
• Siemens AG
• Eaton Corporation Plc.
• General Electric
• Honeywell International, Inc.
• Larsen & Toubro Limited
• Crompton Greaves
• Schweitzer Engineering Laboratories, Inc.

Substation automation offers enhanced protection, control, automation, monitoring, and communication within a substation. Substation automation uses IEDs, protection relays, metering, and monitoring solutions for improved performance. Substation automation provides automatic supervision of interlocks, equipment diagnostics, local and global alarm and warnings, security control with multiple access levels, and enhanced asset management among others.

The demand for substation automation has increased over the years owing to growing adoption of smart cities, and increasing demand for efficient and low-cost solutions in the solar energy sector. The demand for electricity, coupled with high demand for smart grids has increased the adoption of substation automation. The increasing need for efficient and low cost solutions in the solar energy sector further supports substation automation market growth. Growing demand from emerging economies, increasing adoption smart grid applications, and technological advancements are expected to provide numerous growth opportunities in the coming years.

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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Substation Automation Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

North America generated the highest revenue in 2017 owing to increasing trend of smart cities, and presence of established telecom and cloud infrastructure in this region. The increasing trend of IoT, and growing demand for smart technologies drive the substation automation market growth in the region.

Competitive Landscape and Key Vendors

The global substation automation market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

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Key Segments
Module
• Communication Networks
• Scada Systems
• Intelligent Electronic Devices

Component
• Hardware
• Software
• Services

Type
• Distribution Substations
• Transmission Substations

Communication Channel
• Optical Fiber Communication
• Ethernet
• Copper Wire Communication
• Others

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